B&G Foods Updates EPS Guidance to Reflect Common Stock Offering
March 15 2016 - 4:40PM
Business Wire
B&G Foods, Inc. (NYSE:BGS) announced today that it has
revised its financial guidance for fiscal 2016 to reflect the
impact of the common stock offering completed by the Company today.
As a result of an additional 4.6 million shares of common stock
outstanding following the offering, the Company revised its
adjusted diluted earnings per share guidance from a range of $1.98
to $2.09 to a range of $1.90 to $2.00. There is no change to the
Company’s net sales guidance of $1.38 billion to $1.42 billion and
adjusted EBITDA guidance of $294.0 million to $304.0 million for
fiscal 2016.
About B&G Foods, Inc.
B&G Foods and its subsidiaries manufacture, sell and
distribute a diversified portfolio of high-quality, branded
shelf-stable and frozen foods across the United States, Canada and
Puerto Rico. Based in Parsippany, New Jersey, B&G Foods’
products are marketed under many recognized brands, including
Ac’cent, B&G, B&M, Baker’s Joy, Bear Creek Country
Kitchens, Brer Rabbit, Canoleo, Cary’s, Cream of Rice,
Cream of Wheat, Devonsheer, Don Pepino, Emeril’s,
Grandma’s Molasses, Green Giant, JJ Flats, Joan of Arc,
Las Palmas, Le Sueur, MacDonald’s, Mama Mary’s, Maple Grove
Farms, Molly McButter, Mrs. Dash,
New York Flatbreads, New York Style, Old London,
Original Tings, Ortega, Pirate’s Booty, Polaner, Red Devil,
Regina, Rickland Orchards, Sa-són, Sclafani, Smart Puffs,
Spring Tree, Sugar Twin, Trappey’s, TrueNorth, Underwood,
Vermont Maid and Wright’s. B&G Foods also sells and distributes
Static Guard, a household product brand.
Forward-Looking Statements
Statements in this press release that are not statements of
historical or current fact constitute “forward-looking statements.”
The forward-looking statements contained in this press release
include without limitation statements related to net sales,
adjusted EBITDA and adjusted diluted earnings per share
expectations for fiscal 2016. Such forward-looking statements
involve known and unknown risks, uncertainties and other unknown
factors that could cause the actual results of B&G Foods to be
materially different from the historical results or from any future
results expressed or implied by such forward-looking statements. In
addition to statements that explicitly describe such risks and
uncertainties readers are urged to consider statements labeled with
the terms “believes,” “belief,” “expects,” “projects,” “intends,”
“anticipates” or “plans” to be uncertain and forward-looking. The
forward-looking statements contained herein are also subject
generally to other risks and uncertainties that are described from
time to time in B&G Foods’ filings with the Securities and
Exchange Commission, including under Item 1A, “Risk Factors” in the
Company’s most recent Annual Report on Form 10-K and in its
subsequent reports, if any, on Forms 10-Q and 8-K. Investors are
cautioned not to place undue reliance on any such forward looking
statements, which speak only as of the date they are made. B&G
Foods undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
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