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B&G Foods ( (BGS) ) just unveiled an update.
B&G Foods, Inc. reported a decrease in net sales for the third quarter of 2024, down 8.3% to $461.1 million, primarily due to divesting the Green Giant U.S. shelf-stable line and reduced unit volume. Despite improved net pricing, the company faced challenges from foreign currency impacts and higher interest expenses, resulting in a net income of $7.5 million compared to a loss in the previous year. Adjusted EBITDA fell by 12.5%, highlighting ongoing recovery challenges in the packaged food industry.
For a thorough assessment of BGS stock, go to TipRanks’ Stock Analysis page.
