Why B&G Foods Stock Popped This Week [Yahoo! Finance]
Green Giant Inc. (GGE)
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Source: Yahoo! Finance
B&G also continued to reorient its portfolio around growth brands. According to data from S&P Global Market Intelligence , the stock was up 22.5% for the week as of Thursday's close. B&G makes the right moves B&G, which owns brands such as Green Giant, Ortega, Crisco, and other supermarket staples said that revenue in the fourth quarter fell 7.2% to $578.1 million, which beat estimates at $571.4 million. Base business net sales, which strips out the impact of divestitures including the Green Giant shelf-stable business and its sale of the Back to Nature snack brand, fell 2.3% to $562.3 million. Management said base business revenue declined in part because of a reduction in pricing related to a decline in costs in Crisco as oil input costs declined. It saw strength in brands like Clabber Girl, which is best known for baking powder, where sales rose 26.3%. Even as revenue declined in the quarter, B&G reported improving gross margins, which were up 150 basis points to 21.7%.
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- 4/19/24 - Form 8-K
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- 3/5/24 - Form PRER14A
- GGE's page on the SEC website