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.
B&G Foods (NYSE: BGS) has amended its senior secured credit facility to allow a temporary increase in the maximum consolidated leverage ratio from 7.00 to 1.00 to 7.50 to 1.00 for the quarter ending July 2, 2022, and to 8.00 to 1.00 through September 30, 2023. During Q2 2022, the company sold 2,739,568 shares under its ATM equity program, generating
B&G Foods (NYSE: BGS) announced a reorganization into four business units: Spices & Seasonings, Meals, Frozen & Vegetables, and Specialty. This restructuring aims to enhance focus, drive organic growth, and streamline operations. The company has appointed new leaders for each unit, effective August 1, 2022. CEO Casey Keller emphasized the need for a structure that supports accountability, decision-making speed, and adaptation to market conditions, including inflation and supply chain challenges. The restructuring reflects ongoing strategies to improve financial performance and capitalize on post-pandemic consumer trends.
B&G Foods, Inc. (NYSE: BGS) has declared a quarterly cash dividend of $0.475 per share, payable on August 1, 2022, to shareholders of record as of June 30, 2022. At the market price on May 17, 2022, this dividend represents an annual yield of 7.9%. This marks the 71st consecutive quarterly dividend since the company's IPO in October 2004.
B&G Foods has acquired the frozen vegetable operations of Growers Express to enhance its Green Giant brand. The deal includes inventory, equipment, and facilities in
B&G Foods reported Q1 2022 net sales of $532.4 million, a 5.4% increase from Q1 2021, largely driven by pricing initiatives and elevated demand. However, diluted EPS fell to $0.34, a 17.1% drop year-over-year. Adjusted EBITDA was $77.9 million, down 16.2%, impacted by high input cost inflation and supply chain disruptions. The company raised its full-year net sales guidance to $2.10 billion - $2.14 billion, but cautioned against ongoing inflation and supply chain issues, which could affect future performance.
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B&G Foods (NYSE: BGS) has announced it will release its first quarter 2022 financial results on May 5, 2022, after market close. The company will host a conference call at 4:30 p.m. ET the same day, featuring CEO Casey Keller and CFO Bruce Wacha. Investors can access the earnings release and call via the company's investor relations website. B&G Foods, based in Parsippany, New Jersey, specializes in high-quality, branded shelf-stable and frozen foods, boasting a diverse portfolio of over 50 well-known brands.
B&G Foods (NYSE:BGS) is recalling 1,855 cases of Back to Nature Cheddalicious Cheese Flavored Crackers with a best by date of SEP 05 2022. Some boxes were mistakenly filled with animal-shaped crackers containing undeclared allergens (egg and milk). While there is no health risk for those without allergies, individuals with sensitivities may face serious reactions. No allergic reactions have been reported. The recall affects products distributed in several states, and consumers can return the product for a full refund.
B&G Foods has launched the Cinnamon Toast Crunch™ Creamy Cinnamon Spread, marking the first spreadable version of the popular breakfast cereal. Available nationwide, this new product follows the successful launch of the Cinnadust™ Seasoning Blend in 2020. The spread is versatile, designed for various culinary uses such as a topping or baking ingredient. The company aims to capitalize on consumer interest in innovative food products. For more details, visit www.ctcspread.com.
B&G Foods reported its financial results for the fourth quarter and full year 2021, revealing a net sales increase of 12.1% to $571.8 million in Q4. The Crisco acquisition drove growth, contributing $68 million to Q4 sales. However, the company faced challenges from COVID-19-related supply chain disruptions and input cost inflation. Full year net sales rose 4.5% to $2.056 billion, but base business net sales fell 8.3%. The company recorded a net loss of $4.8 million in Q4, with adjusted diluted EPS at $0.39. Future guidance expects net sales between $2.070 billion and $2.125 billion for 2022.
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