B&G Foods, Inc.

Listed Company

BGSCIK 0001278027NYSEAcceleratedFood And Kindred ProductsDelawareFY ends Jan 2

Period

FY 2025

Revenue

$1.83B

Net Income

$-43.26M

Total Assets

$2.83B

Equity

$452.93M

Shares Out

79.97M

Op. Cash Flow

$101.40M

Business

B&G Foods, Inc. manufactures, sells and distributes a diverse portfolio of branded, shelf-stable and frozen food and household products. Its main offerings include packaged vegetables, condiments, oils and shortenings, baking products, cereals, sauces, spices, snacks, maple syrups and household items under many regional and national brands. The company operates four reportable business units: Specialty; Meals; Frozen & Vegetables; and Spices & Flavor Solutions. It markets and distributes products across the United States, Canada and Puerto Rico through supermarkets, mass merchants, warehouse clubs, wholesalers, foodservice, specialty distributors, non‑food outlets and e‑tailers.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	1,829	1,932	2,062	2,163	2,056
Cost of goods sold	1,430	1,511	1,607	1,753	1,619
Gross profit	399	422	456	410	437
Selling, general and administrative expenses	195	188	196	190	196
Amortization expense	20	20	21	21	22
Impairment of goodwill	0	71	0	0	—
(Gain) loss on sales of assets	−3	135,000	138	—	—
Impairment of assets held for sale	29	0	0	106	—
Impairment of intangible assets	61	320	21	0	23
Operating income (loss)	97	−177	80	99	196
Interest expense, net	150	157	151	125	107
Other income	−5	−4	−4	−7	−4
Loss before income tax benefit	−48	−331	−67	−19	94
Income tax benefit	−4	−79	−935,000	−8	26
Net loss	−43	−251	−66	−11	67
Basic (in shares)	80	79	74	70	65
Diluted (in shares)	80	79	74	70	66
Basic (in dollars per share)	−0.54	−3.18	−0.89	−0.16	1.03
Diluted (in dollars per share)	−0.54	−3.18	−0.89	−0.16	1.02
Cash dividends declared per share	0.76	0.76	0.76	1.62	1.9

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	56	51	41	45	34
Trade accounts receivable, less allowance for doubtful accounts and discounts of $2,034 and $3,529 as of January 3, 2026 and December 28, 2024, respectively	141	172	143	150	145
Inventories	421	511	569	726	610
Assets held for sale	51	—	—	—	—
Prepaid expenses and other current assets	53	38	42	38	38
Income tax receivable	17	9	8	8	4
Total current assets	740	781	803	1,019	834
Property, plant and equipment, net of accumulated depreciation of $484,809 and $464,153 as of January 3, 2026 and December 28, 2024, respectively	253	278	302	318	341
Operating lease right-of-use assets	51	55	70	66	65
Finance lease right-of-use assets	0	773,000	2	3	—
Goodwill	544	548	619	619	645
Other intangible assets, net	1,191	1,286	1,628	1,788	1,927
Other assets	46	35	23	19	7
Deferred income taxes	10	9	16	10	9
Total assets	2,835	2,994	3,463	3,842	3,829
Trade accounts payable	108	113	124	128	130
Accrued expenses	78	84	83	64	67
Current portion of operating lease liabilities	17	18	17	15	12
Current portion of finance lease liabilities	—	726,000	1	1	—
Current portion of long-term debt	5	6	22	50	—
Income tax payable	343,000	344,000	475,000	309,000	3
Dividends payable	15	15	15	14	33
Total current liabilities	223	237	262	272	244
Long-term debt, net of current portion	1,946	2,015	2,023	2,339	2,268
Deferred income taxes	168	168	267	289	311
Long-term operating lease liabilities, net of current portion	35	38	54	52	56
Other liabilities	11	12	21	21	30
Total liabilities	2,382	2,469	2,628	2,973	2,908
Commitments and contingencies (Note 14)	—	—	—	—	—
Preferred stock, $0.01 par value per share. Authorized 1,000,000 shares; no shares issued or outstanding	—	—	—	—	—
Common stock, $0.01 par value per share. Authorized 125,000,000 shares; 79,977,050 and 79,144,800 shares issued and outstanding as of January 3, 2026 and December 28, 2024, respectively	800,000	791,000	786,000	717,000	685,000
Accumulated other comprehensive income (loss)	15	−5	3	−9	−18
Retained earnings	437	529	785	877	934
Total stockholders' equity	453	525	835	868	920
Total liabilities and stockholders' equity	2,835	2,994	3,463	3,842	3,829

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−43	−251	−66	−11	67
Depreciation and amortization	66	69	70	81	83
Amortization of operating lease right-of-use assets	20	19	19	17	14
Amortization of deferred debt financing costs and bond discount/premium	6	6	8	5	5
Deferred income taxes	−2	−99	−26	−27	7
Impairment of intangible assets	61	320	21	—	—
Impairment of property, plant and equipment	3	208,000	0	—	—
Loss on sales of property, plant and equipment	1	215,000	725,000	−7	—
(Gain) loss on extinguishment of debt	−3	2	−911,000	0	—
Share-based compensation expense	13	9	7	4	5
Trade accounts receivable	32	−30	7	−6	−12
Inventories	−23	43	90	−125	−117
Prepaid expenses and other current assets	−14	2	−3	−5	5
Income tax receivable/payable, net	−8	−2	575,000	−6	14
Other assets	−9	−14	−4	−5	−2
Trade accounts payable	−3	−9	−8	83,000	10
Accrued expenses and lease liabilities	−30	−14	−6	−20	−25
Other liabilities	8	8	3	6	2
Net cash provided by operating activities	101	131	248	6	94
Capital expenditures	−31	−27	−26	−22	−44
Proceeds from sales of assets	70	−422,000	107	10	—
Net cash provided by (used in) investing activities	39	−28	82	−39	−43
Redemptions and repurchases of senior notes	−38	−266	−632	0	—
Proceeds from issuance of senior secured notes	0	250	550	0	—
Repayments of borrowings under term loan facility	−6	−529	−143	0	—
Borrowings under term loan facility	0	450	0	0	—
Repayments of borrowings under revolving credit facility	−225	−365	−553	−303	−295
Borrowings under revolving credit facility	195	440	440	420	225
Proceeds from issuance of common stock, net	0	0	74	65	110
Dividends paid	−61	−60	−56	−133	−123
Payments of tax withholding on behalf of employees for net share settlement of share-based compensation	−893,000	−615,000	−2	−4	−2
Payments of debt financing costs	−882,000	−13	−12	0	−276,000
Net cash used in financing activities	−136	−93	−334	45	−70
Effect of exchange rate fluctuations on cash and cash equivalents	813,000	−777,000	−9,000	−407,000	315,000
Net increase (decrease) in cash and cash equivalents	6	9	−4	12	−18
Cash interest payments	149	142	142	119	102
Cash income tax payments, net of refunds	6	21	25	26	6
Accruals related to purchases of property, plant and equipment	2	5	4	909,000	2
Right-of-use assets obtained in exchange for new operating lease liabilities	15	3	21	16	46

Filings

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