Tue, Feb 25, 9:44 PM (54 days ago)
B&G Foods, Inc. (NYSE: BGS) reported fiscal 2024 net sales of approximately 1,932,454 (in thousands) with results segmented into Specialty, Meals, Frozen & Vegetables, and Spices & Flavor Solutions. The company recorded a net loss of roughly 251,251 (in thousands), or $3.18 loss per share, largely due to non-cash impairments—including goodwill impairments of 70,580 (in thousands) in Frozen & Vegetables and intangible asset impairments of 320,000 (in thousands) affecting key brands. Operating expenses increased marginally as the firm executed strategic divestitures of its Green Giant U.S. shelf-stable product line and the Back to Nature business to sharpen focus and reduce leverage. Key risk factors include commodity price volatility, rising distribution and input costs, foreign exchange fluctuations, and competitive market pressures. The company remains committed to cost-saving initiatives, selective acquisitions, and portfolio realignment to strengthen its market position and improve future cash flow.