Q3 Earnings Roundup: B&G Foods (NYSE:BGS) And The Rest Of The Shelf-Stable Food Segment

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Q3 Earnings Roundup: B&G Foods (NYSE:BGS) And The Rest Of The Shelf-Stable Food Segment

Looking back on shelf-stable food stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including B&G Foods (NYSE:BGS) and its peers.

As America industrialized and moved away from an agricultural economy, people faced more demands on their time. Packaged foods emerged as a solution offering convenience to the evolving American family, whether it be canned goods or snacks. Today, Americans seek brands that are high in quality, reliable, and reasonably priced. Furthermore, there's a growing emphasis on health-conscious and sustainable food options. Packaged food stocks are considered resilient investments. People always need to eat, so these companies can enjoy consistent demand as long as they stay on top of changing consumer preferences. The industry spans from multinational corporations to smaller specialized firms and is subject to food safety and labeling regulations.

The 19 shelf-stable food stocks we track reported a mixed Q3. As a group, revenues were in line with analysts’ consensus estimates while next quarter’s revenue guidance was 5.7% below.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

B&G Foods (NYSE:BGS)

Started as a small grocery store in New York City, B&G Foods (NYSE:BGS) is an American packaged foods company with a diverse portfolio of more than 50 brands.

B&G Foods reported revenues of $461.1 million, down 8.3% year on year. This print fell short of analysts’ expectations by 2.2%. Overall, it was a softer quarter for the company with a significant miss of analysts’ EBITDA and EPS estimates.

Commenting on the results, Casey Keller, President and Chief Executive Officer of B&G Foods, stated, “B&G Foods’ third quarter results reflected a slower than expected recovery in sales trends, consistent with the center store packaged food industry. We expect trends to gradually improve and stabilize into the first half of 2025 as we lap consumer reaction to higher prices across food categories.”

B&G Foods Total Revenue
B&G Foods Total Revenue

B&G Foods delivered the slowest revenue growth of the whole group. Unsurprisingly, the stock is down 22.4% since reporting and currently trades at $6.85.

Read our full report on B&G Foods here, it’s free.

Best Q3: BellRing Brands (NYSE:BRBR)

Spun out of Post Holdings in 2019, Bellring Brands (NYSE:BRBR) offers protein shakes, nutrition bars, and other products under the PowerBar, Premier Protein, and Dymatize brands.

BellRing Brands reported revenues of $555.8 million, up 17.6% year on year, outperforming analysts’ expectations by 2%. The business had a very strong quarter with full-year revenue guidance exceeding analysts’ expectations and a solid beat of analysts’ gross margin estimates.