B&G Foods Inc

B&G Foods delivered a mixed second quarter for fiscal 2026, posting adjusted diluted EPS of $0.06, edging past the $0.06 consensus estimate by 6.76%, even as net sales of $383.27 million fell short of the $394.90 million analysts had expected and declined 9.7% year-over-year. The revenue shortfall was largely structural, reflecting the March 2026 divestiture of the Green Giant U.S. frozen business, which had contributed $58.30 million in the prior-year quarter, with partial offsets from a new co-manufacturing agreement and the College Inn and Kitchen Basics acquisition completed the same month. Beneath the headline miss, profitability improved meaningfully, with adjusted EBITDA rising to $60.40 million and the adjusted EBITDA margin expanding to 15.8% from 13.7%, as the higher-margin acquired brands and cost discipline helped lift results. The quarter also coincided with a CEO transition, as the company named a new chief executive to navigate ongoing volume pressures across its base portfolio. B&G reaffirmed full-year 2026 guidance, targeting net sales of $1.74 billion to $1.77 billion and adjusted diluted EPS of $0.57 to $0.68.