BGS

B&G Foods reported a 9.7% year-on-year revenue decline in Q2, missing Wall Street’s expectations, while non-GAAP profit came in as expected. Management attributed the weak sales to recent divestitures, particularly the Green Giant US Frozen, Le Sueur, and Don Pepino brands, which impacted reported volumes and base business performance. CFO Bruce Wacha noted, “Our results demonstrate our ability to grow adjusted EBITDA and net cash provided by operating activities, despite a challenging industry backdrop.” Operational improvements, acquisitions, and cost reductions helped support margin expansion, but the company acknowledged continued headwinds in its branded retail business. Is now the time to buy BGS? Find out in our full research report (it’s free). Revenue: $383.3 million vs analyst estimates of $397.3 million (9.7% year-on-year decline, 3.5% miss) Adjusted EPS: $0.06 vs analyst estimates of $0.06 (in line) Adjusted EBITDA: $60.39 million vs analyst estimates of $59.4 million (15.8% margin, 1.7% beat) The company reconfirmed its revenue guidance for the full year of $1.76 billion at the midpoint Management reiterated its full-year Adjusted EPS guidance of $0.63 at the midpoint EBITDA guidance for the full year is $282.5 million at the midpoint, above analyst estimates of $278.3 million Operating Margin: 9%, up from 5.2% in the same quarter last year Sales Volumes were down 4.3% year on year Market Capitalization: $280.4 million While we enjoy listening to the management’s commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Andrew Lazar (Barclays) asked for quantification of the tariff refund’s EBITDA impact. CFO Bruce Wacha did not disclose a specific amount but described it as modest and noted there may be additional refunds in the second half. David Palmer (Evercore) probed the slowdown in non-measured channels and the outlook for brand performance. Wacha explained that while foodservice and private label remain strong, branded retail needs improvement—a focus area for new CEO Robert Mills. Robert Moskow (TD Cowen) questioned the shift of Tones and Weber brands to partner arrangements versus private label. Wacha clarified this is an ongoing process, not a reclassification, and emphasized the company’s intent to improve brand performance. Karru Martinson (Jefferies) inquired about the potential for additional portfolio reshaping. Wacha responded that while major efforts are nearly complete, B&G Foods remains open to further M&A and asset sales. William Reuter (Bank of America) asked about the profitability and growth potential of the new contract manufacturing business. Wacha described it as modestly profitable and incremental to EBITDA, with ambitions to add new customers. Looking ahead, the StockStory team will monitor (1) the successful integration and performance of College Inn and Kitchen Basics, especially during peak holiday seasonality; (2) closure and financial impact of the Green Giant Canada divestiture; and (3) management’s ability to further reduce stranded costs and stabilize branded retail channel performance. The pace of contract manufacturing customer additions and realization of tariff refunds will also be important drivers. B&G Foods currently trades at $3.46, up from $3.41 just before the earnings. At this price, is it a buy or sell? The answer lies in our full research report (it’s free for active Edge members). ONE MORE THING: Top 5 Growth Stocks. The biggest stock winners almost always had one thing in common before they ran. Revenue growing like crazy. Meta. CrowdStrike. Broadcom. Our AI flagged all three. They returned 315%, 314%, and 455%, respectively. Find out which 5 stocks it’s flagging this month — FREE. Get Our Top 5 Growth Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+1,154% between June 2020 and June 2025). Find your next big winner with StockStory today.

Image source: The Motley Fool. Tuesday, Aug. 11, 2026 at 4:30 p.m. ET Executive Vice President of Finance and Chief Financial Officer - Bruce C. Wacha Director, Corporate Strategy and Business Development - AJ Schwabe Operator: Good day, and welcome to the B&G Foods Second Quarter 26 Earnings Call. Today's call, which is being recorded, is scheduled to last about 1 hour, including remarks by B&G Foods management and the question and answer session. I would now like to turn the call over to AJ Schwabe, Director, Corporate Strategy and Business Development for B&G Foods. AJ? AJ Schwabe: Good afternoon, and thank you for joining us. With me today is Bruce C. Wacha, our Chief Financial Officer. You can access detailed financial information on the quarter in the earnings release we issued today which is available at the Investor Relations section of bgfoods.com. Before we begin, our formal remarks, I need to remind everyone that part of the discussion today includes forward looking statements. These statements are not guarantees of future performance and therefore, under reliance should not be placed upon them. We refer you to B and G Foods' most recent annual report on Form 10 k and subsequent SEC filings, for a more detailed discussion of the risks that could impact our company's future operating results and financial condition. B&G Foods undertakes no obligation to publicly update or revise any forward looking statements. Whether as a result of new information, future events, or otherwise. We will also be making references on today's call to the non GAAP financial measures. Adjusted EBITDA, segment adjusted EBITDA, adjusted net income, adjusted diluted earnings per share, adjusted gross profit, adjusted gross profit percentage, base business net sales, and segment adjusted expenses. Reconciliations of these financial measures to the most directly comparable GAAP financial measures are provided in today's earnings release. Bruce will begin the call with opening remarks and discuss various factors that affected our results selected business highlights and its thoughts concerning the outlook for the remainder of fiscal 26 and beyond. Would now like to turn the call over to Bruce. Bruce C. Wacha: Thank you, AJ. Good afternoon, everyone. Thank you for joining us today. I am going to cover a number of topics on our call this afternoon, which will include our change in CEO, and why we are so excited to have Robert Mills join our executive leadership team at B&G Foods. Our portfolio reshaping efforts which consists of the divestitures of low margin working capital intensive business, including Green Giant US Frozen, Le Sueur US shelf stable, and the Don Pepino brand over the past 12 months. The establishment of our Green Giant US frozen contract manufacturing business which we expect to provide a modest but consistent contribution to adjusted EBITDA and cash flows. As well as the acquisition of the higher margin cash generative College Inn and Kitchen Basics brands. Our second quarter results which demonstrate our ability to grow adjusted EBITDA and net cash provided by operating activities, despite a challenging industry backdrop. And update on our fiscal 26 guidance which are-- which we are reaffirming at previous levels across net sales, adjusted EBITDA, and adjusted diluted earnings per share. While it is taking time to implement this portfolio reshaping, and we are still evolving today, we can see the green shoots as our business results continue to improve and we continue to better position ourselves for a more steady and more balanced financial performance in the future. Now before I move on to our performance in the second quarter, I would like to take a moment to comment on our CEO transition the appointment of Robert Mills as our chief executive officer. Having served on our board of directors, for the past 8 years, Robert brings a unique combination of deep knowledge of our company and extensive operating experience. He understands our brands, our customers, our opportunities, and importantly, the challenges that we need to address. This familiarity significantly reduces the traditional transition period for a new CEO and positions Robert to move quickly establish clear priorities, and accelerate the actions necessary to improve execution, strengthen the business, and create sustainable shareholder value. Robert's experience is particularly well aligned with what B&G Foods needs at this point in our evolution. He joins us from Tractor Supply Company, where he has held senior executive leadership roles spanning strategy, digital commerce, technology, and business operations with direct P&L accountability. During his tenure, Robert helped lead large scale transformation and growth initiatives across a complex multibillion dollar public company. While building deep experience in digital, data, AI, productivity, and operating execution. Robert also brings extensive M&A in corporate development experience including evaluating, acquiring, and integrating businesses. This combination gives Robert a broad perspective on organic and inorganic value creation. Disciplined capital allocation, and active portfolio management. Robert comes into this role with a strong sense of urgency, and a clear understanding of B&G Foods. During his first 90 days, he intends to spend considerable time with our employees, customers, business partners, and shareholders. Listening and developing and even deeper understanding of the challenges and opportunities in front of us. His 8 years on our board provide an important head start allowing him to use this period not simply to learn the business, but to quickly establish priorities and began translating these priorities into action. Robert's immediate focus will be on strengthening execution maximizing the potential of our core brands, improving productivity and cash generation, and accelerating the strategies that can return the business to sustainable growth. Robert is excited about the future of B&G Foods and the opportunity to build upon the strength of our brands while bringing new capabilities and greater speed to the organization and so am I. We believe that his experience in digital transformation data, and AI can help us modernize how we operate better understand and serve our customers consumers, and improve decision making and identify new opportunities for growth and productivity. Robert is also looking forward to engaging directly with the analyst and investor community in the months and years ahead. And sharing more about his priorities and vision for B&G Foods. We believe that Robert has the right combination of institutional knowledge operating experience, strategic leadership, M&A expertise, and transformation capabilities to move quickly, make disciplined decisions, and accelerate value creation for our shareholders. We are very excited to have Robert as part of the B&G Foods family. Robert will be joining our third quarter earnings call in November. And now back to the quarter. For the second quarter of 26, we generated $383 million in net sales a net loss of $4 million or $0.05 per diluted share, adjusted net income of $4.9 million or $0.06 per adjusted diluted share. Adjusted EBITDA of $60.4 million and adjusted EBITDA as a percentage of net sales of 15.8%. As we review our second quarter 26 results, we will highlight the impact of our various M&A transactions, which include the divestitures of the Don Pepino, and Le Sueur US brands in the summer of 2 thousand 25 and the divestiture of the Green Giant US frozen business in February 2026. Simultaneous with the Green Giant US frozen divestiture, we commenced the contract manufacturing business pursuant to which we produce Green Giant US frozen products, at our vegetable manufacturing facility in Mexico on behalf of the new owner of the Green Giant US frozen business. In addition, we acquired the College Inn and Kitchen Basics brands in February 2026. Unless otherwise noted, the 3 divestitures are included in our Q2 25 financials but not our Q2 2026 financials, while the new contract manufacturing business and the acquired brands are included in our Q2 2 thousand 26 financials but not our Q2 2025 financials. Because of the divestiture of the Green Giant Canada has not yet closed, there is no impact to our net sales or adjusted EBITDA. However, because Green Giant Canada is classified as an asset held for sale for accounting purposes the pending divestiture does impact how Green Giant Canada assets are carried on our balance sheet. And within certain line items. of our P&L. We expect Green Giant Canada divestiture to close during the third quarter and look forward to providing an update after the divestiture has been completed. Net sales for the quarter of 2026 decreased by $41.1 million or 9.7% to $383 million from $424 million for the second quarter of 2 thousand 25. The decrease was primarily attributable to the Green Giant US frozen Le Sueur US shelf stable. And Don Pepino brand divestitures. Partially offset by incremental net sales from the Green Giant US frozen contract manufacturing business and the acquisition of the College Inn and Kitchen Basics brands. Net sales of divested brands contributed approximately $68 million to Q2 25 net sales. Net sales of acquired brands plus the contract manufacturing business contributed approximately $37 million in net sales during the second quarter of 2 thousand 26. Base business net sales for the second quarter of 26 decreased by $10.2 million, or 2.9%, to $346.3 million as compared to $357 million for the second quarter of 2025. The decrease in base business net sales was driven by a decrease in volume of $15.5 million or 4.3% of base business net sales. Partially offset by an increase in net pricing and product mix of $5.1 million or 1.4% of base business net sales. And the positive impact of foreign currency of $200 thousand or 0.1% of net sales. The timing of the July 4 holiday cost us about 1.5 shipping days in the quarter or approximately $5 million to $7 million of net sales in the second quarter of 2 thousand 26. For the year to date period, base business net sales are on track with our plan and were essentially flat or up $200 thousand to $711 million for the first 2 quarters of 2 thousand 26. From 711 million for the first 2 quarters of 2 thousand 25. Gross profit was $79.6 million for the second quarter of 26 or 20.8% of net sales. And adjusted gross profit was $83.7 million or 21.8% of net sales. Gross profit was $87 million for the second quarter of 2 thousand 25, or 20.5% of net sales. And adjusted gross profit was $89.1 million or 21% of net sales. Gross profit as a percentage of net sales increased due to the acquisition of higher margin College Inn and Kitchen Basics brands, the divestiture of the lower margin Green Giant US frozen business, and certain tariff refunds received from the US government during our second quarter. Selling, general, and administrative expenses decreased by $6.6 million or 14% to $40.6 million for the second quarter of 2 thousand 26 from $47.2 million for the second quarter of 2 thousand 25. The decrease was comprised of a decrease in warehouse expenses of $3.7 million general and administrative expenses of $2.7 million consumer marketing expenses of $1.7 million and selling expenses of $800 thousand. These were partially offset by an increase in acquisition divestiture related and nonrecurring expenses of $2.3 million expressed as a percentage of net sales, selling, general, and administrative expenses, improved by 50 basis points to 10.6% for the second quarter of 2 thousand 26. As compared to 11.1% for the second quarter of 2 thousand 25. We continue to follow these costs closely and we are taking steps to reduce our ongoing SG&A commitments. To better reflect the size of our business going forward. Minimizing the impact of stranded costs on our overhead structure from recent divestitures. We generated $60.4 million of adjusted EBITDA or 15.8% of net sales in the second quarter of 26 compared to $58 million or 13.7% in the second quarter of 2 thousand 25. The increase in adjusted EBITDA was primarily attributable to the acquisition of the College Inn and Kitchen Basics brands, the divestiture of the Green Giant US frozen business, the commencement of the Green Giant US frozen contract manufacturing business, and tariff refunds received from the US government during the second quarter. Net interest increased $2.7 million or 7.5% to $38.5 million for the second quarter of 2 thousand 26. From $35.8 million for the second quarter of 2 thousand 25. The increase in net interest expense was primarily attributable to an increase in average long term debt outstanding during the second quarter of 26 relative to the average long term debt outstanding during the second quarter of 2 thousand 25 and the 11% interest rate on our new senior unsecured notes due 2031. During the second quarter of 2 thousand 26, net interest expense was also negatively impacted in connection with our debt refinancing because the new 11% senior unsecured notes due 2031 were issued on 06/10/2026 prior to the redemption of our 5.25% senior unsecured notes due 2027, and therefore, during a 24 day period, we incurred interest expense on both sets of notes. Which was only partially offset by the interest earned on the net proceeds of the issuance of the 11% senior unsecured notes due 2031. Depreciation and amortization was $14.5 million in the second quarter of 26, compared to $16.7 million in the second quarter of 2025. We had a net loss of $4 million or $0.05 per diluted share for the second quarter of 26 compared to a net loss of $9.8 million or 12¢ per diluted share for the second quarter of 2 thousand 25. The net loss for the second quarter of 2 thousand 26 was primarily attributable to approximately $9.7 million of acquisition divestiture related expenses and nonrecurring expenses including certain organizational restructuring efforts, to reduce the cost overhang related to the divestitures. We had adjusted net income of $4.9 million or 6¢ per diluted adjusted share in the second quarter of 26. In the second quarter of 2 thousand 25, we had adjusted net income of $2.9 million or $0.04 per adjusted diluted share. Adjustments to our EBITDA and net income are further described in our earnings release that was issued today and our 10-Q, which we expect to release later this week. I would now like to touch on the results by business unit for the second quarter. Net sales for Spices and Flavor Solutions increased by $0.1 million or 0.1% in the second quarter of 2 thousand 26 $96.6 million from $96.5 million in the second quarter of 2 thousand 25. Spices and Flavor Solutions segment adjusted EBITDA increased by $7 million or 29% in the second quarter of 26 compared to the second quarter of 2 thousand 25. The increase in segment adjusted EBITDA primarily due to an increase in net pricing, and the impact of product mix. An improved cost environment for spices relative to the prior year, and tariff refunds received from the US government during the second quarter. Net sales for meals increased $6.4 million or 6.2% in the second quarter of 2 thousand 26. To $111 million from $104 million in the second quarter of 25. The acquisition of College Inn and Kitchen Basics brands added approximately $13.2 million of net sales during the quarter. Meals segment adjusted EBITDA increased by approximately $100 thousand primarily driven by the acquisition. Which offset declines in certain brands. Net sales for specialty decreased by $5.9 million or 4.4% in the second quarter of 2026 to $128.9 million dollars from a 135 million in the second quarter of 2 thousand 25. The decrease was due in part to the divestiture of the Don Pepino business which generated $1.8 million of net sales in the second quarter of 2 thousand 25. Specialty segment adjusted EBITDA decreased by $8.9 million in the second quarter of 2 thousand 26 compared to the second quarter of 2 thousand 25. The decrease was due in part to the divestiture of the Don Pepino business certain unfavorable cost comparisons, in raw materials, increased manufacturing expenses, and our investment in critical oil pricing which on the positive side benefited from increased volumes. In the quarter. Financial performance for the frozen and Vegetables during the second quarter of 2 thousand 26 and the second quarter of 2 thousand 25 are not comparable due to the impact of the Le Sueur US and Green Giant US frozen divestitures and the impact of our new contract manufacturing agreement for Green Giant US Frozen. Net sales of Green Giant Canada remained strong and increased by $500 thousand or 2.4% to $23.4 million for the second quarter of 2 thousand 26 compared to $22.9 million for the second quarter of 2 thousand 25. Separately, the new Green Giant US frozen contract manufacturing business generated $23.9 million in net sales during its first full quarter of operation following our sale of the Green Giant US frozen business. Our team is looking to build this business, add new customers, and increase its volumes. Before I discuss 2026 guidance, I would like to remind the audience that we continue to live in unpredictable times. And depending on the day we are at war in The Middle East, Our 2026 guidance reflects only what we know today, and, for example, does not factor in significant changes in inflation, tariff policies, or the potential impact of escalation and conflicts in Eastern Europe, The Middle East, or Latin America could have on our results. Also, please note that our guidance reflects the expected impacts only of acquisitions and divestitures that have already closed. In other words, our guidance reflects the expected impacts of Don Pepino, Le Sueur US, and Green Giant US frozen divestitures, the commencement of the Green Giant US frozen contract manufacturing business, and the College Inn and Kitchen Basics acquisition. But our guidance does not reflect the expected impact from the pending Green Giant Canada divestiture because that divestiture has not yet closed. Also, as a reminder, our guidance reflects that fiscal 2 thousand 26 has 1 fewer week than fiscal 2 thousand 25, which had a 53rd week. The benefit of the 50 third week was included in our fiscal 2025 results. And we will lap that benefit or approximately $18 million in net sales during the fiscal fourth quarter. Of 2026. That said, we are reaffirming our guidance We are maintaining fiscal 26 net sales guidance in the range of $1.735 billion to $1.775 billion adjusted EBITDA guidance in the range of $275 million to $290 million and adjusted EBITDA as a percentage of net sales in the range of approximately 15.8% to 16.3%. And based on this guidance, we still expect adjusted diluted earnings per share to be in a range of $0.575 to $0.675 per share. Additionally, we expect for full year 2026 interest expense of $157.5 million to $162.5 million including cash interest of $150 million to $155 million depreciation expense of $40 million to $45 million, amortization expense of $17 million to $19 million, cash taxes of approximately $5 million or less an effective tax rate of 26 to 27%, and CapEx will likely be at the lower end of our $30 million to $35 million target. As a reminder, we are making strong progress against our long term goals which include improving the base business net sales trends of the core business to the long term objective of 0% to 2% growth. Reshaping the portfolio for future growth stability higher margins, and strong cash flows. Proactively managing our capital structure by using excess cash flow and the net proceeds of divestitures to facilitate debt reduction and ultimately to fund strategic acquisitions. We believe that we have the ability even in a challenging environment for packaged food companies, to maintain a stable base business and enhance our performance through our growth by acquisition strategy. While simultaneously returning a meaningful portion of our excess cash to investors through our long standing commitment to both debt reduction and a healthy dividend policy. We are very excited about the future of B&G Foods we thank you for tuning into our earnings call this afternoon. This concludes our remarks, and now we would like to begin the Q&A portion of our call. Operator? Operator: Thank you. We will now be conducting a question and answer session. If you would like to ask a question, press 1. Your first question comes from Andrew Lazar with Barclays. Please go ahead. Andrew Lazar: Hey, Andrew. How are you? Hey there. Good. Good. To start off, can you maybe quantify how much the tariff refund benefited EBITDA in the quarter and what your expectation would be for that benefit for the full year if there is more to come? Bruce C. Wacha: Yeah. We have not disclosed the number. it is relatively modest. If you go back to kind of 2025 results and as we articulated then, we had about 8 million to $9 million of total incremental tariff exposure That included tariffs where we were the direct importer of record. And where we were not the importer of record. Where we were the importer of record is about a little bit less than half of that, that is largely what we got back. In the second quarter. We expect to get some more back throughout the remainder of the year and in certain cases, we will invest that in the business on a go forward basis. Andrew Lazar: Got it. Alright. And then I think on the last call, there is quite a bit of discussion around potential inflation building even outside of just soybean oil as it relates to Crisco, but other items too, and that might necessitate some incremental pricing moves, you know, despite it being a sort of a challenging environment for everyone. Where do you stand on inflation at this stage for this year? What might that mean for pricing? And have you taken any or plan to? And then know, what sort of elasticity should we be thinking about this time around just given the consumer is under sort of more pressure than perhaps in the last couple of rounds of pricing the industry took? Thanks so much. Bruce C. Wacha: Yeah. I think on our last call, we were right around the time where both diesel fuel oil, kind of West Texas Brent, and soybean oil were all at their peak levels. So they are a little bit inside of where they were before with a couple moves. Up and down. that is still the largest area where we have seen inflation so far this year. there is a little bit coming in spices as well. But that is primarily where we have seen it. We have not seen people taking pricing on fuel costs. But we certainly have seen that within vegetable oil. Got it. Thank you. And our expectation is that is to cover that inflation where we can. Right. and kind of the way that you have done it on Crisco in the past, wherever it is, you know, 1 or 2 years with that new process. Okay. Thank you. Operator: Next question, David Palmer with Evercore. Please go ahead. David Palmer: Thanks. I wanted to ask you about non measured channels. I think last quarter that might have been up low double digits or at least some sort of double digits. And now it feels like it might maybe up low single digits. Wondering how you are what reason there is for that and how you are thinking about non measured going into second half? Bruce C. Wacha: Yes. We are still seeing pretty strong growth across some of our non measured channels. Canada has been strong, continues to be strong. The foodservice where we have it, is continue to be pretty strong. And then with within spices, our, private brands relationship continues to be strong. As well as some of the other ones. We still see that strength. You know, it is it is up. it is offsetting some of the damage in the regular track channels. But quite frankly, we need to improve the performance of our retail branded business. And I think that is a lot of the focus that Robert is gonna bring on a go forward basis. Okay. David Palmer: And just with regard to what we are seeing when we look at some of the scanner data, looks like spices is under pressure, but you are having some areas of strength elsewhere, cream of wheat, You know, could you maybe make a comment about you know, the wins and losses and where you see the most opportunity near and medium term with the brand business? And I will pass it on. Bruce C. Wacha: Yeah. We are actually seeing pretty good trends in our hot breakfast overall, which would be cream of wheat, McCann's, and the pure maple syrup. Grandma's molasses. So there is pockets of strength in there. On the spices, where there is a little bit of noise is some shift, in some of the brands particularly around Tones and Weber. That are going from branded to partner brands. So there that creates a little bit of the distortion that you are seeing. Look, we need to improve our performance across the board. We have had really good performance in some of the non tracked channels. We need to see further improvement in the tracked channels as well. Thank you. Operator: Next question, Robert Moskow with TD Cowen. Please go ahead. Robert Moskow: Thanks. Maybe I will just go right to that last point. Tones and Weber are going from brands to partner brands. Is that new, Bruce? And can you give a little more context as to what the rationale for that is? Bruce C. Wacha: Yeah. it is it is a continuation of what we have seen over time. We saw this very much early on when we bought the ACH business in, like, 2016. 2017, and then we are just seeing sort of the follow through there. So in a couple in a couple spots, we are we are losing tones distribution, and it is being replaced with us providing distribution of similar product, similar amount of SKUs on the private band side. Robert Moskow: Okay. But you are not read recharacterizing those 2 brands as like, private label or work or giving it to a retailer or anything like that. Bruce C. Wacha: Okay. No. We are we are keeping those brands, and look. We wanna improve the performance in those brands. Robert Moskow: Okay. Got it. And can you touch on College Inn and Kitchen Basics? The sales were lighter than what we had forecasted. Maybe we got the seasonality wrong. But can you can you talk to your early learnings on those 2? Bruce C. Wacha: Yeah. Hale for both, I think, are just a little bit ahead of where we had forecasted but maybe we are a little bit more conservative than you were. Think within consumption, there is a little bit of softness in College Inn, which we knew when we bought this. You know, it is a No. 2, Northeast regional brand. We have to price it right. I think under the last 1 or 2 years of prior ownership, particularly leading up to the bankruptcy, and post bankruptcy We think it was mispriced in the market. And so we are fixing that. We are looking forward to a strong holiday season. We kinda knew what we were getting here, which is something we got to really protect. And drive cash flows with. But manage that brand as it is, which is a No. 2 Northeast regional player where it is been around for a long time and makes good money. Where we sell it. Kitchen basics, I think we continue to be surprised by this business. We really like it. We think it is got some growth opportunity. Addition to having some pretty good margins. The category has been pretty good. To be fair, it is off season, but people are still buying a lot of broths. And stocks in the summer. But it is off season, and so it is a little bit smaller. The true test for us really will be as we integrate during the winter months, the more traditional soup season in the third and fourth and first quarter. Robert Moskow: Okay. Thank you. Bruce C. Wacha: Yep. Operator: Next question, Karru Martinson with Jefferies. Please proceed. Karru Martinson: I could not help but notice that couple of comments here on implementing portfolio reshaping active portfolio management. You have done a lot of the heavy lifting here. Is there more to do? Or are there pockets when you look at your portfolio that you want to accelerate on? Bruce C. Wacha: I think, Karru, there is always more to do with B and G. We tend to be pretty active in M&A, and we are focused on improving our portfolio. I think a big focus for the last year and a half has been the Green Giant strategic review, and, so we are nearing the end of that. And so that is a that is a big lift there. There are still things that we will look at, opportunistically across the portfolio from the divestiture standpoint, but I would not put a big expectation there. College Inn and Kitchen Basics we want and, you know, we expect to do more things like that in the future where we are adding some nice incremental growth in sales and profitability to our business. Karru Martinson: And I am sorry. I missed it. Did you give a tariff refund number? Bruce C. Wacha: We did not. Okay. it is not a huge it is not a huge number. Karru Martinson: Okay. Thank you very much. Appreciate it. Bruce C. Wacha: Yep. Operator: Next question, Hale Holden with Barclays. Please go ahead. Hale Holden: Hey, Bruce. On the tariff refunds, I think, as you outlined, is all in the spices line, Was that part of your original guidance or is that something that is sort of a put and take as you came across it in the middle of the year? Bruce C. Wacha: it is we always knew that it was out there. it is probably a put and take as it factors in and, you know, we have got a little bit of both here. As we always do. Yep. Hale Holden: And when you think about, you know, risk to the next 2 quarters that get you to the low end or the high end of that guidance range? Maybe you could talk through some of the puts and takes that you are seeing on the ground. Bruce C. Wacha: Yeah. I think if you if you look at the guidance that we laid out, and it is a little bit more moving pieces because of the M&A transactions, To be within the to be within our range it is kind of a, you know, flat to down 2% in net sales kind of base business and then plus or minus the rest of the M&A. And so we are not looking for anything heroic. We feel comfortable where we are. We do know that we lost the 53rd week last year, and you will hear me cry about it when we give our fourth quarter results this year. But we feel like we are on pace given where we are year to date. Hale Holden: Great. And then just last question is, anything changed in Canada or just waiting on the regulatory process there? For the sale? Bruce C. Wacha: Just waiting on the regulatory process. We are chomping at the bit to get it completed just like I am sure you guys are ready to hear about it, but it takes time. Hale Holden: I am sure you are. Thank you, Bruce. I appreciate it. Bruce C. Wacha: Yep. Operator: Next question, Carla Casella with JPMorgan. Carla Casella: Just 1 follow-up for Hale. You mentioned Canada. The 1.74 billion to $1.775 billion revenue, that includes the Canada business because it has not been sold. Right? Bruce C. Wacha: Yeah. We are gonna include Canada in our numbers until we sell it. Until it is the transaction is done. Carla Casella: And the proceeds, originally, we were using a placeholder of 6 million but I think that is when the assets held for sale were closer to that amount. With the proceeds being now closer to the 32 million assets held for sale? Bruce C. Wacha: Yeah. And proceeds are gonna move around as inventory moves. And so the 1 thing to keep in mind is we announced this transaction I think, back in the third quarter, around where we are near peak inventory levels. Second quarter, we are at near-trough inventory levels. We are coming into the pack season. Right now, and so inventory will be higher, and therefore, value that we receive in the transaction will be higher. So it is kind of yes to both of your numbers. Carla Casella: Ultimately, it will it will probably be closer to the September of last year number. Bruce C. Wacha: But we will see. Right. Carla Casella: And it is just gonna match whatever's on the assets held for sale, though there is no incremental amount? Bruce C. Wacha: there is moving pieces within that, and there is a small true up on top of it. Okay. And then just with the asset sale versus the acquisitions, as you look at the overhead costs, are you sitting on stranded cost, or is there a need to add in additional overhead to with College Inn? Carla Casella: I am just trying to get a sense for, like, a good run rate for SG and A. It came down nicely this quarter, a lot lower than we expected. And I am just trying to get a sense for whether you need to add cost back in, or is there still more room to cut costs? Bruce C. Wacha: I think you will continue to see costs reduce into early third quarter. And then we should be at largely at a run rate from there. Okay. Carla Casella: And then can you just talk to the M&A environment? Like, are you are there assets out there, things that you would look at, or could you consider further assets sales to accelerate balance sheet improvement? Bruce C. Wacha: We are always looking at both. There are deals that are being announced. There are deals that have been speculated on for some period of time that are kind of sideways and have not been announced. You know, we have seen some large deals get signed and completed in our general kind of space. You know, there is stuff out there I think it is a matter of finding things at the right price whether we are buying or selling and you know, I do not know what the next thing is, but at some point, there will be another 1. We continue to look for ways to improve our portfolio over time. Carla Casella: Okay. Great. Thanks. Bruce C. Wacha: Thanks, Carla. Operator: Once again, please press 1 if you would like to ask a question. Next question comes from William Reuter with Bank of America. Please proceed. William Reuter: Good afternoon. Just to make sure I understand where we are on the tariffs, I think you said it was $8 million or $9 million. You were the importer of record for less than half of that. Think you got most of that back in the second quarter. Will you be receiving proceeds where you were not the importer of record will those, vendors be, like, I guess, sending those proceeds that they received to you? Bruce C. Wacha: Where appropriate, we are gonna do our best to recover every dollar. Okay. Alright. William Reuter: And so I guess that could be a little bit of a tailwind to your results in the second half of the year. Is that right? Bruce C. Wacha: It could. Okay. But, again, just keep in mind, like, the relative size of this is not massive. William Reuter: Yep. Understood. Bruce C. Wacha: And, you know, we are hearing that you know, you have mentioned that you were not pushing through fuel surcharges, and you were not hearing of others doing the same. Freight excluding fuel, domestic freight charges are pretty elevated. Is that putting pressure on your margins in the back half of the year? I mean, it is defined pressure. it is not helping margins in the back half of the year. But it is not, you know, for us, fuel is just 1 part of our logistics cost. We need every penny. So, yeah, it is putting a little bit of pressure. And, you know, as we said, we have got a lot of puts and takes and so, you know, we got to find something to offset it. Got it. William Reuter: And then just lastly for me Certainly, the fuel impact is not radically different than where it was the last time we spoke. In fact, it is probably better or less scary or less bad. Bruce C. Wacha: Right. Okay. William Reuter: And then, I cannot remember the actual number you said. It was something in the twenties the revenue from the contract manufacturing. Where are you at in terms of is that business profitable at this scale, or do you need to add business in order for that to generate, EBITDA? Bruce C. Wacha: it is about-- it is running at about $25 million give or take, maybe just a hair under that per quarter. And so annualized, that might be just under a $100 million. That will not be the 2026 number. Because we really only started running that in the second quarter. The business is modestly profitable. Not game changer, but modestly profitable, and it is a benefit to EBITDA. We want that to be a sustainable business. Would love to grow it. And we wanna continue to service our largest customers well as possible. William Reuter: Got it. I guess, this will be the last 1. I promise. How challenging do you think it is going to be to add incremental customers and volume to that facility? Bruce C. Wacha: I mean, it is it is selling. It takes effort, but we actually think we have got a really good facility. And we have got a couple nice little wins already on it, but you know, not game changer, but nice little business. That we have and we wanna continue to run. Got it. Alright. William Reuter: Thanks for taking all my questions. Bruce C. Wacha: Yep. Thanks. Operator: There are no further questions. This concludes today's teleconference. You may disconnect your lines at this time, and we thank you for your participation. Thank you. Before you buy stock in B&G Foods, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and B&G Foods wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $409,970!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,381,040!* That performance is why people listen. With a track record of beating the S&P 500 by nearly 5x, Stock Advisor offers a distinct advantage. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built for the long haul. See the 10 stocks » *Stock Advisor returns as of August 18, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. B&G Foods (BGS) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

This article first appeared on GuruFocus. Net Sales: $383.3 million in Q2 2026, a decrease of 9.7% from $424.4 million in Q2 2025. Base Business Net Sales: Decreased 2.9% to $346.3 million, driven by a 4.3% decline in volume, partially offset by a 1.4% increase in net pricing and product mix. Gross Profit: $79.6 million (20.8% of net sales) in Q2 2026, compared to $87 million (20.5% of net sales) in Q2 2025. Adjusted Gross Profit: $83.7 million (21.8% of net sales) in Q2 2026, compared to $89.1 million (21% of net sales) in Q2 2025. SG&A Expenses: Decreased 14% to $40.6 million in Q2 2026 from $47.2 million in Q2 2025. Adjusted EBITDA: $60.4 million (15.8% of net sales) in Q2 2026, up from $58 million (13.7% of net sales) in Q2 2025. Net Loss: $4 million, or $0.05 per diluted share, in Q2 2026, compared to a net loss of $9.8 million, or $0.12 per diluted share, in Q2 2025. Adjusted Net Income: $4.9 million, or $0.06 per adjusted diluted share, in Q2 2026, compared to $2.9 million, or $0.04 per adjusted diluted share, in Q2 2025. Spices and Flavor Solutions Net Sales: Increased 0.1% to $96.6 million in Q2 2026. Spices and Flavor Solutions Segment Adjusted EBITDA: Increased 29% in Q2 2026. Meals Net Sales: Increased 6.2% to $110.5 million in Q2 2026, with the Collagen and Kitchen Basics acquisition adding approximately $13.2 million. Specialty Net Sales: Decreased 4.4% to $128.9 million in Q2 2026. Specialty Segment Adjusted EBITDA: Decreased by $8.9 million in Q2 2026. Green Giant Canada Net Sales: Increased 2.4% to $23.4 million in Q2 2026. Green Giant US Frozen Contract Manufacturing Net Sales: $23.9 million in its first full quarter of operation. Fiscal 2026 Net Sales Guidance: Reaffirmed in the range of $1.735 billion to $1.775 billion. Fiscal 2026 Adjusted EBITDA Guidance: Reaffirmed in the range of $275 million to $290 million. Fiscal 2026 Adjusted Diluted EPS Guidance: Reaffirmed in the range of $0.575 to $0.675 per share. Warning! GuruFocus has detected 6 Warning Signs with BGS. Is BGS fairly valued? Test your thesis with our free DCF calculator. Release Date: August 11, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Adjusted EBITDA increased to $60.4 million in Q2 2026 from $58 million in Q2 2025, with adjusted EBITDA margin improving to 15.8% from 13.7%. Portfolio reshaping is progressing well, with divestitures of low-margin businesses and acquisitions of higher-margin brands like Collagen and Kitchen Basics contributing positively to margins. The new Green Giant US Frozen contract manufacturing business generated $23.9 million in net sales in its first full quarter, providing a modest but consistent EBITDA contribution. SG&A expenses decreased by 14% year-over-year, reflecting ongoing cost reduction efforts and improved efficiency. Base business net sales for the first half of 2026 were essentially flat, in line with the company's plan, despite a challenging industry backdrop. The company reaffirmed its fiscal 2026 guidance, indicating confidence in its ability to meet targets. The appointment of Rob Mills as CEO brings extensive operating experience and a focus on digital transformation, which could drive future growth and productivity. Net sales decreased 9.7% year-over-year to $383.3 million, primarily due to divestitures, with base business net sales down 2.9% in the quarter. The company incurred a net loss of $4 million in Q2 2026, driven by $9.7 million in acquisition and divestiture-related expenses. Specialty segment adjusted EBITDA decreased by $8.9 million due to unfavorable raw material costs, increased manufacturing expenses, and investment in Crisco oil pricing. Net interest expense increased 7.5% to $38.5 million due to higher debt levels and the 11% interest rate on new senior notes, with a 24-day period of double interest expense during refinancing. The pending divestiture of Green Giant Canada is still awaiting regulatory approval, creating uncertainty and delaying the completion of the portfolio reshaping. The company faces ongoing inflationary pressures, particularly in vegetable oil and freight costs, which could impact margins in the second half of the year. The timing of the Fourth of July holiday negatively impacted net sales by approximately $5 million to $7 million in the quarter. Q: Can you quantify how much the tariff refund benefited EBITDA in the quarter and what your expectation would be for that benefit for the full year?A: Bruce Wacha, CFO: We haven't disclosed the number, but it's relatively modest. We had about $8 million to $9 million of total incremental tariff exposure, of which we were the importer of record for a little less than half. That portion is largely what we got back in the second quarter. We expect to get some more back throughout the remainder of the year, and in certain cases, we'll invest that back into the business. Q: On the last call, there was discussion around potential inflation building outside of soybean oil for Crisco. Where do you stand on inflation now, and what might that mean for pricing and elasticity?A: Bruce Wacha, CFO: Fuel and vegetable oil are still the largest areas of inflation we've seen so far this year, though they are a bit inside of their peak levels from the last call. There is a little bit coming in spices as well. We haven't seen people taking pricing on fuel costs, but we have seen it within vegetable oil. Our expectation is to cover that inflation where we can. Q: Non-measured channels were up double digits last quarter but seem to be slowing. What is driving that, and how are you thinking about it for the second half?A: Bruce Wacha, CFO: We're still seeing pretty strong growth across our non-measured channels, including Canada, foodservice, and our private brands relationship within spices. This strength is offsetting some of the damage in the regular tracked channels. However, we need to improve the performance of our retail branded business, which is a key focus for our new CEO, Rob Mills. Q: Scanner data shows spices under pressure, but strength in areas like Cream of Wheat. Can you comment on the wins and losses and where you see the most opportunity?A: Bruce Wacha, CFO: We're seeing pretty good trends in our hot breakfast portfolio, including Cream of Wheat, McCann's, and maple syrup. In spices, there is some noise from a shift in brands like Tone's and Weber from branded to partner brands, which creates distortion. We need to improve our performance across the board, having had good results in non-tracked channels but needing further improvement in tracked channels. Q: Are Tone's and Weber shifting from brands to partner brands new? What is the rationale?A: Bruce Wacha, CFO: It's a continuation of what we've seen over time, similar to what happened after we bought the ACH business in 2016-2017. In a couple of spots, we're losing Tone's distribution, but it's being replaced with us providing distribution of similar products and SKU counts on the private brand side. We are keeping those brands and want to improve their performance. Q: Collagen and Kitchen Basics sales were lighter than forecasted. Can you talk about early learnings on those acquisitions?A: Bruce Wacha, CFO: Sales for both are actually a little ahead of our forecast, though we may have been more conservative than you. There is some softness in collagen consumption, which we knew when we bought it. It's a #2 Northeast regional brand that was mispriced under prior ownership, and we are fixing that. Kitchen Basics continues to surprise us positively; we really like it and see growth opportunity with good margins. The true test will be integrating during the winter soup season. Q: You've done a lot of heavy lifting on portfolio reshaping. Is there more to do, or are there pockets you want to accelerate?A: Bruce Wacha, CFO: There's always more to do at B&G. A big focus for the last 1.5 years has been the Green Giant strategic review, and we're nearing the end of that. We'll still look at things opportunistically from a divestiture standpoint, but I wouldn't put a big expectation there. We want and expect to do more acquisitions like Collagen and Kitchen Basics, which add nice incremental growth in sales and profitability. Q: On the tariff refunds in the spices line, was that part of your original guidance or a mid-year put and take?A: Bruce Wacha, CFO: We always knew it was out there. It's probably a put and take as it factors in, and we've got a little bit of both here. We always do. Q: What are the risks to the next two quarters that get you to the low or high end of the guidance range?A: Bruce Wacha, CFO: Within our guidance range, we're looking at flat to down 2% in base business net sales, plus or minus the M&A transactions. We're not looking for anything heroic and feel comfortable where we are. We're lapping the 53rd week from last year, but we feel we're on pace given where we are year-to-date. Q: Has anything changed with the Green Giant Canada divestiture, or are we just waiting on the regulatory process?A: Bruce Wacha, CFO: We're just waiting on the regulatory process. We're chomping at the bit to get it completed, but it takes time. We expect it to close during the third quarter. Q: Does the revenue guidance include the Canada business since it hasn't sold yet? And what will the proceeds be?A: Bruce Wacha, CFO: Yes, we'll include Canada in our numbers until the transaction is done. Proceeds will move around as inventory moves. We announced the transaction near peak inventory levels in the third quarter, but in Q2 we're near trough levels. As we enter pack season, inventory will be higher, so the value we receive will be higher, likely closer to the September of last year number. Q: With the asset sales and acquisitions, are you sitting on stranded costs or do you need to add overhead for Collagen? What's a good run rate for SG&A?A: Bruce Wacha, CFO: You'll continue to see costs reduced into early third quarter, and then we should be largely at a run rate from there. Q: Can you talk about the M&A environment? Are there assets you'd look at, or could you consider further asset sales For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in B&G Foods, Inc.? Here are five stocks we like better. Adjusted profitability improved despite lower sales: Second-quarter net sales fell 9.7% to $383.3 million, largely because of divestitures and holiday timing, while adjusted EBITDA rose to $60.4 million from $58 million and adjusted EPS increased to $0.06. Portfolio reshaping drove mixed segment results: College Inn and Kitchen Basics acquisitions, the Green Giant U.S. Frozen sale, and tariff refunds lifted margins and Spices & Flavor Solutions performance, but Specialty segment EBITDA declined by $8.9 million. The new Green Giant contract-manufacturing operation generated $23.9 million in sales and was modestly profitable. Full-year guidance was reaffirmed: B&G Foods maintained its fiscal 2026 forecasts of $1.735 billion–$1.775 billion in sales, $275 million–$290 million in adjusted EBITDA, and $0.575–$0.675 in adjusted EPS. The pending Green Giant Canada sale remains subject to regulatory approval and is expected to close in the third quarter. High-yield, low-beta value plays for buy-and-hold investors B&G Foods (NYSE:BGS) reported second-quarter 2026 results that reflected its ongoing portfolio reshaping, with higher adjusted EBITDA despite lower reported sales following several divestitures. The company posted net sales of $383.3 million, down 9.7% from $424.4 million a year earlier. B&G Foods recorded a net loss of $4 million, or $0.05 per diluted share, compared with a net loss of $9.8 million, or $0.12 per diluted share, in the prior-year period. Adjusted net income was $4.9 million, or $0.06 per adjusted diluted share, up from $2.9 million, or $0.04 per share, a year ago. → SoundHound AI Sends a Loud Signal After Its Q2 Earnings Beat B&G Foods' Brand Portfolio May Surprise You Adjusted EBITDA increased to $60.4 million, or 15.8% of net sales, from $58 million, or 13.7% of sales, in the second quarter of 2025. Chief Financial Officer Bruce Wacha said the improvement reflected the acquisition of College Inn and Kitchen Basics, the sale of the lower-margin Green Giant U.S. Frozen business, the start of a Green Giant frozen contract-manufacturing operation and tariff refunds received during the quarter. Reported sales comparisons were affected by the divestitures of the Don Pepino brand and Le Sueur U.S. Shelf Stable business in 2025, as well as the sale of Green Giant U.S. Frozen in March 2026. Divested brands contributed about $68 million of second-quarter 2025 sales, while acquired brands and the new contract-manufacturing business contributed approximately $37 million in the latest quarter. → 3 Dividend Champion Utilities for a Market That Can't Sit Still Base-business net sales, which exclude the effects of acquisitions, divestitures and the contract-manufacturing business, decreased 2.9% to $346.3 million. The decline included a 4.3% volume reduction, partly offset by a 1.4% increase from pricing and product mix. Wacha said the timing of the July 4 holiday reduced shipping by roughly one-and-a-half days, representing an estimated $5 million to $7 million of second-quarter sales. For the first half, base-business sales were essentially flat at $711.4 million, compared with $711.2 million a year earlier. Gross profit margin improved, with adjusted gross profit reaching 21.8% of sales from 21% in the prior-year quarter. Wacha attributed the gain to the higher-margin College Inn and Kitchen Basics brands, the exit from Green Giant U.S. Frozen and tariff refunds. Selling, general and administrative expenses fell 14% to $40.6 million, though the company said it continues to address stranded overhead costs associated with recent divestitures. Spices & Flavor Solutions: Sales were essentially flat at $96.6 million, while segment adjusted EBITDA rose 29%, or $7 million. The increase was driven by pricing and mix, a better spice cost environment and tariff refunds. Meals: Sales increased 6.2% to $110.5 million, including approximately $13.2 million from College Inn and Kitchen Basics. Segment adjusted EBITDA increased by about $0.1 million as acquisition benefits offset declines in certain brands. Specialty: Sales declined 4.4% to $128.9 million, partly due to the Don Pepino divestiture. Segment adjusted EBITDA declined $8.9 million, reflecting the sale, unfavorable raw-material cost comparisons, higher manufacturing expenses and investment in Crisco oil pricing. → Is Wingstop's Growth Story Losing Steam? Green Giant Canada sales increased 2.4% to $23.4 million. The company’s new Green Giant U.S. Frozen contract-manufacturing business generated $23.9 million of sales in its first full quarter. Wacha said the operation is “modestly profitable” and that B&G Foods is pursuing additional customers and volume, though he characterized it as not being a “game changer.” During the analyst question-and-answer session, Wacha said the company continues to see strength in non-measured channels, including Canada, foodservice and private-brand relationships within Spices & Flavor Solutions. However, he said B&G Foods needs to improve performance in retail branded businesses. He also cited favorable trends in hot breakfast products, including Cream of Wheat, McCann’s, Pure Maple Syrup and Grandma’s Molasses. Wacha also discussed the appointment of Rob Mills as chief executive officer. Mills, who has served on B&G Foods’ board for eight years, joins from Tractor Supply Company, where he held senior leadership positions across strategy, digital commerce, technology and operations. According to Wacha, Mills plans during his first 90 days to meet with employees, customers, business partners and shareholders while setting priorities. His immediate focus will include execution, core-brand performance, productivity, cash generation and sustainable growth. Mills is expected to join the company’s third-quarter earnings call in November. B&G Foods reaffirmed its fiscal 2026 outlook, calling for net sales of $1.735 billion to $1.775 billion, adjusted EBITDA of $275 million to $290 million and adjusted diluted earnings per share of $0.575 to $0.675. The outlook includes closed transactions, including the Green Giant U.S. Frozen divestiture, the related contract-manufacturing business and the College Inn and Kitchen Basics acquisition. It does not include the pending sale of Green Giant Canada, which Wacha said is awaiting regulatory approval and is expected to close in the third quarter. The company will include the Canadian business in its results until the transaction closes. Management also noted that fiscal 2026 has one fewer week than fiscal 2025, which included a 53rd week that contributed about $18 million in net sales. B&G Foods expects full-year interest expense of $157.5 million to $162.5 million and capital expenditures toward the lower end of its $30 million to $35 million target. B&G Foods, Inc is a packaged foods holding company that develops, markets and distributes a diversified portfolio of branded shelf-stable and frozen food products. Headquartered in Parsippany, New Jersey, the company serves retail and foodservice customers across the United States and Canada. Through its network of manufacturing facilities, third-party co-packers and distribution partners, B&G Foods supplies grocery chains, mass merchandisers, club stores and e-commerce platforms. The company's product portfolio spans multiple categories, including vegetables, beans, soups, sauces and condiments, snacks, cereals and refrigerated or frozen offerings. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "B&G Foods Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management is executing a multi-phase portfolio reshaping to exit low-margin, working capital-intensive businesses like Green Giant U.S. Frozen and Le Sueur U.S. shelf-stable. The appointment of Robert Mills as CEO, an 8-year board veteran, is intended to accelerate digital transformation and operational execution while reducing traditional leadership transition risks. Performance in the Spices and Flavor Solutions segment was bolstered by a favorable cost environment and the receipt of U.S. government tariff refunds, offsetting volume pressures. The company transitioned its Mexico vegetable facility into a contract manufacturing hub to provide consistent, albeit modest, EBITDA contribution following the sale of the frozen business. Base business net sales were impacted by a shift in the July 4th holiday timing, which resulted in approximately 1.5 fewer shipping days during the second quarter. Management is actively addressing 'stranded costs' by restructuring the organizational overhead to match the smaller, more focused post-divestiture business scale. Fiscal 2026 guidance is reaffirmed but carries a headwind from lapping a 53rd week in the prior year, representing an $18 million net sales impact in Q4. The pending divestiture of Green Giant Canada is expected to close in Q3 2026, with proceeds fluctuating based on peak versus trough inventory levels at the time of closing. Management assumes a 'flat to down 2%' base business net sales trend for the remainder of the year to remain within the reaffirmed guidance range. Strategic focus for the new CEO's first 90 days centers on maximizing core brand potential and identifying productivity gains through data and AI capabilities. Future capital allocation will prioritize using excess cash flow and divestiture proceeds for debt reduction before returning to strategic, high-margin acquisitions. Net interest expense was temporarily inflated by a 24-day overlap where the company carried both new 11% senior notes and legacy 5.25% notes during refinancing. The company received approximately $4 million in tariff refunds during Q2, representing the portion where B&G was the direct importer of record. A net loss of $4 million was primarily driven by $9.7 million in one-time acquisition, divestiture, and organizational restructuring expenses. Management flagged macroeconomic risks including potential escalation in Middle East and Eastern Europe conflicts which are not factored into current guidance. Management confirmed the Q2 benefit was 'modest' and related to the portion of the $8 million to $9 million total exposure where they were the importer of record. They intend to pursue further recoveries from vendors where they were not the importer, which could provide a minor tailwind in the second half of the year. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Soybean oil and spices remain the primary areas of inflation, though costs have moderated slightly from recent peaks. Management intends to take pricing actions where necessary to cover inflation, specifically citing the historical model used for the Crisco brand. College Inn is being repositioned after being 'mispriced' by prior ownership; management is focusing on the upcoming holiday soup season to test its recovery. Kitchen Basics has exceeded internal expectations with strong margins, despite the current off-season for broth and stock products. Management noted a trend where some Tones and Weber branded distribution is being replaced by private label/partner brand distribution provided by B&G. This shift creates 'noise' in tracked scanner data but allows the company to maintain its manufacturing relationship with key retailers. The business is currently running at an annualized rate of just under $100 million and is 'modestly profitable' at its current scale. Management is actively seeking new customers to increase facility utilization beyond the current Green Giant service agreement.

B&G Foods, Inc. BGS continued to reshape its portfolio in the second quarter of fiscal 2026, with recent divestitures and acquisitions materially changing its sales mix. While revenues declined, improved margins, lower selling, general and administrative expenses and contributions from higher-margin businesses supported profitability.Adjusted earnings were 6 cents per share, up 50% from the year-ago quarter figure. Net sales fell 9.7% year over year to $383.3 million. Adjusted EBITDA increased 4.2% to $60.4 million, while adjusted EBITDA margin expanded to 15.8% from 13.7%. B&G Foods, Inc. price-consensus-eps-surprise-chart | B&G Foods, Inc. Quote BGS’ second-quarter sales comparison reflected the Green Giant U.S. frozen, Le Sueur U.S. and Don Pepino divestitures. These businesses contributed about $68 million to net sales in the prior-year quarter and were not part of second-quarter fiscal 2026 results.Partially offsetting this impact were $23.9 million in sales from the Green Giant U.S. frozen co-manufacturing agreement and $13.2 million from the acquired College Inn and Kitchen Basics brands. Management stated the portfolio reshaping is aimed at improving growth stability, margins and cash generation.B&G Foods’ base business net sales declined 2.9% year over year to $346.3 million from $356.5 million. Volume reduced sales by 4.3%, while net pricing and product mix provided a 1.4% benefit. Foreign currency added nearly 0.1%. Management noted that the timing of the Fourth of July holiday reduced the quarter by about 1.5 shipping days, affecting net sales by roughly $5 million to $7 million. Adjusted gross profit was $83.7 million in the second quarter compared with $89.1 million a year ago. However, adjusted gross margin expanded to 21.8% from 21.0%, aided by the higher-margin College Inn and Kitchen Basics acquisition, the divestiture of the lower-margin Green Giant U.S. frozen business and tariff refunds.Selling, general and administrative expenses decreased 14% to $40.6 million from $47.2 million. Lower warehousing, general and administrative, consumer marketing and selling expenses more than offset higher acquisition, divestiture-related and non-recurring expenses. SG&A represented 10.6% of sales compared with 11.1% a year ago. Specialty segment net sales declined 4.4% to $128.9 million, while adjusted EBITDA fell 27.3% to $23.7 million. Results were pressured by lower volumes, higher Crisco oil input costs and the Don Pepino divestiture.Meals sales increased 6.2% to $110.5 million, helped by College Inn and Kitchen Basics, pricing and mix. Adjusted EBITDA edged up 0.3% to $25.8 million. Frozen & Vegetables sales fell 47% to $47.2 million because of divestitures, while its adjusted EBITDA loss narrowed to $1.2 million from $2.7 million.Spices & Flavor Solutions sales increased 0.1% to $96.6 million. Adjusted EBITDA climbed 29% to $31.1 million, supported by pricing, tariff refunds and lower spice input costs. Growth in foodservice and private-label channels helped offset weakness in retail. B&G Foods ended the quarter with cash and cash equivalents of $591.6 million, long-term debt (net of current portion) of $2,008.5 million and total stockholders’ equity of $395.1 million. For the first two quarters of 2026, BGS’ net cash from operating activities amounted to about $58 million. This Zacks Rank #3 (Hold) company reaffirmed its fiscal 2026 net sales guidance of $1,735 million to $1,775 million. Adjusted EBITDA is still projected at $275 million to $290 million, while adjusted earnings are expected in the range of 57.5-67.5 cents per share.The outlook incorporates completed divestitures, the Green Giant U.S. frozen co-manufacturing agreement and the College Inn and Kitchen Basics acquisition. It excludes the pending Green Giant Canada divestiture, which management expects to close during the third quarter of fiscal 2026.Shares of BGS have tumbled 22.3% over the past three months, against the industry’s growth of 8.6%. Darling Ingredients Inc. DAR, a global developer and producer of sustainable natural ingredients derived from edible and inedible bio-nutrients, currently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks hereThe Zacks Consensus Estimate for Darling’s current fiscal-year sales calls for 12.8% growth from the prior-year levels. The consensus estimate for current fiscal-year earnings per share (EPS) stands at $6.98, which implies substantial growth from the year-ago period. DAR delivered a trailing four-quarter earnings surprise of 38.9%, on average.The Vita Coco Company, Inc. COCO, a leading beverage company that develops, markets and distributes coconut water and other plant-based beverages, currently sports a Zacks Rank #1. COCO delivered a trailing four-quarter earnings surprise of 21.9%, on average.The Zacks Consensus Estimate for The Vita Coco Company’s current fiscal-year sales and earnings calls for growth of 31.6% and 64.7%, respectively, from the year-ago figures.US Foods Holding Corp. USFD engages in the marketing, sale and distribution of fresh, frozen and dry food and non-food products to foodservice customers in the United States. USFD currently carries a Zacks Rank #2 (Buy). US Foods Holding delivered a trailing four-quarter earnings surprise of 1.5%, on average.The Zacks Consensus Estimate for US Foods Holding’s current fiscal-year sales and earnings implies growth of 5.1% and 16.3%, respectively, from the year-ago figures. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report B&G Foods, Inc. (BGS) : Free Stock Analysis Report Vita Coco Company, Inc. (COCO) : Free Stock Analysis Report Darling Ingredients Inc. (DAR) : Free Stock Analysis Report US Foods Holding Corp. (USFD) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

PARSIPPANY, N.J., August 11, 2026--(BUSINESS WIRE)--B&G Foods, Inc. (NYSE: BGS) today announced financial results for the second quarter and first two quarters of 2026. Financial results for the second quarter and first two quarters of 2026 include the impact of the College Inn and Kitchen Basics acquisition, which was completed on March 19, 2026, the Green Giant U.S. frozen divestiture, which was completed on March 2, 2026, and the co‑manufacturing agreement the Company entered into on March 2, 2026 with the acquirer of the Green Giant U.S. frozen business. Summary Guidance for Full Year Fiscal 2026 Net sales reaffirmed at a range of $1.735 billion to $1.775 billion. Adjusted EBITDA reaffirmed at a range of $275.0 million to $290.0 million. Adjusted diluted earnings per share reaffirmed at a range of $0.575 to $0.675. "Our second quarter results reflect the discipline we have brought to reshaping B&G Foods’ portfolio. Following the divestiture of our Green Giant U.S. frozen business and the acquisition of the College Inn and Kitchen Basics brands, we grew adjusted EBITDA and expanded our adjusted EBITDA margin in the second quarter as compared to the second quarter of last year, while reducing selling, general and administrative expenses. We also completed a $475 million offering of senior notes due 2031 to refinance senior notes due 2027, strengthening our balance sheet. Together, these results keep us on track to deliver our full year 2026 guidance," said Bruce Wacha, Executive Vice President of Finance and Chief Financial Officer of B&G Foods. Financial Results for the Second Quarter of 2026 Net sales for the second quarter of 2026 decreased $41.1 million, or 9.7%, to $383.3 million from $424.4 million for the second quarter of 2025. The decrease was primarily attributable to the Green Giant U.S. frozen, Le Sueur U.S. and Don Pepino divestitures and a decrease in base business net sales, partially offset by three months of net sales from the co-manufacturing agreement the Company entered into with the acquirer of the Green Giant U.S. frozen business, and three months of net sales for the College Inn and Kitchen Basics brands. Net sales of the Company’s Green Giant U.S. frozen business, which the Company no longer owned during the second quarter of 2026, contributed $58.3 million of net sales during the second quarter of 2025. Net sales of the Don Pepino and Le Sueur U.S. businesses, which the Company divested in 2025 and are therefore not part of the Company’s second quarter of 2026 results, were $9.7 million during the second quarter of 2025. Partially offsetting the impact of these divestitures were three months of net sales from the new Green Giant U.S. frozen co-manufacturing agreement, which contributed $23.9 million of net sales in the second quarter of 2026, and three months of net sales for the recently acquired College Inn and Kitchen Basics brands, which contributed $13.2 million to the Company’s net sales for the second quarter of 2026. Base business net sales for the second quarter of 2026 decreased $10.2 million, or 2.9%, to $346.3 million from $356.5 million for the second quarter of 2025. The decrease in base business net sales was driven by a decrease in volume of $15.5 million, or 4.3% of base business net sales, partially offset by an increase in net pricing and the impact of product mix (primarily related to the Spices & Flavor Solutions business unit) of $5.1 million, or 1.4% of base business net sales, and the positive impact of foreign currency of $0.2 million, or 0.1% of net sales. For the second quarter of 2026, gross profit was $79.6 million, or 20.8% of net sales, and adjusted gross profit(1) was $83.7 million, or 21.8% of net sales. For the second quarter of 2025, gross profit was $87.0 million, or 20.5% of net sales, and adjusted gross profit was $89.1 million, or 21.0% of net sales. Gross profit as a percentage of net sales increased due to the acquisition of the higher margin College Inn and Kitchen Basics brands, the divestiture of the lower margin Green Giant U.S. frozen business, and tariff refunds received from the U.S. government during the second quarter. Selling, general and administrative expenses decreased $6.6 million, or 14.0%, to $40.6 million for the second quarter of 2026 from $47.2 million for the second quarter of 2025. The decrease was composed of decreases in warehousing expenses of $3.7 million, general and administrative expenses of $2.7 million, consumer marketing expenses of $1.7 million, and selling expenses of $0.8 million, partially offset by an increase in acquisition/divestiture‑related and non-recurring expenses of $2.3 million. Expressed as a percentage of net sales, selling, general and administrative expenses improved by 0.5 percentage points to 10.6% for the second quarter of 2026, as compared to 11.1% for the second quarter of 2025. Net interest expense increased $2.7 million, or 7.5%, to $38.5 million for the second quarter of 2026 from $35.8 million for the second quarter of 2025. The increase was primarily attributable to an increase in average long-term debt outstanding compared to the second quarter of 2025, and the 11.00% interest rate on the Company’s new 11.00% senior notes due 2031. During the second quarter of 2026, net interest expense was also negatively impacted in connection with the Company’s debt refinancing because the Company’s new 11.00% senior notes due 2031 were issued on June 10, 2026, prior to redemption of the Company’s 5.25% senior notes due 2027, and therefore during a 24-day period, the Company incurred interest expense on both sets of notes, which was only partially offset by interest earned on the net proceeds of the issuance of the 11.00% senior notes due 2031. The Company had a net loss of $4.0 million, or $0.05 per diluted share, for the second quarter of 2026, compared to a net loss of $9.8 million, or $0.12 per diluted share, for the second quarter of 2025. The Company’s adjusted net income for the second quarter of 2026 was $4.9 million, or $0.06 per adjusted diluted share, compared to adjusted net income of $2.9 million, or $0.04 per adjusted diluted share, for the second quarter of 2025. Adjusted EBITDA was $60.4 million for the second quarter of 2026 compared to $58.0 million for the second quarter of 2025. Adjusted EBITDA as a percentage of net sales was 15.8% for the second quarter of 2026, compared to 13.7% for the second quarter of 2025. The increases in net income, adjusted diluted earnings per share, adjusted EBITDA and adjusted EBITDA as a percentage of net sales were primarily attributable to the acquisition of the College Inn and Kitchen Basics brands, the divestiture of the Green Giant U.S. frozen business, the commencement of the Green Giant contract manufacturing business, and tariff refunds that were received from the U.S. government during the second quarter. Financial Results for First Two Quarters of 2026 Net sales for the first two quarters of 2026 decreased $57.6 million, or 6.8%, to $792.2 million from $849.8 million for the first two quarters of 2025. The decrease was primarily attributable to the Green Giant U.S. frozen, Le Sueur U.S. and Don Pepino divestitures, partially offset by four months of net sales from the co‑manufacturing agreement the Company entered into on March 2, 2026 with the acquirer of the Green Giant U.S. frozen business, three-and-a-half months of net sales for the College Inn and Kitchen Basics brands, and an increase in base business net sales. Net sales of the Company’s Green Giant U.S. frozen business, which the Company owned for only two months during the first two quarters of 2026, contributed $85.6 million less net sales during the first two quarters of 2026 as compared to the first two quarters of 2025. Net sales of the Don Pepino and Le Sueur U.S. businesses, which the Company divested in 2025 and are therefore not part of the Company’s first two quarters of 2026 results, were $20.3 million during the first two quarters of 2025. Partially offsetting the impact of these divestitures were four months of net sales from the new Green Giant U.S. frozen co-manufacturing agreement, which contributed $32.5 million of net sales in the first two quarters of 2026, and three-and-a-half months of net sales for the College Inn and Kitchen Basics brands, acquired on March 19, 2026, which contributed $16.1 million to the Company’s net sales for the first two quarters of 2026. Base business net sales for the first two quarters of 2026 increased $0.2 million to $711.4 million from $711.2 million for the first two quarters of 2025. The increase in base business net sales was driven by an increase in net pricing and the impact of product mix (primarily related to the Spices & Flavor Solutions business unit) of $6.7 million, or 0.9% of base business net sales, and the positive impact of foreign currency of $1.9 million, or 0.3% of base business net sales, largely offset by a decrease in volume of $8.4 million, or 1.2% of base business net sales. For the first two quarters of 2026, gross profit was $159.5 million or 20.1% of net sales, and adjusted gross profit was $168.2 million, or 21.2% of net sales. For the first two quarters of 2025, gross profit was $177.1 million, or 20.8% of net sales, and adjusted gross profit was $179.7 million, or 21.1% of net sales. Selling, general and administrative expenses decreased $5.5 million, or 5.8%, to $90.8 million for the first two quarters of 2026 from $96.3 million for the first two quarters of 2025. The decrease was composed of decreases in general and administrative expenses of $6.6 million, warehousing expenses of $5.2 million, consumer marketing expenses of $1.7 million and selling expenses of $0.7 million, partially offset by an increase in acquisition/divestiture‑related and non‑recurring expenses of $8.7 million, inclusive of an increase of $1.9 million for disposals and impairments of property, plant and equipment. Expressed as a percentage of net sales, selling, general and administrative expenses increased by 0.2 percentage points to 11.5% for the first two quarters of 2026, as compared to 11.3% for the first two quarters of 2025. During the first two quarters of 2026, the Company recognized a loss on sale of assets of $36.3 million, primarily related to the divestiture of the Green Giant U.S. frozen business. During the first two quarters of 2025, the Company recognized a loss on sale of assets of $12.6 million related to the Don Pepino divestiture. Net interest expense increased $0.8 million, or 1.0%, to $74.3 million for the first two quarters of 2026 from $73.5 million for the first two quarters of 2025. The increase was primarily attributable to an increase in average long‑term debt outstanding during the first two quarters of 2026 compared to the first two quarters of 2025, and the 11.00% interest rate on the Company’s new 11.00% senior notes due 2031. During the first two quarters of 2026, net interest expense was also negatively impacted in connection with the Company’s debt refinancing because the Company’s new 11.00% senior notes due 2031 were issued on June 10, 2026, prior to the redemption of the Company’s 5.25% senior notes due 2027, and therefore during a 24-day period, the Company incurred interest expense on both sets of notes, which was only partially offset by interest earned on the net proceeds of the issuance of the 11.00% senior notes due 2031. The Company had a net loss of $36.5 million, or $0.45 per diluted share, for the first two quarters of 2026, compared to net loss of $8.9 million, or $0.11 per diluted share, for the first two quarters of 2025. The Company’s net loss for the first two quarters of 2026 was primarily attributable to: the loss on sale of assets of $36.3 million (primarily related to the divestiture of the Green Giant U.S. frozen business), the decrease in the Company’s net sales and an increase in acquisition/divestiture-related and non-recurring expenses. The Company’s adjusted net income for the first two quarters of 2026 was $11.7 million, or $0.14 per adjusted diluted share, compared to adjusted net income of $6.3 million, or $0.08 per adjusted diluted share, for the first two quarters of 2025. The increase in adjusted net income and adjusted diluted earnings per share in the first two quarters of 2026 was primarily attributable to the factors described above, and a decrease in depreciation and amortization. For the first two quarters of 2026, adjusted EBITDA was $118.0 million, an increase of $0.9 million, or 0.8%, compared to $117.1 million for the first two quarters of 2025. Adjusted EBITDA as a percentage of net sales was 14.9% for the first two quarters of 2026, compared to 13.8% for the first two quarters of 2025. Segment Results(3) The Company operates in, and reports results by, four business segments (also referred to as business units): Specialty — includes, among others, the Crisco, Clabber Girl, Bear Creek, Polaner, Underwood, B&G, Grandma’s, New York Style, B&M, Baker’s Joy, Regina, TrueNorth, Static Guard, SugarTwin and Brer Rabbit brands. Specialty also included the Don Pepino and Sclafani brands until the Company’s divestiture of those brands on May 23, 2025. Meals — includes, among others, the Ortega, Cream of Wheat, College Inn, Maple Grove Farms, Las Palmas, Kitchen Basics, Victoria, Mama Mary’s, Spring Tree, Carey’s, McCann’s and Vermont Maid brands. Frozen & Vegetables — primarily includes (1) the Company’s frozen vegetable manufacturing operations in Mexico which, following the sale of the Company’s Green Giant U.S. frozen business on March 2, 2026, co-manufactures frozen vegetable products for the company that acquired the Company’s Green Giant U.S. frozen business and (2) the Company’s Green Giant and Le Sieur brands in Canada, and included the Company’s Green Giant U.S. frozen and Le Sueur brands in the United States until the Company’s divestitures of those brands on March 2, 2026 and on August 1, 2025, respectively. Spices & Flavor Solutions — includes, among others, the Dash, Spice Islands, Weber, Ac’cent, Tone’s, Trappey’s, Durkee and Wright’s brands. Specialty Segment Results Specialty segment results were as follows (dollars in thousands): The decrease in Specialty segment net sales for the second quarter and first two quarters of 2026 was primarily due to a decrease in volumes in the Specialty portfolio and the divestiture of the Don Pepino business, which generated $1.8 million and $5.3 million of net sales in the second quarter and first two quarters of 2025, respectively. The decrease in Specialty segment adjusted EBITDA for the second quarter and first two quarters of 2026 was primarily due to higher oil input costs for the Crisco brand, the Don Pepino divestiture and a decline in volumes. Meals Segment Results Meals segment results were as follows (dollars in thousands): The increase in Meals segment net sales for the second quarter and first two quarters of 2026 was primarily due to the College Inn and Kitchen Basics acquisition, which contributed $13.2 million and $16.1 million of net sales for the second quarter and first two quarters of 2026, respectively, and an increase in net pricing and the impact of product mix, offset in part by lower volumes across the Meals segment in the aggregate, after excluding the benefit of the net sales from the College Inn and Kitchen Basics acquisition. The increase in Meals segment adjusted EBITDA in the second quarter of 2026 was primarily due to the increase in Meals segment net sales, primarily attributable to the College Inn and Kitchen Basics acquisition. The decrease in Meals segment adjusted EBITDA in the first two quarters of 2026 was primarily due to an increase in certain raw material costs and manufacturing expenses. Meals segment adjusted EBITDA was also impacted by increases in trade spending and direct marketing expenses for certain brands. These incremental costs were offset in part by an increase in overall net pricing for the Meals segment and the impact of product mix, and the College Inn and Kitchen Basics acquisition. Frozen & Vegetables Segment Results Frozen & Vegetables segment results were as follows (dollars in thousands): The decrease in Frozen & Vegetables segment net sales for the second quarter and first two quarters of 2026 was primarily due to the Green Giant U.S. frozen divestiture (which negatively impacted net sales versus the second quarter and first two quarters of 2025 by $34.5 million and $53.1 million, respectively, net of the positive impact on net sales of the new Green Giant U.S. frozen co‑manufacturing agreement of $23.9 million and $32.5 million, respectively), and the Le Sueur U.S. divestiture (which negatively impacted net sales versus the second quarter and first two quarters of 2025 by $7.9 million and $15.1 million, respectively). Net sales for Green Giant Canada(2) increased by $0.5 million, or 2.4%, and $4.8 million, or 9.8%, for the second quarter and first two quarters of 2026, respectively. The increase in Frozen & Vegetables segment adjusted EBITDA for the second quarter and first two quarters of 2026 was primarily due to the Green Giant U.S. frozen divestiture and the new Green Giant U.S. frozen co‑manufacturing agreement. Spices & Flavor Solutions Segment Results Spices & Flavor Solutions segment results were as follows (dollars in thousands): The increase in Spices & Flavor Solutions segment net sales for the first two quarters of 2026 was primarily due to an increase in net pricing and strong growth in the foodservice and private label channels. Spices & Flavor Solutions segment net sales for the second quarter of 2026 were slightly higher due to an increase in net pricing and the continued growth in the foodservice and private label channels, partially offset by declines in the retail channel. The increase in Spices & Flavor Solutions segment adjusted EBITDA for the second quarter and first two quarters of 2026 was primarily due to an increase in net pricing, tariff refunds that were received from the U.S. government during the second quarter, and a reduction in input costs for spices relative to the first two quarters of last year. Full Year Fiscal 2026 Guidance B&G Foods reaffirmed its net sales guidance for fiscal 2026 at a range of $1.735 billion to $1.775 billion, reaffirmed its adjusted EBITDA guidance at a range of $275.0 million to $290.0 million, and reaffirmed its adjusted diluted earnings per share at a range of $0.575 to $0.675. This guidance (1) includes the expected impact of one fewer reporting week in fiscal 2026 as compared to fiscal 2025, (2) includes the expected impact of the Company’s divestiture of the Green Giant U.S. frozen business, which closed on March 2, 2026, and the Company’s entry into a co-manufacturing agreement with the acquirer of the business, (3) includes the expected impact of the Don Pepino divestiture, which closed on May 23, 2025, (4) includes the expected impact of the Le Sueur U.S. divestiture, which closed on August 1, 2025, (5) includes the expected impact of the College Inn and Kitchen Basics acquisition, which closed on March 19, 2026, and (6) excludes the expected impact of the pending Green Giant Canada divestiture, which, subject to regulatory review in Canada and customary closing conditions, is expected to close during the third quarter of 2026. B&G Foods provides earnings guidance only on a non-GAAP basis and does not provide a reconciliation of the Company’s forward-looking adjusted EBITDA and adjusted diluted earnings per share guidance to the most directly comparable GAAP financial measures because of the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations, including adjustments that could be made for deferred taxes; acquisition/divestiture-related expenses, gains and losses (which may include third-party fees and expenses, integration, restructuring and consolidation expenses, amortization of acquired inventory fair value step-up and gains and losses on the sale of certain assets); gains and losses on extinguishment of debt; impairment of assets held for sale; impairment of intangible assets; non-recurring expenses, gains and losses; and other charges reflected in the Company’s reconciliation of historic non-GAAP financial measures, the amounts of which, based on past experience, could be material. For additional information regarding B&G Foods’ non-GAAP financial measures, see "About Non-GAAP Financial Measures and Items Affecting Comparability" below. Conference Call B&G Foods will hold a conference call at 4:30 p.m. ET today, August 11, 2026 to discuss second quarter 2026 financial results. The live audio webcast of the conference call can be accessed at www.bgfoods.com/investor-relations. A replay of the webcast will be available following the conference call through the same link. About Non-GAAP Financial Measures and Items Affecting Comparability "Adjusted net income" (net income (loss) adjusted for certain items that affect comparability), "adjusted diluted earnings per share" (diluted earnings (loss) per share adjusted for certain items that affect comparability), "base business net sales" (net sales excluding (1) the net sales from acquisitions until the net sales from such acquisitions are included in both comparable periods, (2) net sales of discontinued or divested brands, and (3) net sales from the Company’s Green Giant U.S. frozen co-manufacturing agreement until the net sales from the co‑manufacturing agreement are included in both comparable periods), "EBITDA" (net income (loss) before net interest expense, income taxes, and depreciation and amortization), "adjusted EBITDA" (EBITDA as adjusted for cash and non-cash acquisition/divestiture-related expenses, gains and losses (which may include third-party fees and expenses, integration, restructuring and consolidation expenses, amortization of acquired inventory fair value step-up and gains and losses on the sale of certain assets), gains and losses on extinguishment of debt, impairment of assets held for sale, impairment of intangible assets, and non-recurring expenses, gains and losses), "segment adjusted EBITDA" (segment net sales less segment adjusted expenses), "segment adjusted expenses" (primarily includes cost of goods sold and other expenses incurred by the Company’s business segments to run day-to-day operations, excluding unallocated corporate items, depreciation and amortization, acquisition/divestiture-related and non-recurring expenses, impairment of intangible assets, goodwill and assets held for sale, gains and losses on sales of assets, interest expense, and income tax expense or benefit), "adjusted gross profit" (gross profit adjusted for acquisition/divestiture-related expenses and non-recurring expenses included in cost of goods sold) and "adjusted gross profit percentage" (gross profit as a percentage of net sales adjusted for acquisition/divestiture-related expenses and non-recurring expenses included in cost of goods sold) are "non-GAAP financial measures." A non-GAAP financial measure is a numerical measure of financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States (GAAP) in B&G Foods’ consolidated balance sheets and related consolidated statements of operations, comprehensive (loss) income, changes in stockholders’ equity and cash flows. Non-GAAP financial measures should not be considered in isolation or as a substitute for the most directly comparable GAAP measures. The Company’s non-GAAP financial measures may be different from non-GAAP financial measures used by other companies. The Company uses non-GAAP financial measures to adjust for certain items that affect comparability. This information is provided in order to allow investors to make meaningful comparisons of the Company’s operating performance between periods and to view the Company’s business from the same perspective as the Company’s management. Because the Company cannot predict the timing and amount of these items that affect comparability, management does not consider these items when evaluating the Company’s performance or when making decisions regarding allocation of resources. Additional information regarding EBITDA, adjusted EBITDA, segment adjusted EBITDA and reconciliations of EBITDA, adjusted EBITDA and segment adjusted EBITDA to net loss and, in the case of EBITDA and adjusted EBITDA, to net cash provided by operating activities, is included below for the second quarter and first two quarters of 2026 and 2025, along with the components of EBITDA, adjusted EBITDA and segment adjusted EBITDA. Also included below are reconciliations of the non-GAAP terms adjusted net income, adjusted diluted earnings per share and base business net sales to the most directly comparable measure calculated and presented in accordance with GAAP in the Company’s consolidated balance sheets and related consolidated statements of operations, comprehensive (loss) income, changes in stockholders’ equity and cash flows. End Notes About B&G Foods, Inc. Based in Parsippany, New Jersey, B&G Foods and its subsidiaries manufacture, sell and distribute high-quality, branded shelf-stable and frozen foods across the United States, Canada and Puerto Rico. With B&G Foods’ diverse portfolio of more than 50 brands you know and love, including B&G, B&M, Bear Creek, College Inn, Cream of Wheat, Crisco, Dash, Kitchen Basics, Las Palmas, Mama Mary’s, Maple Grove Farms, New York Style, Ortega, Polaner, Spice Islands and Victoria, there’s a little something for everyone. For more information about B&G Foods and its brands, please visit www.bgfoods.com. Forward-Looking Statements Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." The forward-looking statements contained in this press release include, without limitation, statements related to B&G Foods’ expectations regarding net sales, adjusted EBITDA and adjusted diluted earnings per share and B&G Foods’ overall expectations for the remainder of fiscal 2026 and beyond. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of B&G Foods to be materially different from the historical results or from any future results expressed or implied by such forward‑looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "projects," "intends," "anticipates," "assumes," "could," "should," "estimates," "potential," "seek," "predict," "may," "will" or "plans" and similar references to future periods to be uncertain and forward-looking. Factors that may affect actual results include, without limitation: the Company’s substantial leverage, which may impact the Company’s ability, among other things, to fund capital expenditures, working capital needs, dividend payments and acquisitions, and to obtain refinancing or additional financing; the Company’s ability to comply with the ratios or tests under its long-term debt agreements, including the maximum consolidated leverage ratio and minimum consolidated interest coverage ratio under its credit agreement, which may be affected not only by the Company’s operating performance but also by events beyond the Company’s control, including prevailing economic, financial and industry conditions, and changes in interest rates; the effects of international trade disputes, tariffs, quotas, and other import or export restrictions on the Company’s procurement, sales and operations (including recent U.S. tariffs imposed or threatened to be imposed on China, Canada and Mexico and other countries and retaliatory actions taken or threatened to be taken by such countries); the effects of rising costs for and/or decreases in supply of the Company’s commodities, ingredients, packaging, other raw materials, distribution and labor; crude oil prices and their impact on distribution, packaging and energy costs; the Company’s ability to successfully implement sales price increases and cost-saving measures to offset any cost increases; intense competition, changes in consumer preferences, demand for the Company’s products and local economic and market conditions; the Company’s continued ability to promote brand equity successfully, to anticipate and respond to new consumer trends, to develop new products and markets, to broaden brand portfolios in order to compete effectively with lower priced products and in markets that are consolidating at the retail and manufacturing levels and to improve productivity; the ability of the Company and its supply chain partners to continue to operate manufacturing facilities, distribution centers and other work locations without material disruption, and to procure ingredients, packaging and other raw materials when needed despite disruptions in the supply chain or labor shortages; the impact pandemics or disease outbreaks, may have on the Company’s business, including among other things, the Company’s supply chain, manufacturing operations or workforce and customer and consumer demand for the Company’s products; the Company’s ability to recruit and retain senior management and a highly skilled and diverse workforce at the Company’s corporate offices, manufacturing facilities and other work locations despite a very tight labor market and changing employee expectations as to fair compensation, an inclusive and diverse workplace, flexible working and other matters; the risks associated with the possible expansion of the Company’s business through acquisitions or reduction in size through divestitures; the Company’s possible inability to successfully complete divestitures of non-core businesses, including the pending divestiture of the Company’s Green Giant and Le Sieur frozen and shelf-stable business in Canada, to sharpen its focus, improve margins, reduce costs and reduce its long‑term debt, and, if completed, the Company’s possible inability to achieve the expected margin improvements, cost savings and debt reduction; the Company’s possible inability to identify new acquisitions or to integrate recent or future acquisitions, including the College Inn and Kitchen Basics acquisition, or the Company’s failure to realize anticipated revenue enhancements, cost savings or other synergies from recent or future acquisitions; the Company’s ability to successfully complete the integration of recent or future acquisitions into the Company’s enterprise resource planning (ERP) system; tax reform and legislation, including the effects of the U.S. Tax Cuts and Jobs Act and the One Big Beautiful Bill Act, and any future tax reform or legislation; the Company’s ability to access the credit markets and the Company’s borrowing costs and credit ratings, which may be influenced by credit markets generally and the credit ratings of the Company’s competitors; unanticipated expenses, including, without limitation, litigation or legal settlement expenses; the effects of currency movements of the Canadian dollar and the Mexican peso as compared to the U.S. dollar; future impairments of the Company’s goodwill, other intangible assets, and tangible assets, such as property, plant, equipment or inventory, which impairments may be triggered if operating results for any of the Company’s brands deteriorate at rates in excess of its current projections, the Company’s market capitalization declines or discount rates change, even if due to macroeconomic factors, or may be triggered by divestitures, if divestiture proceeds are less than the book value of the assets being divested; the Company’s ability to protect information systems against, or effectively respond to, a cybersecurity incident, other disruption or data leak; the Company’s ability to successfully implement the Company’s sustainability initiatives and achieve the Company’s sustainability goals, and changes to environmental laws and regulations; the Company’s ability to successfully adopt and utilize new technologies, such as artificial intelligence, including machine learning and generative artificial intelligence; and other factors that affect the food industry generally, including: recalls if products become adulterated or misbranded, liability if product consumption causes injury, ingredient disclosure and labeling laws and regulations and the possibility that consumers could lose confidence in the safety and quality of certain food products; competitors’ pricing practices and promotional spending levels; fluctuations in the level of the Company’s customers’ inventories and credit and other business risks related to the Company’s customers operating in a challenging economic and competitive environment; and the risks associated with third-party suppliers and co-packers, including the risk that any failure by one or more of the Company’s third-party suppliers or co-packers to comply with food safety or other laws and regulations may disrupt the Company’s supply of raw materials or certain finished goods products or injure the Company’s reputation. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in B&G Foods’ filings with the Securities and Exchange Commission, including under Item 1A, "Risk Factors" in the Company’s most recent Annual Report on Form 10-K and in its subsequent reports on Forms 10-Q and 8-K. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. B&G Foods undertakes no obligation to publicly update or revise any forward‑looking statement, whether as a result of new information, future events or otherwise. View source version on businesswire.com: https://www.businesswire.com/news/home/20260811589324/en/ Contacts Investor Relations:ICR, Inc.Anna Kate [email protected] Media Relations:ICR, Inc.Matt [email protected]