B&G Foods Inc. Declares Quarterly Dividend Payable on April 30, 2015
Mar 11 15
B&G Foods Inc. will distribute an unchanged quarterly dividend of $0.34 per share, payable on April 30, 2015 to holders of record on March 31, 2015 with an ex-dividend date of March 27, 2015.
B&G Foods Inc. Announces Executive Changes
Mar 10 15
B&G Foods Inc. announced that it has appointed Thomas P. Crimmins as its Executive Vice President of Finance and Chief Financial Officer, effective March 16, 2015. In this role, Mr. Crimmins will oversee the company’s finance organization and be a part of the company’s executive management team, reporting to President and Chief Executive Officer, Robert C. Cantwell. Mr. Crimmins joins B&G Foods from DRS Technologies Inc., where he spent 16 years, the last three as that company’s Executive Vice President and Chief Financial Officer. In that position, he was responsible for corporate and operational finance, corporate procurement, taxation, accounting, treasury and internal audit. Mr. Crimmins replaces Mr. Cantwell, who has been the company’s Executive Vice President of Finance and Chief Financial Officer since 1991, and has been serving in that role on an interim basis since the beginning of this year, when he was promoted to President and Chief Executive Officer.
B&G Foods Inc. Reports Unaudited Consolidated Financial Results for the Fourth Quarter and Full-Year Ended January 3, 2015; Provides Earnings Guidance for the Fiscal Year 2015
Feb 18 15
B&G Foods Inc. reported unaudited consolidated financial results for the fourth quarter and full-year ended January 3, 2015. For the quarter, the company reported net sales of $237,990,000 compared to $211,547,000 a year ago. Operating income was $30,339,000 compared to $39,926,000 a year ago. Income before income tax expense was $18,299,000 compared to $29,013,000 a year ago. Net income was $11,454,000 compared to $18,792,000 a year ago. Diluted earnings per share was $0.21 compared to $0.35 a year ago. EBITDA was $36,990,000 compared to $47,001,000 a year ago. Adjusted EBITDA was $52,136,000 compared to $50,000,000 a year ago. Net cash provided by operating activities was $38,437,000 compared to $46,017,000 a year ago. Adjusted net income was $21,178,000 compared to $20,720,000 a year ago. Adjusted diluted earnings per share was $0.39 compared to $0.39 a year ago.
For the year, the company reported net sales of $848,017,000 compared to $724,973,000 a year ago. Operating income was $116,098,000 compared to $153,996,000 a year ago. Income before income tax expense was $63,777,000 compared to $80,892,000 a year ago. Net income was $40,956,000 compared to $52,343,000 a year ago. Diluted earnings per share was $0.76 compared to $0.98 a year ago. EBITDA was $143,532,000 compared to $178,073,000 a year ago. Adjusted EBITDA was $194,128,000 compared to $184,005,000 a year ago. Net cash provided by operating activities was $99,126,000 compared to $114,910,000 a year ago. Adjusted net income was $77,128,000 compared to $76,277,000 a year ago. Adjusted diluted earnings per share was $1.44 compared to $1.43 a year ago.
Adjusted EBITDA for full-year 2015 is expected to be approximately $196.0 million to $202.0 million, adjusted diluted earnings per share is expected to be $1.48 to $1.55 and net sales is expected to be approximately $860.0 million to $880.0 million. The company is looking at CapEx between $16 million and $18 million and cash interest expense about $42.5 million.