B&G Foods reports Q3 adjusted EPS 27c, consensus 23c

Reports Q3 revenue $502.7M, consensus $505.3M. Commenting on the results, Casey Keller, President and Chief Executive Officer of B&G Foods, stated, “Our third quarter results continued strong margin recovery, with adjusted EBITDA as a percentage of net sales increasing 80 basis points versus last year to 16.0%. Overall, we remain on track to deliver adjusted EBITDA within our previously issued guidance range of $310 to $330 million,” stated Casey Keller, President and Chief Executive Officer of B&G Foods. “Further, we announced today the divestiture and sale of our Green Giant U.S. canned vegetable product line to Seneca Foods, a critical step in our continuing efforts to reshape the B&G Foods portfolio for future focus and valuation growth.”