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B&G Foods (BGS) investor relations material
B&G Foods Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary5 Nov, 2025
Executive summary
Q3 2025 net sales declined 4.7% year-over-year to $439.3 million, with a net loss of $19.1 million due to significant non-cash impairment charges and divestitures, despite stable adjusted EBITDA of $70.4 million.
Adjusted net income rose to $11.7 million ($0.15 per share), while operating income fell 78.5% to $11.0 million.
Portfolio reshaping continued with divestitures of Don Pepino, Sclafani, Le Sueur, and the pending sale of Green Giant Canada.
Significant non-cash impairment charges included $26.0 million for Victoria and McCann's brands and $27.8 million for Green Giant Canada assets held for sale.
$10 million cost savings initiative implemented in the second half of 2025.
Financial highlights
Net sales for Q3 2025 were $439.3 million, down 4.7% year-over-year; YTD net sales fell 6.6% to $1.29 billion.
Adjusted EBITDA was $70.4 million (16% of net sales), flat year-over-year; YTD adjusted EBITDA was $187.5 million, down from $209.3 million in 2024.
Gross profit margin for Q3 2025 was 22.5%, up from 22.2% in Q3 2024; adjusted gross profit at $98.8 million.
Adjusted diluted EPS for Q3 2025 was $0.15, up 15.4% year-over-year; for the first three quarters, it was $0.23, down 41%.
Net interest expense fell by $4.9 million to $37.3 million, down 11.5% due to lower average debt and rates.
Outlook and guidance
FY2025 net sales guidance narrowed to $1.82–$1.84 billion; adjusted EBITDA guidance set at $273–$280 million; adjusted EPS guidance is $0.50–$0.58.
53rd week in Q4 expected to add 2–3% sales growth.
Management expects continued elevated raw material and freight costs through 2025 and 2026, with ongoing efforts to offset inflation.
Further portfolio reshaping is anticipated, including potential additional divestitures in the Frozen & Vegetables segment, possibly resulting in $125M–$175M in additional non-cash losses.
Leverage ratio targeted to fall to 6x by mid-2026, with a long-term goal of 4.5–5.5x.
Net financial impact of recent divestitures?
What drives recurring brand intangible impairments?
What is the unquantified tariff risk to guidance?
Green Giant Canada's minimal EBITDA impact on portfolio strategy?
Tariff impact on Spices & Flavor Solutions EBITDA?
Unmeasured channels' contribution to base sales?
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Q4 202527 Feb, 2026
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Frequently asked questions
B&G Foods, Inc. manufactures, sells, and distributes a portfolio of shelf-stable and frozen foods, and household products in the United States, Canada, and Puerto Rico. The Company's product portfolio includes food items such as canned vegetables under the Vito's brand name; pizzas under the Pizza Huts and Tony Boloney's brands; canned soups under the Chef Boyardee brand name; sauces under the Bertolli brand name; gravies and dressings under the Hungry Man brand name; frozen appetizers under the Pillsbury brand name; vegetables and features under the Green Giant Fresh brand name; frozen pastries under the Pillsbury brand name; ice cream novelty cones under the Krumbopps brand name; and desserts under the Pillsbury brand name.
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