<\/p>\n
B&G Foods Reports Financial Results for Third Quarter 2026<\/b><\/p>\n
\u2014Delivers Growth in Net Sales and Base Business Net Sales\u2014<\/b><\/p>\n
PARSIPPANY, N.J.–(BUSINESS WIRE<\/a>)– Summary<\/b><\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Third Quarter of 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n First Three Quarters of 2026<\/b><\/p>\n<\/td>\n<\/tr>\n (In millions, except per share data)<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Change vs.<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Change vs.<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Amount<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Q3 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Amount<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n First 3Q 2025<\/b><\/p>\n<\/td>\n<\/tr>\n \nNet Sales<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n459.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4.7<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,252.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2.9)<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nBase Business Net Sales (1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n404.6<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5.0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,116.0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.8<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nDiluted EPS<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(0.40)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(66.7)<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(0.85)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(142.9)<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nAdj. Diluted EPS (1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.21<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n40.0<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.36<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n56.5<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nNet Loss<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(32.5)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(69.9)<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(69.0)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(145.9)<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nAdj. Net Income (1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n17.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n51.3<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n29.5<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n63.1<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n \nAdj. EBITDA (1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n81.8<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n16.2<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n199.9<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6.6<\/p>\n<\/td>\n \n%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Guidance for Full Year Fiscal 2026<\/b><\/p>\n \nCommenting on the results, Rob Mills, President and Chief Executive Officer of B&G Foods, stated, \u201cThird quarter and year-to-date results reflect encouraging progress across B&G Foods. We generated base business net sales growth of 5.0% in the third quarter and 1.8% year-to-date, while adjusted EBITDA increased $12.4 million, or 6.6%, year-to-date. We are encouraged by this progress and remain focused on building on it.\u201d<\/p>\n \n\u201cSince becoming CEO, I have spent considerable time engaging with our teams, reviewing our brands and operations, and identifying opportunities to strengthen performance. I have been impressed by the dedication of our employees, the strength of our brands and the potential across our portfolio. We are establishing a more focused and accountable operating approach, with an emphasis on profitable growth, productivity, faster and better decision-making, and disciplined execution.\u201d<\/p>\n \n\u201cAs we look ahead, our priorities are clear: deliver on our 2026 commitments; build a stronger operating foundation for 2027 and beyond; accelerate productivity and cost savings; improve cash generation; and reduce leverage. We are taking deliberate actions to strengthen B&G Foods, improve financial flexibility and position our company for sustainable long-term performance.\u201d<\/p>\n Financial Results for the Third Quarter of 2026 \nBase business net sales for the third quarter of 2026 increased $19.4 million, or 5.0%, to $404.6 million from $385.2 million for the third quarter of 2025. The increase in base business net sales was driven by an increase in volume of $23.6 million, or 6.1% of base business net sales, partially offset by a decrease in net pricing and the impact of product mix of $3.3 million, or 0.9% of base business net sales, and the negative impact of foreign currency of $0.9 million, or 0.2% of base business net sales.<\/p>\n \nNet sales for the recently acquired College Inn<\/i> and Kitchen Basics<\/i> brands contributed $29.0 million to the Company\u2019s net sales for the third quarter of 2026 and net sales of the Company\u2019s Green Giant<\/i> U.S. frozen co\u2011manufacturing agreement contributed $26.3 million of net sales in the third quarter of 2026. These net sales were partially offset by the Green Giant<\/i> U.S. frozen business and the Le Sueur<\/i> U.S. business, which contributed net sales during the third quarter of 2025 of $51.8 million and $2.3 million, respectively, which the Company divested in the first quarter of 2026 and in fiscal 2025, respectively, and are therefore not part of the Company\u2019s third quarter of 2026 results.<\/p>\n \nFor the third quarter of 2026, gross profit was $108.9 million, or 23.7% of net sales, and adjusted gross profit(1)<\/sup> was $111.2 million, or 24.2% of net sales. For the third quarter of 2025, gross profit was $99.0 million, or 22.5% of net sales, and adjusted gross profit was $98.8 million, or 22.5% of net sales. Gross profit as a percentage of net sales and adjusted gross profit percentage increased primarily due to the acquisition of the higher margin College Inn<\/i> and Kitchen Basics<\/i> brands and the divestiture of the lower margin Green Giant<\/i> U.S. frozen business. Gross profit and adjusted gross profit also increased in part due to increased base business net sales and lower tariff expense, including the effect of certain tariff refunds received from the U.S. government.<\/p>\n \nSelling, general and administrative expenses increased $6.7 million, or 14.9%, to $51.3 million for the third quarter of 2026 from $44.6 million for the third quarter of 2025. The increase was composed of increases in acquisition\/divestiture\u2011related and non-recurring expenses of $7.9 million, consumer marketing expenses of $0.6 million and warehousing expenses of $0.3 million, partially offset by decreases in selling expenses of $1.1 million and general and administrative expenses of $1.0 million. Expressed as a percentage of net sales, selling, general and administrative expenses increased by 1.0 percentage point to 11.2% for the third quarter of 2026, as compared to 10.2% for the third quarter of 2025.<\/p>\n \nDuring the third quarter of 2026, the Company recorded pre-tax, non-cash impairment charges of $40.7 million related to indefinite-lived intangible trademark assets for the B&M <\/i>and Joan of Arc<\/i> brands in connection with the Company\u2019s divestiture of those brands during the fourth quarter of 2026.<\/p>\n \nDuring the third quarter of 2025, the Company recorded pre-tax, non-cash impairment charges of $26.0 million related to indefinite-lived intangible trademark assets for the Victoria<\/i> and McCann\u2019s <\/i>brands.<\/p>\n \nDuring the third quarter of 2026, the Company recorded a gain of approximately $1.8 million related to the Green Giant <\/i>Canada(2)<\/sup> assets held for sale. The gain resulted from a change in the estimated fair value of the Green Giant <\/i>Canada assets held for sale less the estimated cost to sell those assets. Assets held for sale are remeasured quarterly.<\/p>\n \nDuring the third quarter of 2025, the Company completed the Le Sueur<\/i> U.S. divestiture and recognized a gain on sale of $15.5 million. During the third quarter of 2025, the Company recorded pre-tax, non-cash impairment charges of $27.8 million related to the Green Giant <\/i>Canada assets held for sale.<\/p>\n \nNet interest expense increased $7.5 million, or 20.1%, to $44.8 million for the third quarter of 2026 from $37.3 million for the third quarter of 2025. The increase was primarily attributable to an increase in average long-term debt outstanding compared to the third quarter of 2025, the 11.00% interest rate on the Company\u2019s new senior notes due 2031, and a loss on extinguishment of debt of $1.1 million during the third quarter of 2026 compared to a net gain on extinguishment of debt of $0.5 million during the third quarter of 2025.<\/p>\n \nThe Company had a net loss of $32.5 million, or $0.40 per diluted share, for the third quarter of 2026, compared to a net loss of $19.1 million, or $0.24 per diluted share, for the third quarter of 2025.<\/p>\n \nThe Company\u2019s adjusted net income for the third quarter of 2026 was $17.8 million, or $0.21 per adjusted diluted share, compared to adjusted net income of $11.7 million, or $0.15 per adjusted diluted share, for the third quarter of 2025.<\/p>\n \nAdjusted EBITDA was $81.8 million for the third quarter of 2026 compared to $70.4 million for the third quarter of 2025. Adjusted EBITDA as a percentage of net sales was 17.8% for the third quarter of 2026, compared to 16.0% for the third quarter of 2025.<\/p>\n \nThe increases in adjusted diluted earnings per share, adjusted EBITDA and adjusted EBITDA as a percentage of net sales were primarily attributable to increased base business net sales, the acquisition of the College Inn <\/i>and Kitchen Basics<\/i> brands, the divestiture of the Green Giant<\/i> U.S. frozen business, the commencement of the Green Giant<\/i> U.S. frozen co-manufacturing business, and lower tariff expenses, including the effect of certain tariff refunds received from the U.S. government.<\/p>\n Financial Results for the First Three Quarters of 2026 \nAs a result of the divestiture of the Green Giant<\/i> U.S. frozen business on March 2, 2026, net sales from the Green Giant<\/i> U.S. frozen business were $137.5 million lower during the first three quarters of 2026 than during the first three quarters of 2025. Net sales of the Don Pepino<\/i> and Le Sueur<\/i> U.S. businesses, which the Company divested in 2025 and are therefore not part of the Company\u2019s first three quarters of 2026 results, were $22.6 million during the first three quarters of 2025. Partially offsetting the impact of these divestitures were seven months of net sales from the Green Giant<\/i> U.S. frozen co-manufacturing agreement, which contributed $58.7 million of net sales in the first three quarters of 2026, and six-and-a-half months of net sales for the College Inn<\/i> and Kitchen Basics<\/i> brands, acquired on March 19, 2026, which contributed $45.1 million to the Company\u2019s net sales for the first three quarters of 2026.<\/p>\n \nBase business net sales for the first three quarters of 2026 increased $19.7 million, or 1.8%, to $1,116.0 million from $1,096.3 million for the first three quarters of 2025. The increase in base business net sales was driven by an increase in volume of $15.2 million, or 1.4% of base business net sales, an increase in net pricing and the impact of product mix (primarily related to the Spices & Flavor Solutions business unit) of $3.4 million, or 0.3% of base business net sales, and the positive impact of foreign currency of $1.1 million, or 0.1% of base business net sales.<\/p>\n \nFor the first three quarters of 2026, gross profit was $268.5 million or 21.4% of net sales, and adjusted gross profit was $279.4 million, or 22.3% of net sales. For the first three quarters of 2025, gross profit was $276.1 million, or 21.4% of net sales, and adjusted gross profit was $278.5 million, or 21.6% of net sales. Adjusted gross profit percentage increased due to the acquisition of the higher margin College Inn<\/i> and Kitchen Basics<\/i> brands, the divestiture of the lower margin Green Giant<\/i> U.S. frozen business, and lower tariff expenses during the first three quarters of 2026 compared to the first three quarters of 2025, including the effect of certain tariff refunds received from the U.S. government.<\/p>\n \nSelling, general and administrative expenses increased $1.2 million, or 0.8%, to $142.1 million for the first three quarters of 2026 from $140.9 million for the first three quarters of 2025. The increase was composed of an increase in acquisition\/divestiture\u2011related and non\u2011recurring expenses of $16.6 million, inclusive of an increase of $1.9 million for disposals and impairments of property, plant and equipment, partially offset by decreases in general and administrative expenses of $7.5 million, warehousing expenses of $4.9 million, selling expenses of $1.8 million and consumer marketing expenses of $1.2 million. Expressed as a percentage of net sales, selling, general and administrative expenses increased by 0.4 percentage points to 11.3% for the first three quarters of 2026, as compared to 10.9% for the first three quarters of 2025.<\/p>\n \nDuring the first three quarters of 2026, the Company recorded pre-tax, non-cash impairment charges of $40.7 million related to indefinite-lived intangible trademark assets for the B&M <\/i>and Joan of Arc<\/i> brands in connection with the Company\u2019s divestiture of those brands during the fourth quarter of 2026.<\/p>\n \nDuring the first three quarters of 2025, the Company recorded pre-tax, non-cash impairment charges of $26.0 million related to indefinite-lived intangible trademark assets for the Victoria<\/i> and McCann\u2019s <\/i>brands.<\/p>\n \nDuring the first three quarters of 2026, the Company recognized a loss on sale of assets of $36.3 million, primarily related to the divestiture of the Green Giant<\/i> U.S. frozen business.<\/p>\n \nDuring the first three quarters of 2026, the Company recorded a gain of approximately $1.8 million related to the Green Giant <\/i>Canada assets held for sale. The gain resulted from a change in the estimated fair value of the Green Giant <\/i>Canada assets held for sale less the estimated cost to sell those assets. Assets held for sale are remeasured quarterly.<\/p>\n \nDuring the first three quarters of 2025, the Company recognized a net gain on sale of assets of $2.9 million, which includes a gain on sale of $15.5 million for the Le Sueur <\/i>U.S. divestiture during the third quarter of 2025 and a loss on sale of $12.6 million for the Don Pepino<\/i> divestiture during the second quarter of 2025. During the first three quarters of 2025, the Company recorded pre-tax, non-cash impairment charges of $27.8 million related to the Green Giant <\/i>Canada assets held for sale.<\/p>\n \nNet interest expense increased $8.3 million, or 7.4%, to $119.1 million for the first three quarters of 2026 from $110.8 million for the first three quarters of 2025. The increase was primarily attributable to an increase in average long\u2011term debt outstanding during the first three quarters of 2026 compared to the first three quarters of 2025, the 11.00% interest rate on the Company\u2019s new senior notes due 2031, and a loss on extinguishment of debt of $1.1 million during the first three quarters of 2026 compared to a net gain on extinguishment of debt of $2.3 million during the first three quarters of 2025. During the first three quarters of 2026, net interest expense was also negatively impacted in connection with the Company\u2019s debt refinancing because the Company\u2019s 11.00% senior notes due 2031 were issued on June 10, 2026, prior to the redemption of the Company\u2019s 5.25% senior notes due 2027, and therefore during a 24-day period, the Company incurred interest expense on both sets of notes, which was only partially offset by interest earned on the net proceeds of the issuance of the 11.00% senior notes due 2031.<\/p>\n \nThe Company had a net loss of $69.0 million, or $0.85 per diluted share, for the first three quarters of 2026, compared to a net loss of $28.1 million, or $0.35 per diluted share, for the first three quarters of 2025. The Company\u2019s larger net loss for the first three quarters of 2026 as compared to the first three quarters of 2025 was primarily attributable to: the pre-tax, non-cash impairment charges of $40.7 million related to indefinite-lived intangible trademark assets for the B&M <\/i>and Joan of Arc<\/i> brands in connection with the Company\u2019s divestiture of those brands during the fourth quarter of 2026, the loss on sale of assets of $36.3 million (primarily related to the divestiture of the Green Giant<\/i> U.S. frozen business during the first quarter of 2026), and an increase in acquisition\/divestiture-related and non\u2011recurring expenses, partially offset by the gain of approximately $1.8 million related to the Green Giant <\/i>Canada assets held for sale recorded during the third quarter of 2026 as compared to the pre-tax, non-cash impairment charges of $27.8 million related to the Green Giant <\/i>Canada assets held for sale during the third quarter of 2025.<\/p>\n \nThe Company\u2019s adjusted net income for the first three quarters of 2026 was $29.5 million, or $0.36 per adjusted diluted share, compared to adjusted net income of $18.1 million, or $0.23 per adjusted diluted share, for the first three quarters of 2025. The increase in adjusted net income and adjusted diluted earnings per share in the first three quarters of 2026 was primarily attributable to the factors described above, and a decrease in depreciation and amortization.<\/p>\n \nFor the first three quarters of 2026, adjusted EBITDA was $199.9 million, an increase of $12.4 million, or 6.6%, compared to $187.5 million for the first three quarters of 2025. Adjusted EBITDA as a percentage of net sales was 16.0% for the first three quarters of 2026, compared to 14.5% for the first three quarters of 2025.<\/p>\n Segment Results(3) \nSpecialty \u2014 includes, among others, the Crisco<\/i>, Clabber Girl<\/i>, Bear Creek<\/i>, Polaner<\/i>, Underwood<\/i>, B&G<\/i>, Grandma\u2019s<\/i>, New York Style<\/i>, Baker\u2019s Joy<\/i>, Regina<\/i>, TrueNorth<\/i>, Static Guard<\/i>, SugarTwin<\/i> and Brer Rabbit<\/i> brands. Specialty also included the Don Pepino<\/i> and Sclafani<\/i> brands until the Company\u2019s divestiture of those brands on May 23, 2025 and the B&M<\/i> and Joan of Arc<\/i> brands until the Company\u2019s divestiture of those brands on October 13, 2026.<\/p>\n \nMeals \u2014 includes, among others, the Ortega<\/i>, Cream of Wheat<\/i>, College Inn,<\/i>Maple Grove Farms<\/i>, Las Palmas<\/i>, Kitchen Basics,<\/i>Victoria<\/i>, Mama Mary\u2019s<\/i>, Spring Tree<\/i>, Carey\u2019s, McCann\u2019s<\/i> and Vermont Maid <\/i>brands.<\/p>\n \nFrozen & Vegetables \u2014 primarily includes (1) the Company\u2019s frozen vegetable manufacturing operations in Mexico which, following the sale of the Company\u2019s Green Giant<\/i> U.S. frozen business on March 2, 2026, co-manufactures frozen vegetable products for the acquirer of the Company\u2019s Green Giant<\/i> U.S. frozen business and (2) the Company\u2019s Green Giant<\/i> and Le Sieur<\/i> brands in Canada, and included the Company\u2019s Green Giant<\/i> U.S. frozen and Le Sueur<\/i> brands in the United States until the Company\u2019s divestitures of those brands on March 2, 2026 and on August 1, 2025, respectively.<\/p>\n \nSpices & Flavor Solutions \u2014 includes, among others, the Dash<\/i>, Spice Islands<\/i>, Weber<\/i>, Ac\u2019cent<\/i>, Tone\u2019s<\/i>, Trappey\u2019s<\/i>, Durkee<\/i> and Wright\u2019s<\/i> brands.<\/p>\n Specialty Segment Results<\/i><\/b><\/p>\n \nSpecialty segment results were as follows (dollars in thousands):<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Third Quarter Ended<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n First Three Quarters Ended<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n October 3,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n September 27,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n October 3,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n September 27,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $ Change<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n % Change<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $ Change<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n % Change<\/b><\/p>\n<\/td>\n<\/tr>\n \nSpecialty segment net sales<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n163,039<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n150,526<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n12,513<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8.3%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n422,740<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n419,785<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,955<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.7%<\/p>\n<\/td>\n<\/tr>\n \nSpecialty segment adjusted expenses<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n129,151<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n112,802<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n16,349<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n14.5%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n339,018<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n315,891<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n23,127<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7.3%<\/p>\n<\/td>\n<\/tr>\n \nSpecialty segment adjusted EBITDA<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n33,888<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n37,724<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(3,836)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(10.2)%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n83,722<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n103,894<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(20,172)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(19.4)%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nThe increase in Specialty segment net sales for the third quarter and first three quarters of 2026 was primarily due to increased volumes in the Specialty portfolio, inclusive of increased institutional bulk vegetable oil sales, partially offset by a decrease in net pricing and the impact of product mix. For the first three quarters of 2026, the increase was also partially offset by the divestiture of the Don Pepino <\/i>business, which generated $5.3 million of net sales in the first three quarters of 2025.<\/p>\n \nThe decrease in Specialty segment adjusted EBITDA for the third quarter and first three quarters of 2026 was primarily due to higher oil input costs for the Crisco<\/i> brand and increased transportation and logistics costs due to rising diesel fuel prices. For the first three quarters of 2026, a portion of the decrease in Specialty segment adjusted EBITDA was also attributable to the Don Pepino<\/i> divestiture.<\/p>\n Meals Segment Results<\/i><\/b><\/p>\n \nMeals segment results were as follows (dollars in thousands):<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Third Quarter Ended<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n First Three Quarters Ended<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n October 3,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n September 27,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n October 3,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n September 27,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $ Change<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n % Change<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $ Change<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n % Change<\/b><\/p>\n<\/td>\n<\/tr>\n \nMeals segment net sales<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n140,608<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n109,966<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n30,642<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n27.9%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n358,213<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n320,187<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n38,026<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11.9%<\/p>\n<\/td>\n<\/tr>\n \nMeals segment adjusted expenses<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n110,830<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n86,087<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24,743<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n28.7%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n282,677<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n245,589<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n37,088<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15.1%<\/p>\n<\/td>\n<\/tr>\n \nMeals segment adjusted EBITDA<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n29,778<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n23,879<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n5,899<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24.7%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n75,536<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n74,598<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n938<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1.3%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nThe increase in Meals segment net sales for the third quarter and first three quarters of 2026 was primarily due to the College Inn <\/i>and Kitchen Basics<\/i> acquisition, which contributed $29.0 million and $45.1 million of net sales for the third quarter and first three quarters of 2026, respectively, and an increase in net pricing and the impact of product mix, offset in part by lower volumes across the Meals segment in the aggregate for the first three quarters of 2026, after excluding the benefit of the net sales from the College Inn<\/i> and Kitchen Basics<\/i> acquisition. Net sales for the third quarter of 2026 were also positively impacted by an increase in volumes across the Meals segment in the aggregate, as well as the positive impact on volumes from the College Inn<\/i> and Kitchen Basics <\/i>acquisition.<\/p>\n \nThe increase in Meals segment adjusted EBITDA for the third quarter and first three quarters of 2026 was primarily due to the increase in Meals segment net sales, primarily attributable to the College Inn<\/i> and Kitchen Basics<\/i> acquisition and an increase in overall net pricing for the Meals segment, partially offset by, among other things, increases in certain raw material costs, coupled with increased transportation and logistics costs due to rising diesel fuel prices.<\/p>\n Frozen & Vegetables Segment Results<\/i><\/b><\/p>\n \nFrozen & Vegetables segment results were as follows (dollars in thousands):<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Third Quarter Ended<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n First Three Quarters Ended<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n October 3,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n September 27,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n October 3,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n September 27,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $ Change<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n % Change<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $ Change<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n % Change<\/b><\/p>\n<\/td>\n<\/tr>\n \nFrozen & Vegetables segment net sales<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n54,458<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n77,398<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(22,940)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(29.6)%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n172,681<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n259,506<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(86,825)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(33.5)%<\/p>\n<\/td>\n<\/tr>\n \nFrozen & Vegetables segment adjusted expenses<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n48,726<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n73,223<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(24,497)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(33.5)%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n163,567<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n259,534<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(95,967)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(37.0)%<\/p>\n<\/td>\n<\/tr>\n \nFrozen & Vegetables segment adjusted EBITDA<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n5,732<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n4,175<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,557<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n37.3%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n9,114<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(28)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n9,142<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \nNM<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nThe decrease in Frozen & Vegetables segment net sales for the third quarter and first three quarters of 2026 was primarily due to the Green Giant<\/i> U.S. frozen divestiture (which negatively impacted net sales versus the third quarter and first three quarters of 2025 by $25.6 million and $78.8 million, respectively, net of the positive impact on net sales of the Green Giant <\/i>U.S. frozen co\u2011manufacturing agreement of $26.3 million and $58.7 million, respectively), and the Le Sueur<\/i> U.S. divestiture (which negatively impacted net sales versus the third quarter and first three quarters of 2025 by $2.3 million and $17.4 million, respectively). Net sales for Green Giant<\/i> Canada(2)<\/sup> increased by $5.0 million, or 21.6%, and $9.8 million, or 13.6%, for the third quarter and first three quarters of 2026, respectively.<\/p>\n \nThe increase in Frozen & Vegetables segment adjusted EBITDA for the third quarter and first three quarters of 2026 was primarily due to the Green Giant<\/i> U.S. frozen divestiture and the Green Giant<\/i> U.S. frozen co\u2011manufacturing agreement.<\/p>\n Spices & Flavor Solutions Segment Results<\/i><\/b><\/p>\n \nSpices & Flavor Solutions segment results were as follows (dollars in thousands):<\/p>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Third Quarter Ended<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n First Three Quarters Ended<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n October 3,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n September 27,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n October 3,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n September 27,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $ Change<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n % Change<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $ Change<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n % Change<\/b><\/p>\n<\/td>\n<\/tr>\n \nSpices & Flavor Solutions segment net sales<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n101,677<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n101,414<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n263<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n0.3%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n298,359<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n289,653<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n8,706<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3.0%<\/p>\n<\/td>\n<\/tr>\n \nSpices & Flavor Solutions segment adjusted expenses<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n68,928<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n75,015<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6,087)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(8.1)%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n204,783<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n212,866<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(8,083)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3.8)%<\/p>\n<\/td>\n<\/tr>\n \nSpices & Flavor Solutions segment adjusted EBITDA<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n32,749<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n26,399<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n6,350<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24.1%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n93,576<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n76,787<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n16,789<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n21.9%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nThe increase in Spices & Flavor Solutions segment net sales for the third quarter and first three quarters of 2026 was primarily due to strong continued growth in private label and foodservice channels, and a moderate increase in net pricing, partially offset by declines in volumes for certain spice brands.<\/p>\n \nThe increase in Spices & Flavor Solutions segment adjusted EBITDA for the third quarter and first three quarters of 2026 was primarily due to a moderate increase in net pricing, a reduction in input costs for spices relative to the first three quarters of last year, and lower tariff expenses, including the effect of certain tariff refunds received from the U.S. government. The increase was partially offset by increased transportation and logistics costs due to rising diesel fuel prices.<\/p>\n Full Year Fiscal 2026 Guidance \nB&G Foods provides earnings guidance only on a non-GAAP basis and does not provide a reconciliation of the Company\u2019s forward-looking adjusted EBITDA and adjusted diluted earnings per share guidance to the most directly comparable GAAP financial measures because of the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations, including adjustments that could be made for deferred taxes; acquisition\/divestiture-related expenses, gains and losses (which may include third-party fees and expenses, integration, restructuring and consolidation expenses, amortization of acquired inventory fair value step-up and gains and losses on the sale of certain assets); gains and losses on extinguishment of debt; impairment of assets held for sale; impairment of intangible assets; non-recurring expenses, gains and losses; and other charges reflected in the Company\u2019s reconciliation of historic non-GAAP financial measures, the amounts of which, based on past experience, could be material. For additional information regarding B&G Foods\u2019 non-GAAP financial measures, see \u201cAbout Non-GAAP Financial Measures and Items Affecting Comparability\u201d below.<\/p>\n
\nB&G Foods, Inc. (NYSE: BGS) today announced financial results for the third quarter and first three quarters of 2026. Financial results for the third quarter and first three quarters of 2026 include the impact of the College Inn<\/i> and Kitchen Basics<\/i> acquisition, which was completed on March 19, 2026, the Green Giant<\/i> U.S. frozen divestiture, which was completed on March 2, 2026, and the co-manufacturing agreement the Company entered into on March 2, 2026 with the acquirer of the Green Giant<\/i> U.S. frozen business.<\/p>\n\n
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<\/b>Net sales for the third quarter of 2026 increased $20.5 million, or 4.7%, to $459.8 million from $439.3 million for the third quarter of 2025. The increase was primarily attributable to an increase in base business net sales, three months of net sales for the College Inn<\/i> and Kitchen Basics<\/i> brands and three months of net sales from the co-manufacturing agreement the Company entered into with the acquirer of the Green Giant<\/i> U.S. frozen business, partially offset by the Green Giant<\/i> U.S. frozen and Le Sueur<\/i> U.S. divestitures.<\/p>\n
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<\/b>Net sales for the first three quarters of 2026 decreased $37.1 million, or 2.9%, to $1,252.0 million from $1,289.1 million for the first three quarters of 2025. The decrease was primarily attributable to the Green Giant<\/i> U.S. frozen, Le Sueur<\/i> U.S. and Don Pepino<\/i> divestitures, partially offset by seven months of net sales from the co\u2011manufacturing agreement the Company entered into on March 2, 2026 with the acquirer of the Green Giant<\/i> U.S. frozen business, six-and-a-half months of net sales for the College Inn<\/i> and Kitchen Basics<\/i> brands, and an increase in base business net sales.<\/p>\n
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<\/sup><\/b>The Company operates in, and reports results by, four business segments (also referred to as business units):<\/p>\n\n
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<\/b>B&G Foods increased its net sales guidance for fiscal 2026 to a range of $1.760 billion to $1.800 billion, increased its adjusted EBITDA guidance to a range of $280.0 million to $290.0 million, and reaffirmed its adjusted diluted earnings per share at a range of $0.575 to $0.675. This guidance (1) includes the expected impact of one fewer reporting week in fiscal 2026 as compared to fiscal 2025, (2) includes the expected impact of the Company\u2019s divestiture of the Green Giant<\/i> U.S. frozen business, which closed on March 2, 2026, and the Company\u2019s entry into a co-manufacturing agreement with the acquirer of the business, (3) includes the expected impact of the Don Pepino<\/i> divestiture, which closed on May 23, 2025, (4) includes the expected impact of the Le Sueur<\/i> U.S. divestiture, which closed on August 1, 2025, (5) includes the expected impact of the College Inn<\/i> and Kitchen Basics<\/i> acquisition, which closed on March 19, 2026, (6) includes the expected impact of the B&M <\/i>and Joan of Arc <\/i>divestiture, which closed on October 13, 2026, and (7) excludes the potential impact from any divestiture of Green Giant<\/i> Canada.<\/p>\n