B&G Foods has “narrowed” its fiscal year outlook for sales and profits for the third time amid a mixed bag in its latest financial accounts.
New York-listed B&G Foods did not provide a specific reason for the guidance amendments but group sales fell in the third quarter, net profit turned to a loss and both adjusted EBITDA and EPS delivered flat results.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The net loss of $19.1m for the three months to 27 September – versus a $7.5m profit a year earlier – was attributed to more than $50m in total non-cash impairment charges.
B&G Foods said $27.8m was linked to the held-for-sale assets of the Green Giant frozen and shelf-stable vegetable products business in Canada, a disposal announced in October to Nortera Foods.
Another $26m was related to the impairment of so-called “indefinite lived intangible trademark assets” for the Victoria brand of pasta sauces and condiments, and the McCann’s oats line brands. That was offset by a $15.5m gain from the divestment of the Le Sueur vegetable brand to McCall Farms in August.
Full-year expectations for sales have now been set in a range of $1.82-1.84bn, adjusted from the $1.83-1.88bn outlined at the second-quarter results stage in August. At the end of the previous fiscal year, B&G had forecast $1.89-1.95bn in February, before first amending estimates in May.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataFollowing the same pattern, adjusted EBITDA is now projected at $273-280m, versus $273-283m in August. The original forecast in February was $290-300m.
Adjusted diluted earnings per share are projected to come in at $0.50-0.58 against the previous estimate of $0.50-0.60 in August and the $0.65-0.75 projection in February.
Third-quarter net sales dropped 4.7% to $439.3m due to a decrease in volumes and the negative impact from exchange rates, although pricing was an offset. B&G Foods’ so-called base business sales fell 2.7% to $437m.
President and CEO Casey Kellers aid in the results commentary: “B&G Foods’ third-quarter results demonstrated significant improvement in adjusted EBITDA delivery and sequential improvement in base business net sales as compared to the first two quarters of 2025.
“Further, we announced in late October that we have reached an agreement to sell Green Giant Canada, another key divestiture to solidify the stability and strength of the core B&G Foods’ portfolio of brands.”
B&G Foods reported adjusted EBITDA of $70.4m, flat with the corresponding quarter of 2024.
Adjusted diluted EPS was $0.15 versus $0.13 a year earlier.
The business operates across four segments: speciality, meals, frozen and vegetables, and spices and flavourings.
In 2023, B&G Foods also sold its ambient range of Green Giant vegetable products in the US to Seneca Foods.
Sales dropped in all but one of those four business areas in the third quarter.
Speciality saw a 6.5% decline to $150.6m, while sales in meals dropped 1.4% to $110m. The frozen veg segment generated a 13.2% decrease to $77.4m
Spices and flavourings bucked the decline as sales rose 2.1% to $101.4m.
