Bridgford Foods (BRID) Q1 2025 earnings summary

Executive summary

• Q1 FY2025 net sales fell 4.2% YoY to $52,545 thousand; net loss was $1,113 thousand versus net income of $1,235 thousand a year earlier.

• Lower Snack Food Products volume and sharply reduced gross margin drove the loss; Frozen Food Products posted higher sales and positive operating income.

Financial highlights

• Net sales were $52,545 thousand, down 4.2% YoY; cost of products sold rose 2.2% to $39,660 thousand.

• Gross margin declined to $12,885 thousand from $16,038 thousand; SG&A decreased 0.8% to $14,913 thousand.

• Operating loss was $2,012 thousand versus operating income of $1,011 thousand; net loss was $1,113 thousand and basic EPS was $(0.12), versus $0.14.

• Tax benefit was $453 thousand, compared with tax expense of $510 thousand in the prior-year quarter.

Outlook and guidance

• Inflation-related labor, freight and material costs are expected to continue through the remainder of FY2025; higher costs may not be offset promptly or fully by price increases.

• Management expects operating cash generation to support at least 12 months of liquidity, while monitoring inflation and interest-rate volatility and considering further liquidity measures if needed.

• Discussions with prospective counterparties on private-label arrangements aim to lift sales volume; sourcing bids are being sought to increase vendor competition while preserving input quality.