B&G Foods (BGS) Misses Q1 EPS by 3c, Revenues Miss; Reaffirms FY21 Revenues Outlook
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B&G Foods Reports Strong Net Sales for First Quarter 2021
May 11, 2021 4:05 PM EDTNet Sales Increased 12.4% for First Quarter 2021
PARSIPPANY, N.J.--(BUSINESS WIRE)-- B&G Foods, Inc. (NYSE: BGS) today announced financial results for the first quarter of 2021.
Executive Summary (vs. First Quarter of 2020 where applicable):
Net sales increased 12.4% to $505.1 million, driven by the Crisco acquisition and continued strong base business net sales Diluted earnings per share decreased 6.8% to $0.41 Adjusted diluted earnings per share1 increased 13.0% to $0.52 Net income decreased 4.3% to $26.9 million Adjusted net income1 increased 16.7% to $34.1 million Adjusted EBITDA1 increased 15.2%... More