Quarterly ResultMay 13, 2026, 04:13 PM
B&G Foods Q1 Net Loss $(32.5M); Green Giant Divestment Loss $(36.2M)
AI Summary
B&G Foods reported a significant net loss of $(32.5) million for the first quarter of 2026, primarily driven by a pre-tax loss of $36.2 million from the divestiture of its Green Giant U.S. frozen business for $61.5 million. Net sales also declined to $408.9 million from $425.4 million year-over-year. During the quarter, the company completed the acquisition of the College Inn and Kitchen Basics brands for $109.7 million.
Key Highlights
- Divested Green Giant U.S. frozen business for $61.5 million, incurring a pre-tax loss of $36.2 million.
- Acquired College Inn and Kitchen Basics brands for approximately $109.7 million in cash.
- Reported a net loss of $(32.5) million for Q1 2026, compared to net income of $0.8 million in Q1 2025.
- Basic loss per share was $(0.41) for Q1 2026, down from earnings per share of $0.01 in Q1 2025.
- Net sales decreased to $408.9 million in Q1 2026 from $425.4 million in Q1 2025.
- Operating loss was $(11.0) million in Q1 2026, compared to operating income of $35.8 million in Q1 2025.
- Net cash provided by operating activities decreased to $23.6 million from $52.7 million year-over-year.
- Cash dividends declared per share remained $0.19 for both Q1 2026 and Q1 2025.