B&g Foods Narrows Guidance Ranges As Third-quarter Impairments Booked

Credit: OleksandrShnuryk/Shutterstock.com.

B&G Foods has “narrowed” its fiscal twelvemonth outlook for income and profits for nan 3rd clip amid a mixed container successful its latest financial accounts.

New York-listed B&G Foods did not supply a circumstantial logic for nan guidance amendments but group income fell successful nan 3rd quarter, nett profit turned to a nonaccomplishment and some adjusted EBITDA and EPS delivered level results.

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to scope engaged professionals crossed 36 starring media platforms.

Find retired much

The nett nonaccomplishment of $19.1m for nan 3 months to 27 September – versus a $7.5m profit a twelvemonth earlier – was attributed to much than $50m successful full non-cash impairment charges.

B&G Foods said $27.8m was linked to nan held-for-sale assets of nan Green Giant stiff and shelf-stable rootlike products business successful Canada, a disposal announced successful October to Nortera Foods.

Another $26m was related to nan impairment of alleged “indefinite lived intangible trademark assets” for nan Victoria marque of pasta sauces and condiments, and nan McCann’s oats statement brands. That was offset by a $15.5m summation from nan divestment of nan Le Sueur vegetable brand to McCall Farms successful August.

Full-year expectations for income person now been group successful a scope of $1.82-1.84bn, adjusted from nan $1.83-1.88bn outlined astatine nan second-quarter results shape successful August. At nan extremity of nan erstwhile fiscal year, B&G had forecast $1.89-1.95bn successful February, earlier first amending estimates successful May.

Following nan aforesaid pattern, adjusted EBITDA is now projected astatine $273-280m, versus $273-283m successful August. The original forecast successful February was $290-300m.

Adjusted diluted net per stock are projected to travel successful astatine $0.50-0.58 against nan erstwhile estimate of $0.50-0.60 successful August and nan $0.65-0.75 projection successful February.

Third-quarter nett income dropped 4.7% to $439.3m owed to a alteration successful volumes and nan antagonistic effect from speech rates, though pricing was an offset. B&G Foods’ alleged guidelines business income fell 2.7% to $437m.

President and CEO Casey Kellers assistance successful nan results commentary: “B&G Foods’ third-quarter results demonstrated important betterment successful adjusted EBITDA transportation and sequential betterment successful guidelines business nett income arsenic compared to nan first 2 quarters of 2025.

“Further, we announced successful precocious October that we person reached an statement to waste Green Giant Canada, different cardinal divestiture to solidify nan stableness and spot of nan halfway B&G Foods’ portfolio of brands.”

B&G Foods reported adjusted EBITDA of $70.4m, level pinch nan corresponding 4th of 2024.

Adjusted diluted EPS was $0.15 versus $0.13 a twelvemonth earlier.

The business operates crossed 4 segments: speciality, meals, stiff and vegetables, and spices and flavourings.

In 2023, B&G Foods besides sold its ambient range of Green Giant rootlike products successful nan US to Seneca Foods.

Sales dropped successful each but 1 of those 4 business areas successful nan 3rd quarter.
Speciality saw a 6.5% diminution to $150.6m, while income successful meals dropped 1.4% to $110m. The stiff veg conception generated a 13.2% alteration to $77.4m

Spices and flavourings bucked nan diminution arsenic income roseate 2.1% to $101.4m.