The earnings call presented a mixed outlook. While the company showed improvements in adjusted EBITDA and benefited from cost-saving initiatives, it faced challenges with declining net sales and the impact of divestitures. The ongoing tariff issues also posed a significant challenge. However, the progress in divestiture strategy and growth in the Spices & Seasonings segment are positive signs.

Company Guidance

During the B&G Foods, Inc. Third Quarter 2025 Financial Results Conference Call, the company provided updated guidance for fiscal year 2025, projecting net sales between $1.82 billion and $1.84 billion and adjusted EBITDA of $273 million to $280 million. The adjusted EBITDA as a percentage of net sales is expected to approach 20%, with a focus on improving cash flow generation and reducing the leverage ratio to 6x within the next 9 months. The company anticipates a 53rd week sales growth impact of 2% to 3% in the fourth quarter. Despite a 4.7% decrease in net sales in Q3, base business net sales excluding divestitures decreased by 2.7%. Cost efficiency initiatives are expected to yield $15 million to $20 million in annual savings. The company aims to improve base business net sales trends towards 1% growth and plans to reduce leverage to approximately 6x by mid-2026 through strategic divestitures and cash flow improvements.

Improved Adjusted EBITDA Performance

The third quarter demonstrated significant improvement in adjusted EBITDA delivery with sequential improvement in base business net sales trends. Adjusted EBITDA was $70.4 million, flat versus last year on a reported basis, but up year-over-year excluding the impact of divestitures.

Cost Savings Initiatives

The company benefited from a $10 million cost savings initiative, with SG&A overhead down $2 million from last year and cost of goods sold improved by 40 basis points versus last year.

Divestiture Strategy Progress

B&G Foods announced the divestiture of their Canadian Green Giant business and continued to evaluate the divestiture of their Green Giant U.S. frozen business. These divestitures are expected to create a more focused B&G Foods with increased cash flow generation and a lower leverage ratio.

Spices & Seasonings Growth

The Spices & Seasonings business unit grew net sales by 2.1% in Q3, benefiting from growth in fresh food and proteins and strength in the club and foodservice channels.

B&G Foods (DE:DHR) Earnings, Revenues Date & History

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DE:DHR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 03, 2026	2025 (Q4)	0.27 / -	0.269	―	―	―
Nov 05, 2025	2025 (Q3)	0.10 / 0.13	0.113	15.38% (+0.02)	―
Aug 04, 2025	2025 (Q2)	0.05 / 0.03	0.07	-50.00% (-0.03)	―
May 07, 2025	2025 (Q1)	0.12 / 0.03	0.156	-77.78% (-0.12)	―
Feb 25, 2025	2024 (Q4)	0.26 / 0.27	0.261	3.33% (<+0.01)	―
Nov 05, 2024	2024 (Q3)	0.17 / 0.11	0.235	-51.85% (-0.12)	―
Aug 06, 2024	2024 (Q2)	0.08 / 0.07	0.13	-46.67% (-0.06)	―
May 08, 2024	2024 (Q1)	0.18 / 0.16	0.235	-33.33% (-0.08)	―
Feb 27, 2024	2023 (Q4)	0.25 / 0.26	0.348	-25.00% (-0.09)	―
Nov 08, 2023	2023 (Q3)	0.20 / 0.23	0.269	-12.90% (-0.03)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

DE:DHR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 04, 2025	€3.48	€3.35	-3.57%
May 07, 2025	€5.18	€3.63	-29.91%
Feb 25, 2025	€5.64	€5.79	+2.62%
Nov 05, 2024	€6.81	€5.69	-16.44%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.