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![B&G Foods, Inc. [BGS] reports annual net loss of $66,198,000.0](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FBGS.png&w=1200&q=75)
B&G Foods, Inc. [BGS] has reported a net loss of $66,198,000.0 for year ended Dec 30, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $2.1 billion
Based in PARSIPPANY, New Jersey, B&G Foods, Inc. operates in the MANUFACTURING sector.
In the Consolidated Statements of Operations for the period ending December 30, 2023, the following key financial figures were reported and compared with the previous year's numbers:
- Net sales for the current period totaled $2,062 million, showing a slight decrease from the same period last year when it was $2,163 million.
- Cost of goods sold for the current period amounted to $1,607 million, lower than the previous year's figure of $1,753 million.
- Gross profit for the period was $456 million, an improvement from the previous year's $410 million.
In terms of operating income and expenses:
- Operating income for the current period was $80 million, a decline from the previous year's figure of $99 million.
- Interest expenses increased to $151 million from $125 million in the same period last year.
Regarding net income and earnings per share:
- The company reported a net loss of $66 million for the current period, compared to a net loss of $11 million in the previous year.
- The basic and diluted loss per share for the current period were both $0.89, deteriorating from the previous year's loss per share of $0.16.
Overall, the company experienced a decrease in net sales and gross profit, with higher operating expenses and a notable increase in interest expenses, leading to a higher net loss compared to the previous year. The loss per share also worsened in both basic and diluted forms.
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