B&G Foods Holdings is a prominent food manufacturing and distribution company that specializes in producing a wide range of packaged foods and consumer products. The company offers a diverse portfolio of well-known brands across various categories including snacks, frozen foods, and sauces, catering to both retail and food service markets. B&G Foods focuses on innovation, quality, and sustainability in its product offerings, aiming to meet the evolving tastes and preferences of consumers. With a commitment to operational excellence, the company actively seeks acquisitions to expand its brand portfolio and enhance its market presence.
Looking back on shelf-stable food stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including B&G Foods (NYSE:BGS) and its peers.
B&G Foods has gotten torched over the last six months - since June 2024, its stock price has dropped 29.7% to $6.74 per share. This was partly due to its softer quarterly results and may have investors wondering how to approach the situation.
Shareholders of B&G Foods would probably like to forget the past six months even happened. The stock dropped 26.5% and now trades at $6.75. This was partly due to its softer quarterly results and may have investors wondering how to approach the situation.
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Shares of packaged foods company B&G Foods (NYSE:BGS)
fell 19.4% in the afternoon session after the company reported underwhelming third-quarter earnings. Its sales and earnings missed Wall Street's estimates. Given the poor results, it lowered its full-year revenue and EPS guidance, suggesting the weaknesses recorded during the quarter might persist as management called out a slower-than-expected recovery in sales trends. While the weak trends partly explain the declining volumes during the quarter, the sale of the Green Giant U.S. shelf-stable product line also had a negative impact. Overall, this was a weaker quarter.
Packaged foods company B&G Foods (NYSE:BGS) missed Wall Street’s revenue expectations in Q3 CY2024, with sales falling 8.3% year on year to $461.1 million. The company’s full-year revenue guidance of $1.94 billion at the midpoint came in slightly below analysts’ estimates. Its non-GAAP profit of $0.13 per share was also 34.5% below analysts’ consensus estimates.
B&G Foods, Inc. (NYSE: BGS) today announced financial results for the third quarter and first three quarters of 2024. Financial results for the third quarter and first three quarters of 2024 reflect the impact of the Green Giant U.S. shelf‑stable divestiture during the fourth quarter of 2023.
B&G Foods, Inc. (NYSE: BGS) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.19 per share of common stock. The dividend is payable on January 30, 2025 to stockholders of record as of December 31, 2024.
B&G Foods, Inc. (NYSE: BGS) announced today that it intends to issue a press release with third quarter 2024 financial results after the market close on Tuesday, November 5, 2024. B&G Foods has scheduled a conference call at 4:30 p.m. ET that same day to discuss the results. Hosting the call will be Casey Keller, President and Chief Executive Officer and Bruce Wacha, Executive Vice President of Finance and Chief Financial Officer.
B&G Foods, Inc. (NYSE: BGS), announced today that it has issued a notice of redemption for all $265,392,000 remaining aggregate principal amount of its outstanding 5.25% senior notes due 2025 at a cash redemption price of 100.0% of the principal amount of the notes being redeemed, plus accrued and unpaid interest on such amount, to, but excluding, the redemption date of October 9, 2024. B&G Foods plans to fund the redemption with revolving loans under its existing credit facility together with cash on hand.
B&G Foods, Inc. (NYSE: BGS) today announced that it will participate at the Barclays Global Consumer Staples Conference on Wednesday, September 4, 2024 in Boston, MA. The fireside chat will begin at 11:15 a.m. Eastern Time. Investors and interested parties may listen to a live webcast of the session by visiting the investor relations section of B&G Foods’ website at www.bgfoods.com/investor-relations at the appropriate time. A replay of the webcast will be available following the conclusion of the event.
B&G Foods, Inc. (NYSE: BGS) today announced financial results for the second quarter and first two quarters of 2024. Financial results for the second quarter and first two quarters of 2024 reflect the impact of the Green Giant U.S. shelf-stable divestiture during the fourth quarter of 2023.
B&G Foods, Inc. (NYSE: BGS) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.19 per share of common stock. The dividend is payable on October 30, 2024 to stockholders of record as of September 30, 2024.
B&G Foods, Inc. (NYSE: BGS) announced today that it intends to issue a press release with second quarter 2024 financial results after the market close on Tuesday, August 6, 2024. B&G Foods has scheduled a conference call at 4:30 p.m. ET that same day to discuss the results. Hosting the call will be Casey Keller, President and Chief Executive Officer and Bruce Wacha, Executive Vice President of Finance and Chief Financial Officer.
B&G Foods, Inc. (NYSE: BGS) announced today that it has completed its previously announced tack-on offering of 8.000% senior secured notes due 2028 and credit agreement refinancing.
