$BRID

BRIDGFORD FOODS CORP

CIK:0000014177|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		8 Months Ended
	Jul. 10, 2026	Jul. 11, 2025	Jul. 10, 2026	Jul. 11, 2025
Income Statement [Abstract]
Net sales	$ 47,015	$ 51,954	$ 152,371	$ 155,138
Cost of products sold	36,153	41,325	119,359	120,553
Gross margin	10,862	10,629	33,012	34,585
Selling, general and administrative expenses	14,194	14,608	43,459	43,806
Gain on sale of property, plant, and equipment	(23)	(123)	(61)	(167)
Operating loss	(3,309)	(3,856)	(10,386)	(9,054)
Other income (expense)
Interest (expense) income	(66)	(102)	(450)	(284)
Cash surrender value (loss) gain	621	1,406	880	445
Total other  income (expense)	555	1,304	430	161
Loss before taxes	(2,754)	(2,552)	(9,956)	(8,893)
Benefit on income taxes	(746)	(915)	(2,181)	(2,283)
Net loss	$ (2,008)	$ (1,637)	$ (7,775)	$ (6,610)
Basic net loss per share	$ (0.22)	$ (0.18)	$ (0.86)	$ (0.73)
Diluted net loss per share	$ (0.22)	$ (0.18)	$ (0.86)	$ (0.73)
Basic weighted average shares of common stock	9,076,832	9,076,832	9,076,832	9,076,832
Diluted weighted average shares of common stock	9,076,832	9,076,832	9,076,832	9,076,832

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	8 Months Ended
	Jul. 10, 2026	Jul. 11, 2025
Cash flows from operating activities:
Net loss	$ (7,775)	$ (6,610)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization	4,245	4,459
(Reduction in) provision for credit losses on accounts receivable	(22)	313
Reduction in promotional allowances	(84)	(589)
Gain on sale of property, plant, and equipment	(61)	(167)
Deferred income taxes, net	(2,044)
Changes in operating assets and liabilities:
Accounts receivable, net	3,454	7,267
Inventories, net	1,106	(9,576)
Prepaid expenses and other current assets	(1,628)	(843)
Refundable income taxes	(28)	965
Other non-current assets	(736)	(2,298)
Accounts payable	161	1,638
Accrued payroll, advertising, and other expenses	390	1,415
Other current liabilities	(711)	(809)
Executive retirement plans and other non-current liabilities	(240)	(733)
Net cash used in operating activities	(3,973)	(5,568)
Cash flows from investing activities:
Proceeds from sale of property, plant, and equipment	61	151
Additions to property, plant, and equipment	(668)	(1,882)
Net cash used in investing activities	(607)	(1,731)
Cash flows from financing activities:
Change in lease and right-of-use obligations	(893)	(810)
Proceeds from borrowings	6,000	2,000
Repayments of equipment note payable	(1,070)	(718)
Net cash provided by financing activities	4,037	472
Net decrease in cash and cash equivalents	(543)	(6,827)
Cash and cash equivalents at beginning of period	876	10,230
Cash and cash equivalents at end of period	333	3,403
Supplemental disclosure of cash flow information:
Cash paid for income taxes	42	63
Cash paid for interest	469	284
Non-cash receivable from tenant	544	736
Non-cash liability from tenant	$ 574	$ 764

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 10, 2026	Oct. 31, 2025
Current assets:
Cash and cash equivalents	$ 333	$ 876
Accounts receivable, less allowance for credit losses of $105 and $50, and promotional allowances of $1,819 and $1,903	20,785	24,133
Inventories, net	35,966	37,072
Refundable income taxes	652	624
Prepaid expenses and other current assets	2,536	908
Total current assets	60,272	63,613
Property, plant and equipment, net of accumulated depreciation and amortization of $85,889 and $82,041	58,210	61,787
Other non-current assets	22,550	21,814
Total assets	141,032	147,214
Current liabilities:
Accounts payable	8,944	8,783
Accrued payroll, advertising, and other expenses	7,214	6,825
Income taxes payable	294	294
Current notes payable - equipment	1,548	1,121
Current right-of-use leases payable	885	1,182
Revolving credit facility	6,000	2,000
Other current liabilities	420	1,131
Total current liabilities	25,305	21,336
Long-term notes payable - equipment	1,177	673
Deferred income taxes, net	984	3,028
Long-term right-of-use leases payable	377	959
Executive retirement plans and other non-current liabilities	5,418	5,672
Total long-term liabilities	7,956	10,332
Total liabilities	33,261	31,668
Contingencies and commitments (Note 3)
Shareholders’ equity:
Preferred stock, without par value; authorized – 1,000,000 shares; issued and outstanding – none
Common stock, $1.00 par value; authorized – 20,000,000 shares; issued and outstanding – 9,076,832 shares	9,134	9,134
Capital in excess of par value	8,298	8,298
Retained earnings	98,277	106,052
Accumulated other comprehensive loss	(7,938)	(7,938)
Total shareholders’ equity	107,771	115,546
Total liabilities and shareholders’ equity	$ 141,032	$ 147,214