revenue
1735–1775 $million
FY 2026
official guidance
B&G FOODS, INC.
Last · NYSE$2.42-0.01 (-0.41%)close · yahoo · 18h ago
Market cap$196.69M81.3M sh
P/E · TTM-2.8fwd 4.7 · eps -0.88 · loss
Beta0.57vs S&P 500
Div yield15.64%annual · TTM
52w range
$2.37$6.38
Volume1.2Msession
| Revenue | $1.8B |
|---|---|
| Operating income | $62.9M |
| Net income | $-36.5M |
| Free cash flow | $47.0M |
| Operating margin | 3.6% |
| Net margin | -2.1% |
| Return on equity | -9.2% |
| Period | TTM 2026-07-04 |
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OpenFilings analyst
Our analyst
Agentic read of the latest earnings call — recommendation updates when we process a new transcript. Research synthesis, not investment advice.
Strong BuyBuyHoldSellStrong Sell
not a buy on this call; the improved headline EBITDA of $60.4 million (+4.2%) was driven largely by portfolio actions, the College Inn/Kitchen Basics acquisition, contract manufacturing, and roughly $4 million of tariff refunds—not underlying volume growth. Base-business sales fell 2.9%, including a 4.3% volume decline, while 11% refinancing costs lift full-year interest guidance to $157.5–$162.5 million; the reaffirmed FY2026 outlook is credible but leaves little evidence yet of a durable turnaround.
Themes
- Portfolio Reshaping
- Base Business Volume
- Debt Refinancing
- College Inn Kitchen Basics
- Contract Manufacturing
- Green Giant Canada
Near term
Second-half execution must overcome elevated domestic freight costs, inflation in vegetable oil and spices, and the loss of approximately $18 million of the prior year's 53rd-week sales in Q4.
The Green Giant Canada divestiture is still awaiting regulatory approval; proceeds will fluctuate with inventory levels, and management provided no firm closing date.
Contract manufacturing is running at roughly $25 million of quarterly revenue and is only modestly profitable; incremental customer wins are not yet material.
College Inn has some consumption softness and requires repricing, while Kitchen Basics will face its first meaningful test during the winter soup season.
SG&A should decline further into early Q3 before reaching a run rate, providing a near-term earnings offset but not a growth engine.
Longer term
The portfolio reshaping is directionally sensible: divesting lower-margin, working-capital-intensive assets and adding higher-margin College Inn and Kitchen Basics. However, the quarter does not yet demonstrate sustained organic growth.
Retail branded performance remains weak, with management acknowledging that non-measured channels are offsetting damage in regular tracked channels; restoring branded retail trends is central to the thesis.
Tones and Weber are losing some branded distribution to partner-brand products, a competitive/private-label pressure that could structurally erode mix and brand economics.
New CEO Robert Mills brings board familiarity and digital, data, AI, and operating experience, but the turnaround plan remains qualitative and its financial impact is unproven.
The 11% senior notes due 2031 materially constrain financial flexibility and make debt reduction and cash generation more important than adjusted EBITDA growth alone.
Red flags
Management would not quantify the tariff-refund contribution to EBITDA and said additional recoveries are possible but not material; this creates some earnings noise without changing the thesis.
The $60.4 million EBITDA result benefited from divestitures, acquired brands, contract manufacturing, and tariff refunds while base-business volume declined sharply.
Analyst questioning exposed weak tracked-channel performance, brand-to-partner-brand migration, College Inn softness, and uncertainty over adding contract-manufacturing customers; management offered no quantified remediation targets.
The company is still absorbing approximately $9.7 million of acquisition, divestiture, restructuring, and other nonrecurring expenses in the quarter, with a $36.3 million year-to-date loss on asset sales.
Guidance explicitly excludes significant changes in inflation, tariffs, and geopolitical conflict, while freight is already pressuring margins and the company needs offsets to remain within its range.
High interest expense leaves limited room for operational misses: quarterly net interest was $38.5 million versus $35.8 million a year ago despite improved adjusted EBITDA.
Forward outlook
ebitda
275–290 $million
FY 2026
official guidance
adjusted eps
0.575–0.675 $per share
FY 2026
official guidance
operating margin
15.8–16.3 pct
FY 2026
official guidance
gross margin
—
FY 2026
official guidance
OpenFilings analyst view from primary-source filings and earnings calls — not investment advice.
From latest 10-K · 2025-02-25
- Net Margin Sharply Negative
Red flags
- Net Margin Sharply Negative — Net margin -13.0%
Upcoming earnings
9:00 PM UTC+1
Period
Sep 2026
Est. EPS
$0.15
Est. revenue
434.9M
Earnings transcripts
Documents
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