B&G Foods, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 30, 2023
February 27, 2024 at 04:05 pm EST
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B&G Foods, Inc. reported earnings results for the fourth quarter and full year ended December 30, 2023. For the fourth quarter, the company reported sales was USD 578.13 million compared to USD 623.23 million a year ago. Net income was USD 2.58 million compared to USD 24.3 million a year ago. Basic earnings per share from continuing operations was USD 0.03 compared to USD 0.34 a year ago. Diluted earnings per share from continuing operations was USD 0.03 compared to USD 0.34 a year ago.
For the full year, sales was USD 2,062.31 million compared to USD 2,163 million a year ago. Net loss was USD 66.2 million compared to USD 11.37 million a year ago. Basic loss per share from continuing operations was USD 0.89 compared to USD 0.16 a year ago. Diluted loss per share from continuing operations was USD 0.89 compared to USD 0.16 a year ago.
B&G Foods, Inc. manufactures, sells and distributes branded shelf-stable and frozen foods across the United States, Canada and Puerto Rico. Its products include frozen and canned vegetables, vegetable, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, and other specialty products. It operates in four segments: Specialty, Meals, Frozen & Vegetables and Spices & Flavor Solutions. Its products are marketed under various brands, including Ac'cent, B&G, B&M, Baker's Joy, Bear Creek Country Kitchens, Brer Rabbit, Canoleo, Cary's, Clabber Girl, Cream of Rice, Cream of Wheat, Crisco, Dash, Davis, Devonsheer, Don Pepino, Durkee, Grandma's Molasses, Green Giant, Joan of Arc, Las Palmas, Le Sueur, MacDonald's, Mama Mary's, Maple Grove Farms of Vermont, McCann's, Molly McButter, New York Flatbreads, New York Style, Old London, Polaner, and Wright's.