B&G Foods (BGS) Q1 Earnings & Sales Lag Estimates, Volumes Soft [Yahoo! Finance]
B&G Foods, Inc. B&G Foods, Inc. (BGS)
Last b&g foods, inc. b&g foods, inc. earnings: 2/25 04:05 pm
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Source: Yahoo! Finance
Both net sales and earnings experienced year-over-year declines. The sales decline was due to foodservice trends and increased promotion spending. Nonetheless, management stated that the company witnessed consistent margins, moderate inflation, stabilizing volumes and reduced leverage. Q1 Details B&G Foods posted adjusted earnings of 18 cents per share, which missed the Zacks Consensus Estimate of 20 cents. Also, the bottom line slumped 33.3% year over year. Net sales of $475.2 million declined 7.1% year over year mainly due to lower unit volumes stemming from the divestiture of the Green Giant U.S. shelf-stable product line (divested on Nov 8, 2023). Also, lower net pricing and effects of product mix weighed on net sales. Net sales missed the Zacks Consensus Estimate of $483 million. Base business net sales declined 4.4% to $475.3 million due to lower net pricing, an adverse product mix and lower unit volumes partly made up by positive impacts of currency headwinds. The a
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BGS
Earnings
- 5/8/24 - Miss
BGS
Sec Filings
- 5/14/24 - Form 4
- 5/14/24 - Form 4
- 5/14/24 - Form 4
- BGS's page on the SEC website