[Executive Summary & Guidance](index=1&type=section&id=executive_summary_and_guidance) This section provides an overview of B&G Foods' financial performance, strategic initiatives, and revised full-year 2025 guidance [Performance Highlights](index=1&type=section&id=performance_highlights) B&G Foods reported a decline in key financial metrics for the second quarter and first half of 2025 compared to the prior year. Net sales, diluted EPS, and adjusted EBITDA all decreased, with the company experiencing a net loss in both periods Q2 & H1 2025 Financial Summary (vs. 2024) | Metric | Q2 2025 | Q2 Change | H1 2025 | H1 Change | | :--- | :--- | :--- | :--- | :--- | | Net Sales | $424.4M | (4.5)% | $849.8M | (7.6)% | | Base Business Net Sales | $422.6M | (4.2)% | $844.6M | (7.5)% | | Diluted EPS | $(0.12) | (340.0)% | $(0.11) | 76.1% | | Adjusted Diluted EPS | $0.04 | (50.0)% | $0.08 | (70.4)% | | Net Loss | $(9.8)M | (348.1)% | $(8.9)M | 75.4% | | Adjusted Net Income | $2.9M | (56.1)% | $6.3M | (69.8)% | | Adjusted EBITDA | $58.0M | (9.3)% | $117.1M | (15.7)% | [Management Commentary & Strategic Initiatives](index=1&type=section&id=management_commentary_and_strategic_initiatives) The CEO noted sequential improvement in Q2 after a challenging Q1 and expects further improvement in the second half of 2025. The company is actively reshaping its portfolio through divestitures to simplify the business, improve margins, and enhance cash flow - Management is focusing on reshaping and restructuring the company's portfolio to sharpen focus and improve financial performance[3](index=3&type=chunk) - The company completed the divestitures of the Don Pepino and Sclafani brands in Q2 and the Le Sueur brand in Q3[3](index=3&type=chunk) [Full Year 2025 Guidance](index=1&type=section&id=full_year_2025_guidance) B&G Foods has revised its full-year fiscal 2025 guidance downwards. The new guidance anticipates net sales between $1.83 billion and $1.88 billion, with adjusted diluted EPS expected to be in the range of $0.50 to $0.60 Revised Full Year 2025 Guidance | Metric | Revised Range | | :--- | :--- | | Net Sales | $1.83 billion to $1.88 billion | | Adjusted EBITDA | $273.0 million to $283.0 million | | Adjusted Diluted EPS | $0.50 to $0.60 | - The guidance does not account for potential impacts from tariffs or other trade barriers due to the uncertain political and economic environment[28](index=28&type=chunk) [Consolidated Financial Performance](index=1&type=section&id=consolidated_financial_performance) This section details B&G Foods' consolidated financial results for the second quarter and first half of 2025, highlighting key revenue and profitability metrics [Second Quarter 2025 Financial Results](index=1&type=section&id=second_quarter_2025_financial_results) In Q2 2025, net sales fell 4.5% to $424.4 million, driven by lower volume, unfavorable pricing/mix, and foreign currency impacts. The company reported a net loss of $9.8 million, a significant decline from a $3.9 million net income in Q2 2024, primarily due to a $12.6 million loss on the sale of brands. Adjusted EBITDA also decreased by 9.3% to $58.0 million - Q2 net sales decreased by **$20.2 million (4.5%)** to **$424.4 million**, primarily due to a decrease in volume[4](index=4&type=chunk)[5](index=5&type=chunk) - Adjusted gross profit margin remained flat at **21.0%** year-over-year[6](index=6&type=chunk) - The company reported a net loss of **$9.8 million**, or **($0.12)** per diluted share, largely attributable to a **$12.6 million** loss on the sale of the Don Pepino and Sclafani brands[10](index=10&type=chunk) - Adjusted EBITDA for Q2 2025 was **$58.0 million**, a **9.3%** decrease from **$63.9 million** in Q2 2024[12](index=12&type=chunk) [First Two Quarters 2025 Financial Results](index=2&type=section&id=first_two_quarters_2025_financial_results) For the first half of 2025, net sales declined 7.6% to $849.8 million, with base business net sales down 7.5%. The company's net loss narrowed to $8.9 million from $36.3 million in the prior-year period, which had included a significant goodwill impairment charge. Adjusted EBITDA for the period fell 15.7% to $117.1 million - Net sales for the first two quarters of 2025 decreased by **$70.0 million (7.6%)** to **$849.8 million**, driven by lower volume and unfavorable pricing/mix[13](index=13&type=chunk)[14](index=14&type=chunk) - The net loss for H1 2025 was **$8.9 million**, an improvement from a **$36.3 million** loss in H1 2024. The prior year's loss was primarily due to a **$70.6 million** goodwill impairment charge[18](index=18&type=chunk) - Adjusted net income for H1 2025 was **$6.3 million**, a significant decrease from **$21.0 million** in H1 2024, mainly due to the reduction in net sales[19](index=19&type=chunk) - Adjusted EBITDA for the first two quarters of 2025 decreased by **15.7%** to **$117.1 million**[20](index=20&type=chunk) [Segment Performance Analysis](index=3&type=section&id=segment_performance_analysis) This section analyzes the financial performance of B&G Foods' key business segments, including Specialty, Meals, Frozen & Vegetables, and Spices & Flavor Solutions [Specialty Segment](index=3&type=section&id=specialty_segment) The Specialty segment's net sales declined 8.0% in Q2 and 10.6% in H1 2025, primarily due to decreased volumes and lower net pricing. Despite the sales drop, Q2 adjusted EBITDA increased by 3.0% to $32.7 million, benefiting from lower raw material costs Specialty Segment Performance (in thousands) | Period | Net Sales | % Change | Adj. EBITDA | % Change | | :--- | :--- | :--- | :--- | :--- | | Q2 2025 | $134,859 | (8.0)% | $32,650 | 3.0% | | H1 2025 | $269,259 | (10.6)% | $66,170 | (3.9)% | - The decrease in net sales for both Q2 and H1 was driven by lower volumes and reduced net pricing[23](index=23&type=chunk) [Meals Segment](index=4&type=section&id=meals_segment) The Meals segment saw a net sales decrease of 3.5% in Q2 and 7.8% in H1 2025, driven by lower volumes. However, adjusted EBITDA grew 7.7% in Q2 and 2.4% in H1, positively impacted by increased net pricing and favorable product mix Meals Segment Performance (in thousands) | Period | Net Sales | % Change | Adj. EBITDA | % Change | | :--- | :--- | :--- | :--- | :--- | | Q2 2025 | $104,079 | (3.5)% | $25,745 | 7.7% | | H1 2025 | $210,221 | (7.8)% | $50,719 | 2.4% | - The increase in adjusted EBITDA was primarily due to higher net pricing and improved product mix, which offset the impact of lower sales volumes[24](index=24&type=chunk) [Frozen & Vegetables Segment](index=4&type=section&id=frozen_%26_vegetables_segment) The Frozen & Vegetables segment experienced a 2.8% decline in Q2 net sales and a 7.3% decline in H1. The segment reported a significant drop in profitability, with adjusted EBITDA turning to a loss of $2.7 million in Q2 and $4.2 million in H1, driven by lower sales, increased promotions, higher costs, and tariffs Frozen & Vegetables Segment Performance (in thousands) | Period | Net Sales | % Change | Adj. EBITDA | % Change | | :--- | :--- | :--- | :--- | :--- | | Q2 2025 | $88,989 | (2.8)% | $(2,730) | (171.7)% | | H1 2025 | $182,108 | (7.3)% | $(4,203) | (136.1)% | - The sharp decrease in adjusted EBITDA was attributed to lower net sales, increased trade promotions, higher raw material and manufacturing costs, and the impact of tariffs[25](index=25&type=chunk) [Spices & Flavor Solutions Segment](index=4&type=section&id=spices_%26_flavor_solutions_segment) Net sales for the Spices & Flavor Solutions segment decreased by 2.0% in Q2 and 3.0% in H1, mainly due to volume declines. Adjusted EBITDA fell 12.8% in Q2 and 10.5% in H1, impacted by lower sales, unfavorable product mix, and increased raw material costs for items like garlic and black pepper Spices & Flavor Solutions Segment Performance (in thousands) | Period | Net Sales | % Change | Adj. EBITDA | % Change | | :--- | :--- | :--- | :--- | :--- | | Q2 2025 | $96,498 | (2.0)% | $24,119 | (12.8)% | | H1 2025 | $188,239 | (3.0)% | $50,388 | (10.5)% | - The decrease in adjusted EBITDA was primarily due to lower net sales, product mix impact, and rising costs for key raw materials such as garlic and black pepper[26](index=26&type=chunk) [Financial Statements and Reconciliations](index=10&type=section&id=financial_statements_and_reconciliations) This section presents B&G Foods' unaudited consolidated financial statements and detailed reconciliations of non-GAAP financial measures to their GAAP equivalents [Consolidated Financial Statements](index=10&type=section&id=consolidated_financial_statements) The report includes unaudited consolidated balance sheets as of June 28, 2025, and December 28, 2024, showing total assets of $2.94 billion. The consolidated statements of operations detail the company's performance for the second quarter and first half of 2025 and 2024 - Total assets decreased slightly to **$2.937 billion** as of June 28, 2025, from **$2.994 billion** at the end of fiscal 2024[44](index=44&type=chunk) - The Consolidated Statements of Operations provide a detailed breakdown of revenues, costs, and expenses leading to the net loss for the reported periods[46](index=46&type=chunk) [Reconciliation of Non-GAAP Measures](index=12&type=section&id=reconciliation_of_non-gaap_measures) The company provides detailed reconciliations for its non-GAAP financial measures to the most directly comparable GAAP measures. These include reconciliations for EBITDA, Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted EPS, Base Business Net Sales, and Adjusted Gross Profit, which are used by management to assess ongoing operational performance - The report includes reconciliations of Net Income to EBITDA and Adjusted EBITDA, showing adjustments for items like acquisition/divestiture expenses and loss on sales of assets[48](index=48&type=chunk) - A reconciliation of Net Sales to Base Business Net Sales is provided to show performance excluding the impact of recent divestitures[57](index=57&type=chunk)[58](index=58&type=chunk) - The reconciliation of Net Income to Adjusted Net Income and Adjusted Diluted EPS adjusts for items such as gains on debt extinguishment, loss on asset sales, and related tax effects[53](index=53&type=chunk) [Other Information](index=5&type=section&id=other_information) This section provides context on the company's use of non-GAAP financial measures and outlines key forward-looking statements and associated risk factors [About Non-GAAP Financial Measures](index=5&type=section&id=about_non-gaap_financial_measures) The company explains its use of non-GAAP financial measures such as adjusted EBITDA, adjusted net income, and base business net sales. Management believes these metrics provide a clearer view of ongoing operating performance and allow for more meaningful period-to-period comparisons by excluding certain items that affect comparability - B&G Foods uses non-GAAP measures to allow investors to make meaningful comparisons of operating performance between periods, consistent with management's own evaluation[33](index=33&type=chunk) - Key non-GAAP measures include adjusted net income, adjusted diluted EPS, base business net sales, EBITDA, and adjusted EBITDA[32](index=32&type=chunk) [Forward-Looking Statements & Risk Factors](index=6&type=section&id=forward-looking_statements_and_risk_factors) This section contains standard cautionary language regarding forward-looking statements, including the company's financial guidance. It outlines numerous risks and uncertainties that could cause actual results to differ materially, such as substantial leverage, international trade disputes, cost inflation, intense competition, and supply chain disruptions - The press release contains forward-looking statements concerning expectations for the remainder of fiscal 2025, which are subject to various risks and uncertainties[37](index=37&type=chunk) - Key risk factors mentioned include the company's substantial leverage, effects of trade tariffs, rising commodity costs, intense competition, and potential supply chain disruptions[37](index=37&type=chunk)[39](index=39&type=chunk)

Core Insights - The Hispanic foods market is projected to grow by USD 533.4 million from 2024 to 2029, with a compound annual growth rate (CAGR) of 6.3% during this period [1][2]. Market Dynamics - Evolving consumer lifestyles and increasing demand for healthy, convenient food options are shaping current market dynamics [2]. - The expansion of the retail landscape and frequent introduction of new products are also contributing to market growth [2]. Growth Drivers - There is a notable increase in consumer demand for gluten-free tortillas, which is a significant factor driving market growth [3]. - The rise in popularity of mobile food service outlets and a surge in mergers and acquisitions are expected to further boost demand in the market [3]. Market Segmentation - The market is segmented by type, product, distribution channel, and geographical landscape [4][5]. - Key product categories include tortillas, tacos, burritos, and enchiladas, with traditional, Tex-Mex, and fusion styles being prominent [5]. Vendor Analysis - The report includes a detailed vendor analysis of around 25 industry players, such as B and G Foods Inc., Campbell Soup Co., and Corporativo Bimbo SA de CV [4][6]. - This analysis aims to enhance clients' competitive positioning and alert stakeholders to emerging trends and challenges [4]. Market Characteristics - The report synthesizes data from various sources, focusing on key parameters like profit margins, pricing strategies, competition, and promotional activities [6]. - It provides insights into market size, forecasts, trends, growth drivers, and challenges [3][6].

Group 1 - B&G Foods, Inc. has learned from past M&A missteps, particularly the Green Giant acquisition, and is now cautious in its M&A strategies to avoid future errors [1] - The company is focusing on strategic growth while being mindful of the potential pitfalls associated with mergers and acquisitions [1] Group 2 - The article emphasizes the importance of careful planning and execution in M&A activities for expanding companies [1]

Core Insights - B&G Foods, Inc. reported first-quarter fiscal 2025 results with both net sales and earnings missing the Zacks Consensus Estimate, showing a year-over-year decline in both metrics [1][3][12] Financial Performance - Adjusted earnings were 4 cents per share, missing the estimate of 14 cents, and down 77.8% from 18 cents in the prior-year quarter [3][12] - Net sales decreased by 10.5% year over year to $425.4 million, falling short of the estimate of $461 million, attributed to lower volumes, reduced net pricing, unfavorable product mix, and negative foreign currency effects [3][4] - Adjusted gross profit was $90.6 million, down from $109.9 million in the previous year, with an adjusted gross margin contraction of 180 basis points to 21.3% [4] Cost and Expenses - SG&A expenses rose by 1.1% to $49.1 million, influenced by acquisition-related costs and a slight increase in general and administrative expenses, partially offset by reductions in consumer marketing and selling expenses [5] - Adjusted EBITDA fell 21.2% to $59.1 million, reflecting lower net sales and increased costs, with an adjusted EBITDA margin contraction of 190 basis points to 13.9% [6] Segment Performance - Specialty segment net sales were $134.4 million, down 13.1% year over year due to lower net pricing and decreased volumes [7] - Meals segment net sales decreased by 11.6% to $106.1 million, driven by lower volumes and a decrease in net pricing [7] - Frozen & Vegetables segment net sales fell 11.2% to $93.1 million, impacted by lower net pricing and volume declines [7] - Spices & Flavor Solutions segment net sales were $91.7 million, down 4% year over year due to volume declines [8] Financial Health - At the end of the quarter, B&G Foods had cash and cash equivalents of $61.2 million, net long-term debt of $2 billion, and total shareholders' equity of $513.1 million [9] - Net cash provided by operating activities was $52.7 million for the fiscal first quarter [9] Outlook - For fiscal 2025, management revised net sales guidance to a range of $1.860 billion to $1.910 billion, down from the previous estimate of $1.890 billion to $1.950 billion [11] - Adjusted EBITDA is now projected to be between $280 million and $290 million, lower than the previous outlook [11] - Adjusted EPS guidance for fiscal 2025 was revised to a range of 55-65 cents, down from 65-75 cents, compared to adjusted EPS of 70 cents in fiscal 2024 [12]

Financial Data and Key Metrics Changes - Net sales for Q1 2025 decreased by 10.5% to $425.4 million from $475.2 million in Q1 2024, with a significant decline of almost 20% in January [6][19] - Adjusted EBITDA fell by $15.9 million to $59.1 million, representing 13.9% of net sales compared to 15.8% in Q1 2024 [7][27] - Adjusted net income was $3.4 million or $0.04 per adjusted diluted share, down from $14.4 million or $0.18 per adjusted diluted share in Q1 2024 [28] Business Line Data and Key Metrics Changes - Specialty segment net sales decreased by 13.1% to $134.4 million, with adjusted EBITDA down by 9.9% [28][29] - Meals segment net sales fell by 11.6% to $106.1 million, with adjusted EBITDA decreasing by approximately $700,000 [29][30] - Frozen and vegetables segment net sales dropped by 11.2% to $93.1 million, with adjusted EBITDA turning negative at -$1.5 million compared to $7.8 million in the prior year [30][31] - Spices and Flavor Solutions segment net sales decreased by 4% to $91.7 million, with adjusted EBITDA down by 8.4% [32] Market Data and Key Metrics Changes - Consumption trends across measured and unmeasured channels were approximately -6% in Q1, with improvement noted in April to -2% [8][12] - Retailer inventories were significantly reduced, impacting net sales by an estimated $15 million in Q1 [9] - The Canadian market showed mid-single-digit net sales growth for frozen and vegetables despite currency translation impacts [22] Company Strategy and Development Direction - The company is focused on reshaping its portfolio to improve margins and cash flow, with a target of adjusted EBITDA as a percentage of net sales approaching 20% [13][14] - Plans include evaluating divestitures of non-core businesses and potential sales of frozen and vegetable assets [14][15] - The company aims to reduce leverage to below five times through divestitures and excess cash flow [37] Management Comments on Operating Environment and Future Outlook - Management acknowledged a challenging start to 2025 but noted improving trends in April and early May [5][12] - The company revised its fiscal year 2025 guidance down to net sales of $1.86 billion to $1.91 billion and adjusted EBITDA of $280 million to $290 million [12][34] - There is uncertainty regarding consumer behavior and inflation impacts, but management expects to lap negative comps by mid-2025 [12][60] Other Important Information - Promotional trade spending increased significantly, impacting gross profit margins [24][27] - The company is monitoring input cost inflation and foreign exchange impacts, particularly related to the Mexican peso [25][26] Q&A Session Summary Question: Impact of tariffs on potential sale of Frozen - Management indicated that ongoing M&A discussions are not typically commented on, but the Green Giant business is compliant under USMCA, minimizing tariff impacts [39][41] Question: Accelerating portfolio changes due to stock reaction - Management confirmed that efforts to accelerate portfolio shaping and cost reduction programs were already in progress prior to the stock reaction [49][50] Question: Clarification on consumption trends and Easter effects - Management noted that while there may be some Easter benefits, the underlying consumption trends are improving gradually [52] Question: Retailer inventory reduction and potential volume recoup - Management believes the inventory reductions are largely permanent, with limited expectations for recouping lost volume [59] Question: Promotional spending moving forward - Management plans to resume more normal promotional spending rates after the aggressive promotional investments made in Q1 [77][78]

Financial Data and Key Metrics Changes - Net sales for Q1 2025 decreased by 10.5% to $425.4 million from $475.2 million in Q1 2024, with a significant decline of almost 20% in January [6][15][18] - Adjusted EBITDA fell by $15.9 million to $59.1 million, representing 13.9% of net sales compared to 15.8% in Q1 2024 [6][15][26] - Adjusted net income was $3.4 million or $0.04 per adjusted diluted share, down from $14.4 million or $0.18 per adjusted diluted share in Q1 2024 [27] Business Line Data and Key Metrics Changes - Specialty segment net sales decreased by 13.1% to $134.4 million, with adjusted EBITDA down by 9.9% [27][28] - Meals segment net sales fell by 11.6% to $106.1 million, with adjusted EBITDA decreasing by approximately $700,000 [28][29] - Frozen and vegetables segment net sales dropped by 11.2% to $93.5 million, with adjusted EBITDA turning negative at -$1.5 million compared to $7.8 million in the previous year [29][30] - Spices and Flavor Solutions segment net sales decreased by 4% to $91.7 million, with adjusted EBITDA down by 8.4% [30][31] Market Data and Key Metrics Changes - Consumption trends across measured and unmeasured channels were approximately -6% in Q1, with an improvement to -2% in April [7][11] - Retailer inventories were reduced by almost two weeks, impacting net sales by approximately $15 million [8][16] - The Canadian market showed mid-single-digit net sales growth for frozen and vegetables despite currency translation impacts [20] Company Strategy and Development Direction - The company is focused on reshaping its portfolio to improve margins and cash flow, with a target of adjusted EBITDA as a percentage of net sales approaching 20% [12][13] - Plans include divesting non-core businesses and utilizing proceeds to pay down debt [13][14] - The company aims to reduce leverage below 5.5 times through divestitures and excess cash flow [37] Management Comments on Operating Environment and Future Outlook - Management noted a challenging start to 2025 but expressed optimism about improving trends in April and early May [5][11] - The company revised its fiscal year 2025 guidance down to net sales of $1.86 billion to $1.91 billion and adjusted EBITDA of $280 million to $290 million [11][34] - Management highlighted the uncertainty in consumer behavior and the impact of tariffs on future operations [35][36] Other Important Information - The company implemented cost reduction efforts expected to yield $10 million in savings for the year, with a run rate of $15 million to $20 million [12][34] - Input cost inflation remains modest, but certain categories like black pepper and garlic are experiencing elevated costs [23][24] Q&A Session Summary Question: Impact of tariffs on potential sale of Frozen - Management indicated that ongoing M&A discussions are not typically commented on, but the Green Giant business is compliant under USMCA, minimizing tariff impacts [38][40] Question: Accelerating portfolio changes due to stock reaction - Management confirmed that they were already accelerating portfolio shaping efforts and cost reduction programs prior to the stock reaction [47][48] Question: Expectations of recouping lost volume from retailer inventory reduction - Management believes the inventory reduction is largely permanent, with minimal expectation of recouping lost volume [58] Question: Confidence in consumer behavior changes - Management expressed that the process of lapping negative consumer behavior will be gradual, with expectations for improvement in the second half of the year [60][62] Question: Promotional spending moving forward - Management plans to resume more normal promotional spending rates after the aggressive promotional investments made in Q1 [76][77]

Company Performance - B&G Foods reported quarterly earnings of $0.04 per share, missing the Zacks Consensus Estimate of $0.14 per share, and down from $0.18 per share a year ago, representing an earnings surprise of -71.43% [1] - The company posted revenues of $425.4 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 7.72%, and down from $475.22 million year-over-year [2] - Over the last four quarters, B&G Foods has not surpassed consensus EPS estimates and has topped consensus revenue estimates only twice [2] Stock Performance - B&G Foods shares have declined approximately 8.4% since the beginning of the year, compared to a -4.7% decline in the S&P 500 [3] - The current consensus EPS estimate for the upcoming quarter is $0.07 on revenues of $435.7 million, and for the current fiscal year, it is $0.69 on revenues of $1.92 billion [7] Industry Outlook - The Zacks Industry Rank for Food - Miscellaneous is currently in the top 38% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that industry outlook can significantly impact stock performance [5][8]

Financial Performance - Net sales for Q1 2025 decreased by $49.8 million, or 10.5%, to $425.4 million compared to $475.2 million in Q1 2024[4] - Adjusted EBITDA for Q1 2025 was $59.1 million, a decrease of $15.9 million, or 21.2%, from $75.0 million in Q1 2024[13] - Adjusted diluted EPS for Q1 2025 was $0.04, down 77.8% from $0.18 in Q1 2024[12] - Specialty segment net sales decreased by $20.3 million, or 13.1%, to $134.4 million in Q1 2025[16] - Meals segment net sales decreased by $13.9 million, or 11.6%, to $106.1 million in Q1 2025[17] - Frozen & Vegetables segment net sales decreased by $11.8 million, or 11.2%, to $93.1 million in Q1 2025[18] - Spices & Flavor Solutions segment net sales decreased by $3.8 million, or 4.0%, to $91.7 million in Q1 2025[19] - Net sales for the first quarter of 2025 were $425,402, a decrease of 10.5% from $475,223 in the same period of 2024[39] - Gross profit for the first quarter of 2025 was $90,087, down 17.3% from $108,881 in the first quarter of 2024[39] - Operating income for the first quarter of 2025 was $35,846, compared to a loss of $15,558 in the first quarter of 2024[39] - Adjusted EBITDA for the first quarter of 2025 was $59,138, a decline of 21.3% from $75,045 in the first quarter of 2024[41] - Net income for the first quarter of 2025 was $835, a significant improvement from a net loss of $40,239 in the first quarter of 2024[41] - Segment net sales for Specialty decreased to $134,400 from $154,729, representing a decline of 13.1% year-over-year[40] Guidance and Expectations - The company revised its full-year net sales guidance to a range of $1.86 billion to $1.91 billion[20] - The adjusted EBITDA guidance for fiscal 2025 was revised to a range of $280.0 million to $290.0 million[20] - The company expects to achieve significant cost savings during the remainder of fiscal 2025[32] Asset and Liability Management - Total current assets decreased from $781,444,000 as of December 28, 2024, to $758,259,000 as of March 29, 2025, a decline of approximately 3%[37] - Trade accounts receivable decreased from $172,260,000 to $138,391,000, representing a decrease of about 20%[37] - Cash and cash equivalents increased from $50,583,000 to $61,235,000, an increase of approximately 21%[37] - Total liabilities decreased from $2,469,245,000 to $2,440,716,000, a reduction of about 1%[37] - Long-term debt, net of current portion, decreased from $2,014,823,000 to $2,000,022,000, a decrease of approximately 1%[37] - Retained earnings decreased from $528,759,000 to $516,581,000, a decline of about 2%[37] Strategic Focus - The company is focused on improving core business net sales trends and reducing leverage through divestitures and excess cash flow[3] - The company is focused on expanding its brand portfolio and developing new products to compete effectively in the market[34] - The company aims to successfully implement sustainability initiatives and adopt new technologies, including artificial intelligence[34] Risks and Challenges - The company is facing risks related to international trade disputes and rising costs of commodities and raw materials[34] Cash Flow and Dividends - The company reported net cash provided by operating activities of $52,745, an increase from $35,122 in the first quarter of 2024[43] - Cash dividends declared per share remained stable at $0.19 for both the first quarter of 2025 and 2024[39] Non-GAAP Measures - The company uses base business net sales as a non-GAAP measure to assess operating performance, excluding sales from acquisitions and discontinued brands[49] - The company believes adjusted gross profit measures provide useful trend information by eliminating the effects of acquisitions and divestitures[51] - Management does not consider acquisition/divestiture-related expenses when evaluating performance or resource allocation decisions[51] - The company aims to provide meaningful comparisons of operating performance between periods through non-GAAP financial measures[51]

Company Overview - B&G Foods, Inc. (BGS) is expected to report a decline in both revenue and earnings for the first quarter of 2025, with revenue estimated at $461 million, reflecting a 3% decrease from the same quarter last year [1] - The earnings consensus estimate remains unchanged at 14 cents per share, indicating a 22.2% decrease compared to the previous year [2] Key Factors Impacting Earnings - The challenging consumption environment continues to affect B&G Foods, with retailers reducing holiday and seasonal merchandising earlier than anticipated, leading to weaker shipments and overall demand softness [2] - Macroeconomic pressures, including persistent food inflation and changes in consumer spending behavior, have resulted in subdued sales trends for B&G Foods [3] - The company anticipates volume headwinds to persist into the first half of 2025, as consumers remain cautious due to elevated prices, which is likely to impact volumes in the upcoming quarter [3] Strategic Initiatives - B&G Foods is focusing on portfolio reshaping, targeting high-margin segments, and implementing cost-saving initiatives, which may provide some support to its performance [4] - Key efforts include innovation in spices and Mexican meals, as well as operational efficiencies aimed at bolstering consumer demand and profitability [4] Earnings Prediction Model - The current model does not predict an earnings beat for B&G Foods, as it holds a Zacks Rank of 3 (Hold) and an Earnings ESP of 0.00% [5]

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