B&G Foods, Inc. announced its financial results for the first quarter of 2025 on May 7, 2025, reporting a net sales decrease of 10.5% year-over-year to $425.4 million. Base business net sales also declined by 10.5%, driven by lower volume, reduced net pricing, and negative product mix.
Adjusted diluted EPS for the quarter was $0.04, a significant 77.8% decrease compared to Q1 2024. Adjusted EBITDA fell by 21.2% to $59.1 million, with the adjusted EBITDA as a percentage of net sales decreasing to 13.9% from 15.8% in the prior year.
The company revised its full-year fiscal 2025 guidance, now expecting net sales between $1.86 billion and $1.91 billion, adjusted EBITDA between $280.0 million and $290.0 million, and adjusted diluted EPS between $0.55 and $0.65. This represents a downward adjustment from previous expectations.
CEO Casey Keller attributed the challenging results to a difficult packaged foods industry environment, including retailer inventory reductions and the timing of Easter. The Frozen & Vegetables segment was a notable drag, with adjusted EBITDA decreasing by 118.8% due to lower sales, increased trade promotions, and higher raw material costs.
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