NYSE$BGS
B&G Foods Inc. · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Net sales increased and pricing actions covered a significant portion of inflationary cost increases.
B&G Foods reported a 2.6% increase in net sales for Q3 2022, driven by pricing actions that covered roughly 80% of commodity and cost inflation. Margins improved from the previous quarter, and the company is on track for a solid fourth quarter.
- Net sales increased by 2.6% to $528.4 million.
- Base business net sales increased by 2.5% to $527.5 million.
- Pricing actions continued to catch up to inflationary cost increases.
- Margins improved from the second quarter.
Headline financials
Revenue & EPS history
B&G Foods · Revenue · Quarterly
$528M
Forward guidance
B&G Foods reaffirmed its net sales guidance for full year fiscal 2022 at a range of $2.10 billion to $2.14 billion. B&G Foods revised its full year fiscal 2022 adjusted EBITDA guidance to a range of $290 million to $300 million, and adjusted diluted earnings per share to a range of $0.90 to $1.00.
Tailwinds
- Strong consumer demand for products.
- Revenue enhancing activities including price increases
- Cost savings initiatives
- Net sales guidance for full year fiscal 2022 reaffirmed at a range of $2.10 billion to $2.14 billion.
- Adjusted EBITDA guidance revised to a range of $290 million to $300 million.
Headwinds
- Significant cost inflation for inputs (ingredients, packaging, transportation, labor) due to COVID-19, war in Ukraine, climate, supply chain disruptions, and labor shortages.
- Management is not able to fully estimate the impact COVID-19, industry-wide supply chain disruptions, cost inflation and the Company’s cost inflation mitigation efforts will have on the Company’s results for the remainder of fiscal 2022 and beyond.
- The ultimate impact of the COVID-19 pandemic on the Company’s business will depend on many factors.
- Ability to continue to operate manufacturing facilities, maintain its supply chain without material disruption, procure ingredients, packaging and other raw materials when needed.
- Macroeconomic conditions resulting from the pandemic and the pace of the subsequent recovery may impact consumer eating and shopping habits.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2022
+0.1%
Avg return
Earnings day
-0.5%
Avg return
5 days after
-0.4%
Avg return
30 days after
43%
27 / 63 earnings
Positive
+29.2%
Q4 2022
Best reaction
-27.0%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -13.1% | -18.8% | -20.0% | |
| Q4 2026 | +16.4% | +10.5% | -1.6% | |
| Q3 2026 | +0.8% | +16.8% | +15.3% | |
| Q1 2025 | -5.5% | -8.9% | -7.8% | |
| Q4 2024 | +2.9% | -2.8% | -2.9% | |
| Q3 2024 | -18.4% | -25.1% | -23.6% | |
| Q2 2024 | +0.7% | -1.6% | +4.3% | |
| Q1 2024 | -27.0% | -24.4% | -17.5% | |
| Q4 2023 | +21.7% | +27.1% | +22.1% | |
| Q3 2023 | -1.9% | -9.4% | +14.3% | |
| Q2 2023 | +11.2% | +0.4% | -3.6% | |
| Q1 2023 | -3.7% | -4.9% | -15.8% | |
| Q4 2022 | +29.2% | +26.0% | +21.5% | |
| Q3 2022 | -0.6% | -10.9% | -17.8% | |
| Q2 2022 | -7.4% | -10.3% | -19.0% | |
| Q1 2022 | -12.7% | -14.6% | -20.2% | |
| Q4 2021 | -1.0% | -1.2% | -8.9% | |
| Q3 2021 | -0.1% | -0.6% | -9.4% | |
| Q2 2021 | +3.9% | +8.3% | +9.0% | |
| Q1 2021 | -1.5% | +3.2% | +12.6% | |
| Q3 2020 | +2.3% | -4.0% | -1.4% | |
| Q2 2020 | +4.4% | +6.6% | +13.3% | |
| Q1 2020 | +6.5% | +6.3% | +23.0% | |
| Q4 2019 | +20.3% | +13.1% | +27.9% | |
| Q3 2019 | +3.8% | +12.3% | +7.6% | |
| Q2 2019 | +9.2% | +9.2% | -7.4% | |
| Q1 2019 | -11.0% | -14.5% | -14.0% | |
| Q4 2018 | -0.9% | +2.0% | -0.6% | |
| Q3 2018 | -2.4% | +1.1% | +14.5% | |
| Q2 2018 | -1.6% | -1.9% | +0.9% | |
| Q1 2018 | +12.6% | +17.4% | +27.8% | |
| Q4 2017 | -13.4% | -7.8% | -25.9% | |
| Q3 2017 | +10.5% | +3.5% | +19.3% | |
| Q2 2017 | -8.9% | -10.8% | -11.8% | |
| Q1 2017 | -1.0% | +0.2% | -0.5% | |
| Q4 2016 | -8.2% | -10.6% | -14.5% | |
| Q3 2016 | -6.6% | -10.6% | -8.9% | |
| Q2 2016 | +13.7% | +11.7% | +3.8% | |
| Q1 2016 | +22.6% | — | — | |
| Q4 2015 | -7.6% | — | — | |
| Q3 2015 | -1.6% | — | — | |
| Q2 2015 | +1.3% | — | — | |
| Q1 2015 | +7.0% | — | — | |
| Q4 2014 | -4.2% | — | — | |
| Q3 2014 | -6.2% | — | — | |
| Q2 2014 | -5.7% | — | — | |
| Q1 2014 | -3.5% | — | — | |
| Q4 2013 | -8.4% | — | — | |
| Q3 2013 | -3.8% | — | — | |
| Q2 2013 | -4.1% | — | — | |
| Q1 2013 | +7.6% | — | — | |
| Q4 2012 | -6.8% | — | — | |
| Q3 2012 | -0.6% | — | — | |
| Q2 2012 | +2.9% | — | — | |
| Q1 2012 | +3.1% | — | — | |
| Q4 2010 | -0.9% | — | — | |
| Q4 2011 | -0.9% | — | — | |
| Q3 2011 | +1.4% | — | — | |
| Q1 2011 | -10.7% | — | — | |
| Q2 2011 | -10.7% | — | — | |
| Q3 2010 | +6.9% | — | — | |
| Q2 2010 | +2.4% | — | — | |
| Q1 2010 | +1.4% | — | — |
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