$BGS

B&G Foods, Inc.

CIK:0001278027|SEC Filings

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2026	Jun. 28, 2025	Jul. 04, 2026	Jun. 28, 2025
Consolidated Statements of Operations
Net sales	$ 383,275	$ 424,425	$ 792,211	$ 849,827
Cost of goods sold	303,640	337,443	632,687	672,758
Gross profit	79,635	86,982	159,524	177,069
Operating expenses:
Selling, general and administrative expenses	40,588	47,198	90,778	96,330
Amortization expense	4,466	5,109	8,842	10,218
Loss on sales of assets		12,646	36,282	12,646
Operating income	34,581	22,029	23,622	57,875
Other expenses (income):
Interest expense, net	38,480	35,780	74,302	73,538
Other income	(1,531)	(1,201)	(3,037)	(2,348)
Loss before income tax benefit	(2,368)	(12,550)	(47,643)	(13,315)
Income tax expense (benefit)	1,613	(2,778)	(11,118)	(4,378)
Net loss	$ (3,981)	$ (9,772)	$ (36,525)	$ (8,937)
Weighted average shares outstanding:
Basic (in shares)	81,167,537	79,857,966	80,685,361	79,515,447
Diluted (in shares)	81,167,537	79,857,966	80,685,361	79,515,447
Loss per share:
Basic (in dollars per share)	$ (0.05)	$ (0.12)	$ (0.45)	$ (0.11)
Diluted (in dollars per share)	(0.05)	(0.12)	(0.45)	(0.11)
Cash dividends declared per share	$ 0.095	$ 0.19	$ 0.285	$ 0.38

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jul. 04, 2026	Apr. 04, 2026	Jun. 28, 2025	Jul. 04, 2026	Jun. 28, 2025	Jan. 03, 2026
Cash flows from operating activities:
Net loss				$ (36,525)	$ (8,937)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	$ 14,545		$ 16,716	29,505	33,554
Amortization of operating lease right-of-use assets	4,083		4,988	9,579	9,937
Amortization of deferred debt financing costs and bond discount				3,157	3,155
Deferred income taxes				(6,924)	(18,503)
Impairment of property, plant and equipment				172	2,994
Loss on sales and disposals of property, plant and equipment			22	5,612	903
Loss on sales of assets			12,646	36,282	12,646
Gain on extinguishment of debt	0	$ 0			(2,073)
Share-based compensation expense				5,778	6,554
Changes in assets and liabilities:
Trade accounts receivable				7,034	32,385
Inventories				(21,352)	(25,991)
Prepaid expenses and other current assets				17,495	3,757
Income tax receivable/payable, net				(5,955)	9,459
Other assets				1,555	(1,624)
Trade accounts payable				17,369	37,625
Accrued expenses				(3,747)	(24,407)
Other liabilities				(1,018)	(866)
Net cash provided by operating activities				58,017	70,568
Cash flows from investing activities:
Capital expenditures				(11,052)	(16,756)
Proceeds from sales of assets and property, plant and equipment				61,389	10,811
Payments for acquisition of businesses, net of cash acquired				(109,655)
Net cash used in investing activities				(59,318)	(5,945)
Cash flows from financing activities:
Redemptions and repurchases of senior notes					(18,617)
Proceeds from issuance of senior secured notes				475,000
Repayments of borrowings under term loan facility				(2,250)	(2,250)
Repayments of borrowings under revolving credit facility				(40,000)	(75,000)
Borrowings under revolving credit facility				155,000	65,000
Dividends paid				(30,619)	(30,199)
Payments of tax withholding on behalf of employees for net share settlement of share-based compensation				(2,501)	(737)
Payments of debt financing costs				(17,657)
Net cash provided by (used in) financing activities				536,973	(61,803)
Effect of exchange rate fluctuations on cash and cash equivalents				(389)	681
Net increase in cash and cash equivalents				535,283	3,501
Cash and cash equivalents at beginning of period		$ 56,293		56,293	50,583	$ 50,583
Cash and cash equivalents at end of period	591,576		54,084	591,576	54,084	$ 56,293
Supplemental disclosures of cash flow information:
Cash interest payments				67,417	72,977
Cash income tax payments, net of refunds				1,758	5,052
Non-cash investing and financing transactions:
Dividends declared and not yet paid	$ 7,722		$ 15,203	7,722	15,203
Accruals related to purchases of property, plant and equipment				1,680	1,938
Right-of-use assets obtained in exchange for new operating lease liabilities				$ 20,376	$ 914

Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 04, 2026	Jan. 03, 2026
Current assets:
Cash and cash equivalents	$ 591,576	$ 56,293
Trade accounts receivable, net	133,278	140,699
Inventories	391,368	420,766
Assets held for sale	31,673	51,343
Prepaid expenses and other current assets	35,462	53,380
Income tax receivable	23,714	17,337
Total current assets	1,207,071	739,818
Property, plant and equipment, net of accumulated depreciation of $472,766 and $484,809 as of July 4, 2026 and January 3, 2026, respectively	228,938	253,433
Operating lease right-of-use assets	50,273	50,983
Goodwill	548,965	543,812
Other intangible assets, net	1,269,876	1,190,974
Other assets	44,307	45,890
Deferred income taxes	10,138	9,885
Total assets	3,359,568	2,834,795
Current liabilities:
Trade accounts payable	124,769	107,669
Accrued expenses	84,763	78,436
Current portion of operating lease liabilities	15,207	16,697
Current portion of long-term debt	513,810	4,500
Income tax payable	726	343
Dividends payable	7,722	15,196
Total current liabilities	746,997	222,841
Long-term debt, net of current portion	2,008,471	1,945,576
Deferred income taxes	160,812	167,951
Long-term operating lease liabilities, net of current portion	37,726	34,636
Other liabilities	10,496	10,866
Total liabilities	2,964,502	2,381,870
Commitments and contingencies (Note 13)
Stockholders' equity:
Preferred stock, $0.01 par value per share. Authorized 1,000,000 shares; no shares issued or outstanding
Common stock, $0.01 par value per share. Authorized 125,000,000 shares; 81,276,895 and 79,977,050 shares issued and outstanding as of July 4, 2026 and January 3, 2026, respectively	813	800
Additional paid-in capital
Accumulated other comprehensive income	13,077	15,045
Retained earnings	381,176	437,080
Total stockholders' equity	395,066	452,925
Total liabilities and stockholders' equity	$ 3,359,568	$ 2,834,795