B&G Foods

B&G Foods (BGS) Q3 2025 Earnings

Reported Nov 5, 2025 at 4:06 PM ET · SEC Source

Q3 25 EPS

$0.15

BEAT +35.62%

Est. $0.11

Q3 25 Revenue

$439.3M

BEAT +0.88%

Est. $435.5M

vs S&P Since Q3 25

-7.3%

TRAILING MARKET

BGS +5.3% vs S&P +12.6%

Market Reaction

Did BGS Beat Earnings? Q3 2025 Results

B&G Foods delivered a stronger-than-expected third quarter, with adjusted diluted EPS of $0.15 beating the $0.11 consensus by 35.62%, even as net sales slipped 4.7% year over year to $439.30 million, edging past the $435.47 million estimate. The head… Read more B&G Foods delivered a stronger-than-expected third quarter, with adjusted diluted EPS of $0.15 beating the $0.11 consensus by 35.62%, even as net sales slipped 4.7% year over year to $439.30 million, edging past the $435.47 million estimate. The headline GAAP results told a rougher story, with the company swinging to a net loss of $19.14 million driven by more than $50 million in non-cash impairment charges, including write-downs on Green Giant Canada assets held for sale and trademark impairments on the Victoria and McCann's brands. Beneath those charges, the operating picture was more stable: adjusted EBITDA held flat at $70.40 million while the adjusted EBITDA margin actually improved to 16.0% from 15.3%, reflecting ongoing cost discipline. Portfolio simplification remained a central theme, with the agreement to sell Green Giant's Canadian operations to Nortera Foods highlighting management's push to concentrate on core brands and reduce debt. Looking ahead, B&G narrowed its full-year fiscal 2025 guidance to net sales of $1.82 billion to $1.84 billion and adjusted diluted EPS of $0.50 to $0.58, while cautioning that tariff uncertainty remains a meaningful risk to the outlook.

Key Takeaways

  • Sequential improvement in base business net sales compared to first two quarters of 2025
  • Net pricing increases and product mix partially offset volume declines
  • Adjusted EBITDA margin expanded to 16.0% from 15.3% year-over-year
  • Net interest expense decreased 11.5% due to lower debt balances and lower variable rates
  • SG&A expenses decreased 3.0% driven by lower consumer marketing and warehousing costs
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BGS YoY Financials

Q3 2025 vs Q3 2024, source: SEC Filings

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BGS Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q1 26

“B&G Foods' third quarter results demonstrated significant improvement in adjusted EBITDA delivery and sequential improvement in base business net sales as compared to the first two quarters of 2025. Further, we announced in late October that we have reached an agreement to sell Green Giant Canada, another key divestiture to solidify the stability and strength of the core B&G Foods portfolio of brands.”

— Casey Keller, Q3 2025 Earnings Press Release