B&G Foods ( (BGS) ) has released its Q1 earnings. Here is a breakdown of the information B&G Foods presented to its investors.
B&G Foods, Inc., based in Parsippany, New Jersey, is a manufacturer and distributor of branded shelf-stable and frozen foods, operating in the United States, Canada, and Puerto Rico with a diverse portfolio of over 50 well-known brands.
In the first quarter of 2025, B&G Foods reported a challenging financial performance with a notable decline in net sales and earnings compared to the previous year, reflecting the tough environment in the packaged foods industry. Despite these challenges, the company has observed stabilizing sales trends in recent months.
Key financial metrics for the quarter include a 10.5% decrease in net sales to $425.4 million and a significant drop in adjusted net income by 76% to $3.4 million. Adjusted EBITDA also fell by 21.2% to $59.1 million. The company attributed these declines to reduced volumes, net pricing, and unfavorable foreign currency impacts across its business segments.
Looking ahead, B&G Foods has revised its full-year 2025 guidance, projecting net sales between $1.86 billion and $1.91 billion, and adjusted EBITDA between $280 million and $290 million. The company remains focused on improving core business sales trends, reshaping its portfolio for growth, and reducing leverage through strategic divestitures and acquisitions.
B&G Foods’ management is committed to accelerating cost reduction efforts and achieving significant savings throughout the remainder of the year, while navigating the ongoing challenges in the market environment.