By Adam L. Cataldo

Shares of B&G Foods dropped after cutting guidance for this year and warning that its new outlook doesn't include the possible effects of tariffs already imposed or threatened.

The stock dropped 28% to $4.56 on Wednesday. Shares at one point were down 32% at $4.30, their lowest price since May 6, 2010. In the past 52 weeks the stock is down 59%.

B&G revised its revenue forecast to $1.86 billion to $1.91 billion for this year, down from its guidance in February of $1.89 billion to $1.95 billion. Adjusted earnings per share was lowered to 55 cents to 65 cents, down from 65 cents to 75 cents.

The guidance update was included as part of the company's results released before start of market trading.

B&G reported first-quarter adjusted earnings per share of 4 cents, missing the estimate of 15 cents of analysts surveyed by FactSet.

Net sales declined almost 11% to $425.4 million.

"While January and February were especially difficult, recent net sales in March, April and early May have begun to show stabilizing trends versus last year," Chief Executive Casey Keller said.

Based in Parsippany, N.J., B&G manufactures, sells and distributes more than 50 brands of shelf-stable and frozen foods products across the U.S., Canada and Puerto Rico.

Write to Adam Cataldo at adam.cataldo@wsj.com

(END) Dow Jones Newswires

May 07, 2025 13:38 ET (17:38 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.