B&G Foods(BGS)
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B&G Foods(BGS) - 2021 Q4 - Annual Report
2021-03-01 16:00
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(BGS) - 2020 Q3 - Earnings Call Transcript
2020-11-06 03:32
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 ...
B&G Foods(BGS) - 2020 Q2 - Earnings Call Transcript
2020-07-31 03:42
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(BGS) - 2020 Q1 - Earnings Call Transcript
2020-05-06 03:23
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 ...
B&G Foods(BGS) - 2019 Q4 - Annual Report
2020-02-26 20:36
Table of Contents As filed with the Securities and Exchange Commission on February 26, 2020 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark one) ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 28, 2019 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 Re ...
B&G Foods(BGS) - 2019 Q4 - Earnings Call Transcript
2020-02-26 03:51
B&G Foods, Inc. (NYSE:BGS) Q4 2019 Earnings Conference Call February 25, 2020 4:30 PM ET Company Participants Ken Romanzi – President and Chief Executive Officer Bruce Wacha – Chief Financial Officer Conference Call Participants Andrew Lazar – Barclays Karru Martinson – Jefferies Bryan Hunt – Wells Fargo Rob Dickerson – Jefferies Hale Holden – Barclays Ken Zaslow – Bank of Montreal Operator Good day. And welcome to the B&G Foods Fourth Quarter and Fiscal 2019 Earnings Call. Today’s call is being recorded. Y ...
B&G Foods(BGS) - 2019 Q3 - Earnings Call Transcript
2019-11-01 18:38
B&G Foods Inc (NYSE:BGS) Q3 2019 Results Earnings Conference Call October 31, 2019 4:30 PM ET Company Participants Ken Romanzi - President and Chief Executive Officer Bruce Wacha - Chief Financial Officer Conference Call Participants Karru Martinson - Jefferies Bryan Hunt - Wells Fargo Michael Lavery - Piper Jaffray Sarah Clark - JP Morgan Eric Larson - Buckingham Research Group David Palmer - Evercore ISI Operator Good day. And welcome to the B&G Foods Third Quarter 2019 Earnings Call. Today's call is bein ...
B&G Foods(BGS) - 2019 Q2 - Earnings Call Transcript
2019-08-02 01:28
B&G Foods, Inc. (NYSE:BGS) Q2 2019 Results Conference Call August 1, 2019 4:30 PM ET Company Participants Ken Romanzi - President and Chief Executive Officer Bruce Wacha - Chief Financial Officer Conference Call Participants Bryan Hunt - Wells Fargo Karru Martinson - Jefferies Robert Moskow - Credit Suisse Carla Casella - JP Morgan William Reuter - Bank of America Merrill Lynch David Palmer - Evercore ISI Eric Larson - Buckingham Research Group Andrew Lazar - Barclays Ken Zaslow - Bank of Montreal Operator ...
B&G Foods(BGS) - 2019 Q1 - Earnings Call Transcript
2019-05-03 11:36
B&G Foods, Inc. (NYSE:BGS) Q1 2019 Earnings Conference Call May 2, 2019 4:30 PM ET Company Participants Kenneth Romanzi - President and Chief Executive Officer Bruce Wacha - Executive Vice President and Chief Financial Officer Conference Call Participants Cornell Burnette - Citi Karru Martin - Jeffries Bryan Hunt - Wells Fargo Securities Kenneth Zaslow - Bank of Montreal Carla Casella - JP Morgan Eric Larson - Buckingham Research Group Hale Holden - Barclays Capital John Henderson - William Blair Operator G ...
B&G Foods(BGS) - 2018 Q4 - Earnings Call Transcript
2019-02-27 05:25
B&G Foods, Inc. (NYSE:BGS) Q4 2018 Earnings Conference Call February 26, 2019 4:30 PM ET Company Participants Bob Cantwell – President and Chief Executive Officer Bruce Wacha – Chief Financial Officer Ken Romanzi – Chief Operating Officer Conference Call Participants Cornell Burnette – Citi Research Karru Martinson – Jefferies Dave Cook – Wells Fargo William Reuter – Bank of America Ken Zaslow – Bank of Montreal Michael Gallo – C.L. King Carla Casella – JP Morgan Eric Larson – Buckingham Research Group Andr ...