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B&G Foods, Inc. (NYSE: BGS), based in Parsippany, New Jersey, is a prominent American manufacturer and distributor of a diverse range of high-quality, branded shelf-stable and frozen foods. The company's products are recognized across the United States, Canada, and Puerto Rico, catering to a broad spectrum of consumer tastes and preferences.
B&G Foods' extensive portfolio includes well-known brands such as Ac’cent, B&G, B&M, Baker’s Joy, Bear Creek Country Kitchens, Brer Rabbit, Canoleo, Cary’s, Cream of Rice, Cream of Wheat, Devonsheer, Don Pepino, Emeril’s, Grandma’s Molasses, J.J. Flats, Joan of Arc, Las Palmas, MacDonald’s, Mama Mary’s, Maple Grove Farms, Molly McButter, Mrs. Dash, New York Flatbreads, New York Style, Old London, Original Tings, Ortega, Pirate’s Booty, Polaner, Red Devil, Regina, Rickland Orchards, Sa-són, Sclafani, Smart Puffs, Spring Tree, Sugar Twin, Trappey’s, TrueNorth, Underwood, Vermont Maid, and Wright’s. Additionally, B&G Foods markets the household product brand, Static Guard.
In recent news, B&G Foods announced a significant partnership with the historic Four Sixes (6666) Ranch to introduce a new line of Four Sixes™ Seasonings, BBQ & Hot Sauces. This collaboration aims to bring the authentic flavors of the iconic 154-year-old ranch in Guthrie, Texas, to home cooks nationwide. The new product line, crafted with historical recipes from the ranch, is set to include over a dozen varieties of seasoning blends, BBQ sauces, and hot sauces. This venture highlights B&G Foods' commitment to delivering authentic and high-quality flavor solutions to its customers.
The company's financial condition remains robust, supported by its diversified product offerings and strategic partnerships. B&G Foods continues to focus on expanding its market presence and enhancing its brand portfolio to meet the evolving needs of consumers. For individuals seeking employment opportunities, B&G Foods provides career options at B&G Foods Careers.
B&G Foods (NYSE: BGS) reported Q4 2024 financial results showing a 4.6% decrease in net sales to $551.6 million, primarily due to the Green Giant U.S. shelf-stable divestiture and decreased unit volume. The company posted a net loss of $222.4 million ($2.81 per share) in Q4, largely due to $320.0 million in pre-tax, non-cash impairment charges.
For full-year 2024, net sales decreased 6.3% to $1,932.5 million, with a net loss of $251.3 million ($3.18 per share). The company's adjusted EBITDA for 2024 was $295.4 million, down 7.1% from 2023.
Looking ahead, B&G Foods provided 2025 guidance projecting:
- Net sales of $1.890-1.950 billion
- Adjusted EBITDA of $290.0-300.0 million
- Adjusted diluted EPS of $0.65-0.75
B&G Foods (NYSE: BGS) has declared a regular quarterly cash dividend of $0.19 per share of common stock. The dividend will be payable on April 30, 2025 to stockholders of record as of March 31, 2025. Based on the closing market price of the common stock on February 24, 2025, this dividend rate represents an annualized yield of 11.3%. This marks the 82nd consecutive quarterly dividend declared by the Board of Directors since B&G Foods' initial public offering in October 2004.
B&G Foods (NYSE: BGS) has released details about the tax treatment of common stock dividends paid in 2024. The company distributed a total of $0.76 per share across four quarterly payments of $0.19 each. Notably, all distributions will be treated as a return of capital with no portion being treated as a taxable dividend.
According to U.S. federal income tax laws, the return of capital portion should reduce shareholders' tax basis in their common stock up to their adjusted basis, with any excess treated as capital gains. The dividends were paid on January 30, April 30, July 30, and October 30, 2024.
B&G Foods (NYSE: BGS) has announced it will release its fourth quarter and fiscal 2024 financial results after market close on Tuesday, February 25, 2025. The company will host a conference call at 4:30 p.m. ET on the same day, featuring President and CEO Casey Keller and CFO Bruce Wacha. Investors can access both the earnings release and live audio webcast through the company's investor relations website, where a replay will also be available after the call.
Dash™, America's leading salt-free seasoning brand, has announced a partnership with Peloton instructor Hannah Corbin. The collaboration, beginning in January 2025, will feature Corbin creating recipes and social media content that showcase Dash™ seasonings as a customizable salt-free flavoring option.
Corbin will develop content featuring Dash™'s popular varieties including Garlic & Herb, Lemon Pepper, Extra Spicy, and Everything But The Salt. The partnership aims to demonstrate how consumers can maintain flavorful meals while controlling their salt intake. Marketing Director Ike Kim highlighted that the collaboration aligns with consumers' individual wellness journeys, offering a way to enhance meals without compromising on taste.
Ortega, a leading Mexican food brand owned by B&G Foods (NYSE: BGS), has appointed Schafer Condon Carter (SCC) as its new agency of record. SCC will lead creative efforts and develop a refreshed media plan for Ortega's product line, including America's #1 taco sauce, taco shells, kits, seasonings, and peppers. The partnership aims to enhance brand visibility and engage in-aisle Mexican food consumers through innovative marketing approaches.
The collaboration represents SCC's expansion in the food and beverage sector, following their recent appointment as Agency of Record for the U.S. Highbush Blueberry Council. The agency plans to create fresh campaigns that connect with both loyal customers and new consumers while highlighting Ortega's position as the market leader in taco sauce.
B&G Foods (NYSE: BGS) reported Q3 2024 financial results showing net sales decreased 8.3% to $461.1 million. The company posted net income of $7.5 million ($0.09 per diluted share), compared to a net loss of $82.7 million in Q3 2023. Adjusted EBITDA decreased 12.5% to $70.4 million. The company revised its fiscal 2024 guidance, projecting net sales of $1.920-1.950 billion, adjusted EBITDA of $295-305 million, and adjusted diluted EPS of $0.67-0.77. Results reflect slower recovery in sales trends and the impact of the Green Giant U.S. shelf-stable divestiture.
B&G Foods (NYSE: BGS) has announced a quarterly cash dividend of $0.19 per share of common stock. The dividend will be paid on January 30, 2025, to stockholders of record as of December 31, 2024. Based on the closing market price on October 29, 2024, this represents an annualized yield of 8.6%. This marks the company's 81st consecutive quarterly dividend since its IPO in October 2004.
B&G Foods (NYSE: BGS) announced it will release its third quarter 2024 financial results after market close on Tuesday, November 5, 2024. The company will host a conference call at 4:30 p.m. ET on the same day, featuring President and CEO Casey Keller and CFO Bruce Wacha. Investors can access the earnings release and live audio webcast through the company's investor relations website, where a replay will also be available after the call.
B&G Foods (NYSE: BGS) has announced the full redemption of its remaining $265,392,000 5.25% senior notes due 2025. The redemption will occur on October 9, 2024, at a cash price of 100% of the principal amount plus accrued and unpaid interest. The company plans to finance this redemption using revolving loans from its existing credit facility and cash on hand. After the redemption date, interest on the notes will cease to accrue, and noteholders' only remaining right will be to receive the redemption payment. The Bank of New York Mellon Trust Company, N.A., the trustee for the notes, will send redemption notices to registered holders.
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