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Last $29.27 USD
Change Today +0.28 / 0.97%
Volume 312.2K
BGS On Other Exchanges
Symbol
Exchange
Berlin
New York
As of 8:04 PM 07/28/15 All times are local (Market data is delayed by at least 15 minutes).

b&g foods inc (BGS) Key Developments

B&G Foods Inc Increases Quarterly Dividend Payable on October 30, 2015

B&G Foods Inc. announced that its Board of Directors has increased quarterly cash dividend rate by 2.9% from $0.34 per share of common stock to $0.35 per share of common stock. The quarterly dividend declared is payable on October 30, 2015 to shareholders of record as of September 30, 2015.

B&G Foods Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended July 4, 2015; Revises Earnings Guidance for the Fiscal 2015

B&G Foods Inc. announced unaudited consolidated earnings results for the second quarter and six months ended July 4, 2015. For the quarter, the company's net sales were $193.6 million compared with $202.9 million a year ago. Operating income was $40.1 million compared with $42.6 million a year ago. Income before income tax expense was $29.1 million compared with $25.0 million a year ago. Net income was $18.7 million or $0.33 per basic and diluted share compared with $16.1 million or $0.30 per basic and diluted share a year ago. EBITDA was $46.97 million compared with $49.6 million a year ago. Adjusted EBITDA was $47.4 million compared with $46.1 million a year ago. Net cash provided by operating activities was $18.9 million compared with $5.1 million a year ago. Adjusted net income was $19.0 million or $0.34 per diluted share compared with $17.5 million or $0.33 per diluted share a year ago. For the six months, the company's net sales were $410.8 million compared with $401.0 million a year ago. Net sales were negatively impacted by the Rickland Orchards brand, whose net sales decreased by $13.7 million compared to the first two quarters of 2014, a continuation of the weakness that caused the company to impair the brand’s trademark and customer relationship intangible assets in 2014. Operating income was $82.0 million compared with $81.4 million a year ago. Income before income tax expense was $59.4 million compared with $52.7 million a year ago. Net income was $38.3 million or $0.69 per basic and diluted share compared with $33.9 million or $0.63 per basic and diluted share a year ago. EBITDA was $95.4 million compared with $95.4 million a year ago. Adjusted EBITDA was $97.3 million compared with $92.5 million a year ago. Net cash provided by operating activities was $57.6 million compared with $36.1 million a year ago. Adjusted net income was $39.6 million or $0.72 per diluted share compared with $35.8 million or $0.67 per diluted share a year ago. The company increased its adjusted EBITDA guidance for fiscal 2015 to a range of $199.0 million to $204.0 million and net sales guidance to a range of $875.0 million to $885.0 million. The company also decreased its adjusted diluted earnings per share guidance for fiscal 2015 to a range of $1.44 to $1.50, primarily due to an additional 4.2 million shares outstanding following the company’s second quarter 2015 public offering. The company expects tax rate around 35.5% for the rest of the year. The company expects interest expense in the range of $43 million to $45 million.

B&G Foods Inc. to Report Q2, 2015 Results on Jul 22, 2015

B&G Foods Inc. announced that they will report Q2, 2015 results at 4:30 PM, US Eastern Standard Time on Jul 22, 2015

B&G Foods Inc., Q2 2015 Earnings Call, Jul 22, 2015

B&G Foods Inc., Q2 2015 Earnings Call, Jul 22, 2015

B&G Foods, Inc. Announces it Will Expand its Pita Chip Offerings with the Launch of Two New Flavors

B&G Foods Inc. has announced that it will expand its pita chip offerings with the launch of two new flavors, Ancient Grains & Flaxseed and Chia Seeds & Quinoa, along with new recipes for its existing flavors, including Sea Salt, Parmesan Garlic and Herb, Red Hot Chili Pepper and Garden Fresh Ranch. All New York Style Pita Chips serve up robust flavor and the crunch consumers crave for an even better, more delicious snacking experience. The new pita chip flavors, made with hearty ingredients like whole wheat flour, amaranth, buckwheat and quinoa, have been thoughtfully crafted with the smart snacker in mind.

 

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Industry Analysis

BGS

Industry Average

Valuation BGS Industry Range
Price/Earnings 18.2x
Price/Sales 1.0x
Price/Book 1.9x
Price/Cash Flow 7.4x
TEV/Sales NM Not Meaningful
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