B&G Foods ( (BGS) ) has shared an announcement.
B&G Foods reported a decrease in net sales for the fourth quarter and full year of 2024, primarily due to the divestiture of the Green Giant U.S. shelf-stable product line and reduced unit volume. The company faced a significant net loss in the fourth quarter of 2024, driven by substantial non-cash impairment charges related to intangible trademark assets. Despite these challenges, B&G Foods’ adjusted net income showed a slight increase compared to the previous year, and the company anticipates a gradual improvement in financial performance in the latter half of fiscal 2025.
More about B&G Foods
B&G Foods, Inc. operates in the packaged foods industry, focusing on the production and distribution of shelf-stable and frozen foods. The company is known for its diverse portfolio of brands, including Green Giant, Victoria, and Static Guard, and primarily serves the North American market.
YTD Price Performance: -5.47%
Average Trading Volume: 1,604,359
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $533.6M
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