Quarterly ResultMay 12, 2026, 04:12 PM
B&G Foods Cuts Dividend to $0.38/Share; Q1 Net Sales $408.9M, EPS $(0.41)
AI Summary
B&G Foods announced its first quarter 2026 financial results, reporting a net loss of $32.5 million and diluted EPS of $(0.41). Net sales decreased 3.9% to $408.9 million, although base business net sales grew 2.8%. The company also reduced its annual common stock dividend from $0.76 to $0.38 per share, effective July 30, 2026. This quarter included the partial impact of the College Inn and Kitchen Basics acquisition and the Green Giant U.S. frozen divestiture, as the company reshapes its portfolio.
Key Highlights
- Reduced annual common stock dividend from $0.76 to $0.38 per share, payable July 30, 2026.
- Q1 2026 net sales decreased 3.9% to $408.9 million; base business net sales increased 2.8% to $365.1 million.
- Reported Q1 2026 net loss of $32.5 million, or $(0.41) diluted EPS.
- Adjusted net income for Q1 2026 was $6.8 million, or $0.08 adjusted diluted EPS.
- Adjusted EBITDA for Q1 2026 decreased 2.5% to $57.6 million.
- Revised full-year 2026 net sales guidance to $1.735 billion to $1.775 billion.
- Spices & Flavor Solutions segment net sales increased 9.1% to $100.1 million in Q1 2026.
- Frozen & Vegetables segment net sales decreased 23.7% to $71.0 million in Q1 2026.