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Overview of B&G Foods Inc
B&G Foods Inc is an American packaged-food manufacturer that produces, sells, and distributes a diverse portfolio of high-quality, shelf-stable and frozen foods. Operating primarily across the United States, Canada, and Puerto Rico, the company is known for its extensive range of branded products that cater to a wide variety of consumer preferences. Keywords such as packaged foods, shelf-stable foods, and frozen foods highlight its core areas of expertise and market focus.
Business Model and Core Operations
The company manufactures foods under numerous established brands that resonate with generations of consumers. Its operations are structured around a centralized model that facilitates efficient manufacturing, comprehensive quality control, and extensive distribution networks. B&G Foods generates revenue primarily through the direct sale of its branded products, leveraging longstanding relationships with retailers and distributors. This strategic positioning allows the company to maintain a significant market presence in North America.
Product Portfolio and Brand Legacy
B&G Foods is synonymous with a legacy of trusted brands that include a mix of traditional and innovative product lines. The portfolio covers a broad spectrum ranging from frozen and canned vegetables to vegetable oils, cooking sprays, cereals, fruit spreads, and specialty household items. Additionally, the company ventures into niche segments such as innovative seasoning blends and accessories, highlighting its capability to evolve with market trends. Its brands are recognized not only for their quality but also for their ability to adapt to consumer preferences, making them evergreen in a competitive market.
Market Presence and Distribution
Based in Parsippany, New Jersey, B&G Foods has built a robust distribution network that spans every major market in North America. This comprehensive reach is supported by a logistics framework designed for efficient supply chain management, ensuring product availability in supermarkets, grocery chains, and specialty stores. The company’s approach to market penetration emphasizes consistency, quality assurance, and broad geographic coverage, which are fundamental for staying competitive in the packaged foods industry.
Strategic Collaborations and Industry Impact
One of the hallmarks of B&G Foods is its willingness to embark on strategic partnerships that enhance its product offerings and market relevance. Collaborations with historic establishments like the Four Sixes Ranch for seasonings and innovative fashion partnerships such as the B&G® Pickleball Bag with Made by Alex demonstrate the company’s ability to blend heritage with modern consumer trends. These partnerships not only diversify the company’s product portfolio but also reinforce its image as a versatile and culturally resonant brand in the food sector.
Operational Excellence and Quality Assurance
The company places significant importance on operational excellence and rigorous quality control standards. By integrating advanced manufacturing processes with traditional expertise, B&G Foods maintains consistent product quality across its wide array of brands. This commitment to excellence is reflected in its meticulous production standards and its agile response to evolving consumer tastes.
Competitive Landscape and Market Significance
Within the highly competitive packaged-food industry, B&G Foods distinguishes itself through its diversified brand portfolio and its deep-rooted heritage in American food culture. The company competes with other major food manufacturers by offering a unique combination of well-established legacy brands and contemporary product innovations. This dual focus allows B&G Foods to appeal to a broad customer base, from traditional home cooks to modern consumers seeking adventurous culinary experiences.
Conclusion
In summary, B&G Foods Inc is a comprehensive player in the North American food market, known for its high-quality shelf-stable and frozen food products that span multiple renowned brands. Its operational model, strategic partnerships, and unwavering commitment to quality have solidified its position as a key contributor to the packaged-food industry. With a focus on maintaining brand integrity and adapting to consumer trends, B&G Foods continues to provide a broad array of products that cater to diverse tastes and meet rigorous quality standards.
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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