Welcome to our dedicated page for B & G Foods news (Ticker: BGS), a resource for investors and traders seeking the latest updates and insights on B & G Foods stock.
B&G Foods, Inc. (NYSE: BGS) is a Parsippany, New Jersey based packaged food manufacturer that regularly issues news on its branded shelf‑stable and frozen food portfolio, financial performance and corporate transactions. The company manufactures, sells and distributes branded foods across the United States, Canada and Puerto Rico, and its announcements often reference well‑known brands such as B&G, B&M, Bear Creek, Cream of Wheat, Crisco, Dash, Green Giant, Las Palmas, Mama Mary’s, Maple Grove Farms, New York Style, Ortega, Polaner, Spice Islands and Victoria.
News about B&G Foods commonly includes earnings releases and segment results, where the company discusses net sales, base business net sales, adjusted EBITDA and other financial metrics for its Specialty, Meals, Frozen & Vegetables, and Spices & Flavor Solutions segments. These updates are typically furnished to the Securities and Exchange Commission via Form 8‑K and accompanied by detailed commentary on factors such as volume, pricing, product mix, raw material costs, foreign currency impacts and impairment charges.
Investors following BGS news can also expect transaction‑related announcements. B&G Foods has reported divestitures such as the sale of the Le Sueur U.S. shelf‑stable vegetable brand to McCall Farms and an agreement to sell the Green Giant and Le Sieur frozen and shelf‑stable vegetable product lines in Canada to Nortera Foods. It has also announced an agreement to acquire the broth and stock business of Del Monte Foods Corporation II Inc. and its affiliates, including the College Inn and Kitchen Basics brands, subject to Bankruptcy Court approval and other conditions.
Additional news items include updates on capital structure and credit agreements, such as amendments to its revolving credit facility and repurchases of senior notes, as well as dividend declarations and executive appointments. For example, the company has highlighted its long history of consecutive quarterly dividends since its initial public offering and has announced changes in executive leadership roles. Monitoring this news stream helps readers understand how B&G Foods manages its brand portfolio, finances and strategic direction over time.
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B&G Foods (NYSE: BGS) will announce its first quarter 2023 financial results on Thursday, May 4, 2023, after market close. A conference call to discuss these results is scheduled for 4:30 p.m. ET on the same day, hosted by Casey Keller, President and CEO, and Bruce Wacha, Executive VP and CFO. Investors can access the earnings press release and the live audio webcast via their investor relations webpage, where a replay will also be available.
B&G Foods operates in the U.S., Canada, and Puerto Rico, offering a diverse portfolio of over 50 well-known brands like B&M, Crisco, and Green Giant. The company focuses on manufacturing and distributing shelf-stable and frozen foods.
B&G Foods has launched the Girl Scout Thin Mints™ Seasoning Blend, a versatile seasoning made from dark cocoa, mint flavor, and cookie crumbles, replicating the popular Thin Mints cookie taste. The product is aimed at enhancing various meals and beverages, available nationwide at select retailers, with wider distribution expected in late spring 2023. Julie Gould, Senior Director of Brand Marketing, expresses excitement over the growing demand for flavored seasonings inspired by classic cookies. The seasoning can be used on desserts and drinks, making it a novel culinary addition.
B&G Foods reported a 9.0% increase in net sales for Q4 2022, totaling $623.2 million, driven by pricing and supply recovery. However, the company faced a net loss of $11.4 million for the fiscal year, with adjusted diluted EPS of $1.08, a decline of 42.6%. The company expects FY 2023 net sales between $2.13 billion and $2.17 billion and adjusted EBITDA of $310 million to $330 million. Factors affecting performance include inflationary costs and a 6.9% decrease in Green Giant sales. The overall outlook remains cautious as input costs and supply chain issues persist.