B+G Foods: Reports Q2-2024 Financial Results

Parsippany / NJ. (bgs) B+G Foods Inc. announced financial results for the second quarter of 2024. Financial results for the second quarter and first two quarters of 2024 reflect the impact of the Green Giant U.S. shelf-stable divestiture during the fourth quarter of 2023. President and Chief Executive Officer Casey Keller: «B+G Foods remains committed to execute against our long-term strategy to improve organic growth and focus the portfolio, despite short-term weakness in consumer packaged food demand. Second quarter results were largely in line with expectations, showing gradual, sequential improvement in base business net sales from the first quarter. Net sales on the highest margin Spices + Flavor Solutions business increased by 4.9 percent versus last year. As previously announced, we recently refinanced a large portion of our long-term debt, pushing out maturity dates several years into the future to reduce balance sheet risk. We also continue to review and work possible divestitures to reduce debt, increase focus on our core businesses, and position B+G Foods for long-term organic and acquisition growth.»

For additional information please read the Company’s PDF file below (113 KB):