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Last $30.11 USD
Change Today +0.11 / 0.37%
Volume 250.8K
BGS On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

b&g foods inc (BGS) Key Developments

B&G Foods Declares Regular Quarterly Dividend, Payable on July 30, 2015

B&G Foods Inc. announced that its Board of Directors has declared a regular quarterly cash dividend of $0.34 per share of common stock. The dividend is payable on July 30, 2015 to shareholders of record as of June 30, 2015.

B&G Foods Mulls Acquisitions

B&G Foods Inc. (NYSE:BGS) has completed a public offering of 4.2 million shares and expects to use the net proceeds of about $126.2 million for general corporate purposes, which may include, among other things, the repayment or retirement of a portion of B&G Foods' long-term debt or future acquisitions, if any.

B&G Foods Mulls Acquisitions

B&G Foods Inc. (NYSE:BGS) is offering 4.2 million shares of its common stock, pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission and expects to use the net proceeds of the offering for general corporate purposes, which may include, among other things, the repayment or retirement of a portion of B&G Foods' long-term debt or future acquisitions, if any.

B&G Foods Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended April 4, 2015; Reaffirms Earnings Guidance for the Full Year 2015

B&G Foods Inc. announced unaudited consolidated earnings results for the first quarter ended April 4, 2015. For the quarter, the company announced net sales of $217,122,000 compared to $198,140,000 for the same period a year ago. Operating income was $41,876,000 compared to $38,819,000 for the same period a year ago. Income before income tax expense was $30,337,000 compared to $27,677,000 for the same period a year ago. Net income was $19,567,000 compared to $17,777,000 for the same period a year ago. Basic and diluted earnings per share were $0.36 compared to $0.33 for the same period a year ago. EBITDA was $48,420,000 compared to $45,714,000 for the same period a year ago. Adjusted EBITDA was $49,926,000 compared to $46,455,000 for the same period a year ago. Net cash provided by operating activities was $38,681,000 compared to $31,003,000 for the same period a year ago. Adjusted net income was $20,538,000 compared to $18,253,000 for the same period a year ago. Adjusted diluted earnings per share were $0.38 compared to $0.34 for the same period a year ago. Net sales were negatively impacted by the Rickland Orchards brand, whose net sales decreased by $7.6 million compared to the first quarter of 2014. The company reaffirmed full-year 2015 guidance ranges for adjusted EBITDA of $196.0 million to $202.0 million, adjusted diluted earnings per share of $1.48 to $1.55 and net sales of $860.0 million to $880.0 million. It expects to continue to see positive year-over-year results.

B&G Foods Seeks Acquisitions

B&G Foods Inc. (NYSE:BGS) is looking for acquisitions. Tom Crimmins, Chief Financial officer of B&G Foods states, "We would do acquisitions tomorrow and then go back and use the capital markets where we see fit to go back to the capital markets at some point to take leverage down. We always look at all opportunities in the capital markets and we know at some point here we've got to go back to the capital markets to reduce leverage, half a turn or more, just to open up the ability not to kind of bump too high up against the five-times leverage with acquisitions. From an acquisition standpoint, we're always looking. We're very willing buyers and we're truly ready to acquire things in both dry grocery and snacks. This company is very poised to do that at this stage."

 

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