Q4 2024 B&G Foods Inc Earnings Call Transcript

Feb 25, 2025 / 09:30 PM GMT

Transcript 10-K8-K

Key Points

Positve

B&G Foods Inc (BGS) reported fourth-quarter net sales of $551.6 million and adjusted EBITA of $86.1 million, which were in line or slightly above expectations.
The spices and flavor solutions business unit showed strong performance with a 5% increase in net sales compared to the fourth quarter of the previous year.
Margins improved in the fourth quarter, with an adjusted gross profit percentage of 22.2% compared to 21.9% in the fourth quarter of 2023.
The company is committed to reshaping its portfolio to improve margins and cash flow, aiming for adjusted EBITA as a percentage of net sales to approach 20%.
B&G Foods Inc (BGS) reduced its net debt to $1.994 billion at the end of the fourth quarter of 2024, down from $2.05 billion at the end of the third quarter of 2024.

Negative

B&G Foods Inc (BGS) reported a net loss of $222.4 million for the fourth quarter, primarily due to pre-tax, non-cash impairment charges to intangible assets.
Base business net sales decreased by 3.3% for fiscal year 2024 compared to fiscal year 2023.
The company faces continued uncertainty in the near term on center store trends, with sales and consumption declines in early 2025.
Foreign currency impacts, particularly related to the Mexican peso, negatively affected costs at the Green Giant manufacturing facility in Mexico.
The frozen and vegetables segment experienced a decline in adjusted EBITA due to increased pack costs and the negative impact of foreign currency.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BGS.N - B&G Foods Inc
Q4 2024 B&G Foods Inc Earnings Call
Feb 25, 2025 / 09:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and welcome to BNG Food 4th quarter and fiscal 2024 earnings call.

Today's call, which is being recorded, is scheduled to last about 1 hour, including remarks by PNG Foods Management and the question and answer session.

I would now like to turn the call over to AJ Sho, senior Associates Corporate strategy and Business Development for BNG Foods. Please.

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Unidentified_2 [2]
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Go ahead.

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Unidentified_3 [3]
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