B&G Foods Cuts View on Q3 Earnings Miss, Soft Consumption Trends

B&G Foods, Inc. (BGS) posted third-quarter 2024 results, wherein the top and bottom lines missed the Zacks Consensus Estimate. Both net sales and earnings experienced year-over-year declines.Sales were impacted by the divestiture of the Green Giant U.S. shelf-stable product line (divested on Nov. 8, 2023), lower unit volumes and consumer purchasing patterns, influenced by high food inflation. However, the Spices and Flavor Solutions business showed positive trends, representing an offset to the overall sale ...