B&G Foods Restores Base Sales Growth and Lifts 2026 Outlook

The Tip Desk · November 10, 2026 · 4 min read

Third-quarter net sales reached $459.8 million and full-year sales guidance moved to as much as $1.800 billion.

B&G Foods (BGS), the Parsippany, N.J.-based packaged-foods company, reported third-quarter net sales of $459.8 million, a 4.7% increase that reversed a 9.7% decline in the second quarter.

Base business net sales rose 5.0% to $404.6 million, after a 2.9% decline in the prior quarter. The company said the year-over-year increase was driven by volume of $23.6 million, or 6.1% of base sales, partially offset by a $3.3 million decrease in net pricing and product mix and a $0.9 million foreign-currency drag.

The reported sales increase also reflected three months of College Inn and Kitchen Basics, acquired March 19, 2026, which contributed $29.0 million, and $26.3 million from the Green Giant U.S. frozen co-manufacturing agreement. Those additions were partly offset by the Green Giant U.S. frozen and Le Sueur U.S. businesses, which had contributed $51.8 million and $2.3 million in the year-ago quarter and were no longer in the company’s results.

Adjusted EBITDA was $81.8 million, or 17.8% of net sales, compared with $70.4 million, or 16.0%, a year earlier. Adjusted diluted earnings were $0.21 a share. The company attributed the adjusted-profit increase primarily to higher base sales, the College Inn and Kitchen Basics acquisition, the Green Giant U.S. frozen divestiture, the co-manufacturing start, and lower tariff expense, including certain U.S. government tariff refunds.

Gross profit was $108.9 million, or 23.7% of net sales, and adjusted gross profit was $111.2 million, or 24.2%. The company said the margin increase came primarily from the higher-margin College Inn and Kitchen Basics brands and the lower-margin Green Giant U.S. frozen sale. Gross profit and adjusted gross profit also rose in part from higher base sales and lower tariff expense, including certain U.S. government tariff refunds.

Selling, general and administrative expenses were $51.3 million, or 11.2% of net sales, up 1.0 percentage points from 10.2% a year earlier. The company said the increase included $7.9 million of acquisition/divestiture-related and non-recurring expenses, $0.6 million of consumer marketing and $0.3 million of warehousing, partly offset by lower selling and general-and-administrative costs.

The company recorded $40.7 million of pre-tax, non-cash trademark impairments for B&M and Joan of Arc in connection with the fourth-quarter 2026 divestiture of those brands, completed October 13, versus $26.0 million of Victoria and McCann’s impairments a year earlier. It also recorded an approximately $1.8 million gain on Green Giant Canada assets held for sale. Net interest expense was $44.8 million, which the company tied to higher average long-term debt, the 11.00% senior notes due 2031, and a $1.1 million loss on extinguishment versus a $0.5 million gain a year earlier.

The company reported a net loss of $32.5 million, or $0.40 a share, compared with a net loss of $19.1 million, or $0.24 a share, a year earlier.

Meals net sales were $140.6 million, including $29.0 million from College Inn and Kitchen Basics, with adjusted EBITDA of $29.8 million. Specialty net sales were $163.0 million on higher volumes, including institutional bulk vegetable oil, while Specialty adjusted EBITDA was $33.9 million; the company cited higher Crisco oil input costs and diesel-driven transportation costs. Frozen & Vegetables net sales were $54.5 million after the Green Giant U.S. frozen and Le Sueur U.S. divestitures, with adjusted EBITDA of $5.7 million.

Full-year 2026 net sales guidance was raised to $1.760 billion to $1.800 billion from the reaffirmed $1.735 billion to $1.775 billion range. Adjusted EBITDA guidance was raised to $280.0 million to $290.0 million from $275.0 million to $290.0 million. Adjusted diluted earnings guidance was reaffirmed at $0.575 to $0.675 a share.