Packaged foods company B&G Foods (NYSE: BGS) met Wall Streets revenue expectations in Q3 CY2025, but sales fell by 4.7% year on year to $439.3 million. The company’s outlook for the full year was close to analysts’ estimates with revenue guided to $1.83 billion at the midpoint. Its non-GAAP profit of $0.15 per share was 35.6% above analysts’ consensus estimates.
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B&G Foods (BGS) Q3 CY2025 Highlights:
- Revenue: $439.3 million vs analyst estimates of $439.2 million (4.7% year-on-year decline, in line)
- Adjusted EPS: $0.15 vs analyst estimates of $0.11 (35.6% beat)
- Adjusted EBITDA: $70.41 million vs analyst estimates of $66 million (16% margin, 6.7% beat)
- The company dropped its revenue guidance for the full year to $1.83 billion at the midpoint from $1.86 billion, a 1.3% decrease
- Management lowered its full-year Adjusted EPS guidance to $0.54 at the midpoint, a 1.8% decrease
- EBITDA guidance for the full year is $276.5 million at the midpoint, above analyst estimates of $271.5 million
- Operating Margin: 2.5%, down from 11.1% in the same quarter last year
- Sales Volumes fell 2.9% year on year (4.7% in the same quarter last year)
- Market Capitalization: $313.6 million
Company Overview
Started as a small grocery store in New York City, B&G Foods (NYSE: BGS) is an American packaged foods company with a diverse portfolio of more than 50 brands.
Revenue Growth
A company’s long-term sales performance is one signal of its overall quality. Any business can experience short-term success, but top-performing ones enjoy sustained growth for years.
With $1.84 billion in revenue over the past 12 months, B&G Foods is a small consumer staples company, which sometimes brings disadvantages compared to larger competitors benefiting from economies of scale and negotiating leverage with retailers.
As you can see below, B&G Foods’s revenue declined by 4.5% per year over the last three years despite selling a similar number of units each year. We’ll explore what this means in the "Volume Growth" section.
This quarter, B&G Foods reported a rather uninspiring 4.7% year-on-year revenue decline to $439.3 million of revenue, in line with Wall Street’s estimates.
Looking ahead, sell-side analysts expect revenue to decline by 1.2% over the next 12 months. it’s tough to feel optimistic about a company facing demand difficulties.
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Volume Growth
Revenue growth can be broken down into changes in price and volume (the number of units sold). While both are important, volume is the lifeblood of a successful staples business as there’s a ceiling to what consumers will pay for everyday goods; they can always trade down to non-branded products if the branded versions are too expensive.
B&G Foods’s quarterly sales volumes have, on average, stayed about the same over the last two years. This stability is normal because the quantity demanded for consumer staples products typically doesn’t see much volatility. 
In B&G Foods’s Q3 2025, sales volumes dropped 2.9% year on year. This result was a reversal from its historical levels.
Key Takeaways from B&G Foods’s Q3 Results
It was good to see B&G Foods beat analysts’ EPS expectations this quarter. We were also glad its EBITDA outperformed Wall Street’s estimates. Overall, we think this was a decent quarter with some key metrics above expectations. The stock traded up 3% to $4.08 immediately following the results.
B&G Foods put up rock-solid earnings, but one quarter doesn’t necessarily make the stock a buy. Let’s see if this is a good investment. The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here, it’s free for active Edge members.
