B&G Foods reported its third‑quarter 2025 financial results, posting net sales of $439.3 million, a 4.7% decline from the prior year, and a net loss of $19.1 million, or –$0.24 per diluted share. The company’s adjusted diluted earnings per share rose 15.4% to $0.15, beating the consensus estimate of $0.11 by $0.04.
Adjusted EBITDA for the quarter was $70.4 million, essentially flat against $70.3 million a year earlier, and represented 16.0% of net sales, up from 15.3% in Q3 2024. The improvement reflects stronger pricing and a more favorable product mix, offset by higher commodity costs in some segments.
Segment performance varied. The Specialty unit generated $150.5 million in net sales and $37.7 million in adjusted EBITDA, a 8.7% decline driven by reduced volume in legacy brands. The Meals segment posted $110.0 million in net sales and $23.9 million in adjusted EBITDA, a 2.7% increase supported by higher demand in club and foodservice channels. The Frozen & Vegetables unit reported $109.0 million in net sales and $23.9 million in adjusted EBITDA, benefiting from lower crop pack costs and productivity gains. The Spices & Flavor Solutions segment delivered $101.4 million in net sales and $26.4 million in adjusted EBITDA, a 4.5% decline largely attributable to tariff‑related cost pressures.
The EPS beat was driven by disciplined cost management and a shift toward higher‑margin products, which helped offset the 4.7% revenue decline. While the company reported a net loss, the adjusted earnings figure reflected the impact of one‑time charges and allowed the company to demonstrate profitability on a recurring basis.
B&G Foods narrowed its full‑year 2025 guidance to net sales of $1.82 billion–$1.84 billion, adjusted EBITDA of $273.0 million–$280.0 million, and adjusted diluted EPS of $0.50–$0.58. The guidance revision signals management’s confidence in maintaining margin expansion and the effectiveness of its cost‑control initiatives, while acknowledging the ongoing impact of divestitures and commodity price volatility.
The company also confirmed a sale agreement for Green Giant Canada, a key divestiture expected to close in the second quarter of 2026. The transaction, valued at $120 million, is intended to reduce debt and sharpen focus on core brands, aligning with B&G’s broader portfolio‑shaping strategy.
Investors reacted positively to the results, citing the EPS beat, revenue resilience, and margin improvement as evidence of effective execution. Management emphasized that the divestiture strategy and cost‑control measures are positioned to support long‑term profitability and a lower leverage ratio.
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