Table of Contents Income Tax Expense Estimates and Policies Pension Expense - 38 - The following table sets forth the percentages of net sales represented by selected items for fiscal 2022 and fiscal 2021 reflected in our consolidated statements of operations. The comparisons of financial results are not necessarily indicative of future results: Fiscal 2022 Fiscal 2021 Gross Profit. Our gross profit is equal to our net sales less cost of goods sold. The primary components of our cost of goods sold are cost ...

Financial Data and Key Metrics Changes - Net sales increased by 2.6% year-over-year to $528.4 million in Q3 2022, with adjusted EBITDA of $80.2 million and adjusted diluted earnings per share of $0.31, down from $0.55 in the prior year [17][30]. - Adjusted EBITDA margin improved to 15.2% compared to 11.3% in Q2 2022, although it decreased from 18.7% in Q3 2021 [28][30]. - Gross profit was $105.8 million, representing 20% of net sales, a slight decrease from 20.5% in Q3 2021 [23][24]. Business Line Data and Key Metrics Changes - Crisco's net sales increased by 38.3% to $27.3 million in Q3 2022, with year-to-date sales up 32.9% [18]. - Clabber Girl's net sales rose by 26.6% in Q3 2022, while Cream of Wheat increased by 20.4% [19]. - Green Giant's net sales decreased by 12.6% in Q3 2022, attributed to exiting low-margin businesses and pricing elasticity [21][22]. Market Data and Key Metrics Changes - The spices and seasonings business saw a decline of 6.5% in Q3 2022, although this was an improvement from a 9.5% decline in the first half of the year [20]. - Customer service and fill rates improved to over 93% by the end of Q3, with expectations to reach 94% to 95% in Q4 [9]. Company Strategy and Development Direction - The company is focusing on divesting non-core businesses, including the Back to Nature brand, to improve portfolio focus and reduce debt [12][43]. - A new business unit structure has been implemented to enhance accountability and decision-making, with expectations for improved sales and margin performance [13][42]. - The company plans to take a more surgical approach to pricing in 2023, targeting specific commodities experiencing inflation [10]. Management's Comments on Operating Environment and Future Outlook - Management noted that inflationary pressures are expected to continue but at a lower rate of 4% to 5% in 2023, with a focus on managing cash flow and reducing debt [11][41]. - The company anticipates stronger Q4 performance, with net sales growth projected in the mid-single digits and adjusted EBITDA expected to be at or above last year [9][31]. - Management expressed confidence in recovering distribution in key accounts and improving customer fill rates [9][34]. Other Important Information - The dividend payout rate has been revised from $1.90 to $0.76 per share annually, reflecting the current cash flow environment [40]. - A non-cash impairment charge of $103.6 million was recorded for the Back to Nature brand during Q3 2022 [43]. Q&A Session Summary Question: Pricing contribution and volume impact - Management indicated that volume declines were not solely due to pricing elasticity, with significant impacts from supply chain disruptions and strategic business exits [48][52]. Question: Dividend rate and capital spending - Management confirmed that the new dividend rate reflects current cash flows and working capital needs, with a focus on optimizing debt repayment [60][39]. Question: Back to Nature sales and margin - The Back to Nature brand has generated approximately $50 million in sales, but management believes it is not a long-term fit for the company [62]. Question: Shelf space and competitive response - Management stated that most lost shelf space is being regained, with ongoing efforts to restore distribution and improve sales in the spices and seasonings category [80].

B&G Foods, Inc. (NYSE:BGS) Q2 2022 Earnings Conference Call August 4, 2022 4:30 PM ET Company Participants Sarah Jarolem – Senior Director of Corporate Strategy and Business Development Casey Keller – Chief Executive Officer Bruce Wacha – Chief Financial Officer Conference Call Participants Andrew Lazar – Barclays Karru Martinson – Jefferies William Reuter – Bank of America Carla Casella – JPMorgan Robert Moskow – Credit Suisse David Palmer – Evercore Connor Rattigan – Consumer Edge Operator Good day and we ...

B&G Foods, Inc. (NYSE:BGS) Q1 2022 Earnings Conference Call May 5, 2022 4:30 PM ET Company Participants Sarah Jarolem - Senior Director, Corporate Strategy and Business Development Casey Keller - Chief Executive Officer Bruce Wacha - Chief Financial Officer Conference Call Participants William Reuter - Bank of America Michael Lavery - Piper Sandler Carla Casella - JPMorgan Karru Martinson - Jefferies Robert Moskow - Credit Suisse Eric Larson - Seaport Research Partners Ken Zaslow - Bank of Montreal Operator ...

Financial Data and Key Metrics Changes - The company achieved record first quarter net sales of $505.1 million, a 12.4% increase from Q1 2020 [6][9] - Adjusted EBITDA for the quarter was $92.9 million, a 15.2% increase compared to the prior year [8][12] - Adjusted diluted earnings per share increased to $0.52, up 13% from $0.46 in Q1 2020 [13][28] Business Line Data and Key Metrics Changes - Base business net sales, excluding the Crisco acquisition, were approximately $447 million, virtually flat with a 0.6% decline compared to Q1 2020 [7][10] - Spices & Seasonings net sales increased by $30 million or 41.2% for the quarter, reflecting strong consumer demand [14][15] - Green Giant net sales decreased by $25.9 million or 16.4% compared to the prior year quarter due to supply constraints [19][20] Market Data and Key Metrics Changes - U.S. base business net sales were up 2.1%, while international base business net sales were down 31.8% [7] - E-commerce retail sales grew by over 60% to $50 million in the first quarter, with expectations to reach $275 million for the full year [42][43] Company Strategy and Development Direction - The company is focused on maintaining margins amid rising costs through pricing strategies and cost-cutting initiatives [26][35] - The addition of Crisco is expected to enhance the company's baking-related product offerings, which will constitute approximately 20% of net sales [41] - The company is investing in e-commerce and marketing to adapt to changing consumer behaviors post-pandemic [45][95] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about inflationary pressures, particularly in agricultural products and freight costs, which are expected to persist [25][46] - The company anticipates a strong second half of the year, with full-year net sales expected to exceed fiscal 2019 levels for Green Giant products [20][51] - Management noted that the second quarter is expected to be the most challenging quarter of the year due to tough comparisons with the previous year [51] Other Important Information - The company is committed to corporate social responsibility initiatives, including diversity and sustainability efforts [48][50] - A new CEO, Casey Keller, is set to take over next month, bringing a strong operational background to the company [52] Q&A Session Summary Question: What skills does the new CEO bring to the company? - The new CEO has full P&L responsibility experience and a strong understanding of operations, which aligns with the company's focus on margin and cash flow [54][55] Question: What is the expected inflation for the year? - Inflation is expected to remain in low single digits for the first part of the year, but there are uncertainties regarding commodity prices in the latter part [56][58] Question: How is the company positioned for input costs? - The company is assuming elevated costs throughout the year but plans to manage these through pricing and cost-saving measures [78][80] Question: What is the outlook for the foodservice business? - The foodservice business has shown recovery, but the pace of recovery will depend on government restrictions and consumer behavior [71] Question: How does the company view the current M&A landscape? - The company is being patient with acquisitions, waiting for valuations to return to more realistic levels post-COVID-19 [72] Question: What are the company's cost reduction efforts focused on? - Cost reduction efforts are primarily focused on manufacturing and distribution efficiencies, not on headcount reductions [92][93]

B&G Foods, Inc. (NYSE:BGS) Q4 2020 Earnings Conference Call March 2, 2021 4:30 PM ET Company Participants David Wenner - Interim President and CEO Bruce Wacha - Chief Financial Officer Conference Call Participants Andrew Lazar - Barclays Tim Perz - Stephens, Inc. Brian Holland - D.A. Davidson William Reuter - Bank of America Ken Zaslow - Bank of Montreal David Palmer - Evercore ISI Karru Martinson - Jefferies Operator Good day. And welcome to the B&G Foods Fourth Quarter and Fiscal 2020 Earnings Call. Today ...

Table of Contents As filed with the Securities and Exchange Commission on March 2, 2021 For the fiscal year ended January 2, 2021 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to . Commission file number 001-32316 B&G FOODS, INC. (Exact name of Registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 13-3918742 (I.R.S. Employer Identification No.) Four Gatehall Drive, Parsipp ...

B&G Foods, Inc. (NYSE:BGS) Q3 2020 Earnings Conference Call November 5, 2020 4:30 PM ET Company Participants Ken Romanzi - President and Chief Executive Officer Bruce Wacha - Chief Financial Officer Conference Call Participants Brian Holland - D.A. Davidson Kevin Lehmann - Evercore ISI Michael Lavery - Piper Sandler Karru Martinson - Jefferies William Reuter - Bank of America Carla Casella - JP Morgan Hale Holden - Barclays Eric Larson - Seaport Global Securities Ken Zaslow - Bank of Montreal Robert Moskow ...

Financial Data and Key Metrics Changes - The company reported net sales of $512.5 million for Q2 2020, an increase of 38.1% year-over-year, with adjusted EBITDA growing 44.6% to $102.6 million [11][30][47] - Adjusted diluted earnings per share reached $0.71, up nearly 87% compared to the previous year [11][50] - Net cash flow from operating activities was $188.8 million for the quarter, totaling $246.4 million year-to-date [12][51] - The net debt to pro forma adjusted EBITDA ratio improved to 4.99, down from 6.1 at the start of the year [13][53] Business Line Data and Key Metrics Changes - The company experienced strong growth across its portfolio, with 85% of brands increasing net sales compared to the previous year [18][42] - Green Giant brand net sales increased by 45.4% to approximately $164.1 million, driven by strong consumption in both shelf-stable and frozen products [37][38] - Clabber Girl contributed approximately $26.5 million in net sales, significantly up from $8.4 million in the prior year [39] - Cream of Wheat saw a 54% increase in net sales, while Ortega and Victoria also reported strong growth [40] Market Data and Key Metrics Changes - The total B&G Foods portfolio grew 34.5% in consumption through retailer checkout lanes, significantly outpacing the total food and beverage growth rate [20] - E-commerce sales represented approximately 3% to 5% of total net sales, with Amazon sales growing 340% year-over-year [26] - The company gained or held market share in nearly three-quarters of its brands and categories [21] Company Strategy and Development Direction - The company plans to continue investing in brand innovation and e-commerce capabilities to capture long-term growth opportunities [60][65] - New product launches are scheduled for the fall, including various Green Giant products aimed at expanding market presence [61][62] - The company aims to maintain a stable base business while pursuing accretive acquisitions as part of its growth strategy [67] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that elevated consumption levels will persist as consumers continue to eat more meals at home [55][91] - The company anticipates continued strong financial performance throughout the remainder of the year, despite the challenges posed by COVID-19 [56][57] - Management acknowledged the unpredictability of the macro environment but remains focused on operational safety and meeting increased demand [58][59] Other Important Information - The company declared its 64th consecutive quarterly dividend, reflecting its commitment to returning value to shareholders [14] - Management highlighted the importance of maintaining a healthy balance sheet and reducing leverage to support future growth initiatives [54][75] Q&A Session Summary Question: What is driving the recent improvement in market share? - Management noted strong consumption growth since March, with innovations and promotional strategies contributing to improved performance [70][72] Question: Are there any changes in capital allocation priorities? - Management confirmed a focus on returning cash to shareholders while also investing in marketing and e-commerce to strengthen brand positioning [74][77] Question: What are the expectations for EBITDA margins in the second half? - Management indicated that while elevated sales will provide operating leverage, COVID-19 related costs may limit margin expansion [82][84] Question: How confident is the company about retaining new consumers post-pandemic? - Management expressed confidence that changes in consumer behavior will lead to sustained demand for their brands, even after the pandemic [90][91] Question: Are retailers preparing for a second wave of COVID-19? - Management observed an increase in average daily orders as retailers anticipate potential shutdowns, indicating readiness for increased demand [106]

B&G Foods, Inc. (NYSE:BGS) Q1 2020 Earnings Conference Call May 5, 2020 4:30 PM ET Company Participants Ken Romanzi – President and Chief Executive Officer Bruce Wacha – Chief Financial Officer Good day, and welcome to the B&G Foods First Quarter 2020 Earnings Call. TodayÂ's call is being recorded. You can access detailed financial information on the quarter in the companyÂ's earnings release issued today, which is available at Investor Relations section of bgfoods.com. Before the company begins its formal ...