B&G Foods Q2 sales miss estimates on divestitures, lower base business volumes

B&G Foods

11/08/2026 21:17

Overview
US packaged foods maker's Q2 sales fell 9.7% and missed analyst expectations
Adjusted EPS for Q2 missed analyst consensus
Adjusted EBITDA for Q2 slightly missed analyst expectations

Outlook
B&G Foods reaffirms 2026 net sales guidance at $1.735 bln to $1.775 bln
Company maintains 2026 adj EBITDA forecast at $275 mln to $290 mln
B&G Foods keeps 2026 adj diluted EPS guidance at $0.575 to $0.675

Result Drivers
DIVESTITURES IMPACT - Co said net sales decline was primarily due to divestitures of Green Giant U.S. frozen, Le Sueur U.S., and Don Pepino businesses, as well as lower base business volumes
ACQUISITIONS AND CONTRACTS - Net sales were partially offset by contributions from the Green Giant U.S. frozen co-manufacturing agreement and the College Inn and Kitchen Basics brands
GROSS MARGIN IMPROVEMENT - Gross margin as a percentage of net sales increased due to acquisition of higher margin brands, divestiture of lower margin business, and tariff refunds

Company press release: ID:nBw2gLXHna

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Sales
Miss
$383.30 mln
$395.95 mln (3 Analysts)
Q2 Adjusted EPS
Miss
$0.06
$0.07 (4 Analysts)
Q2 Loss Per Share
 
$0.05
 
Q2 Adjusted Net Income
Beat
$4.90 mln
$4.80 mln (2 Analysts)
Q2 Adjusted EBITDA
Slight Miss*
$60.40 mln
$60.56 mln (3 Analysts)
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the food processing peer group is "buy."
Wall Street's median 12-month price target for B&G Foods Inc is $5.00, about 47.1% above its August 10 closing price of $3.40
The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 9 three months ago

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)