Although B&G Foods (NYSE:BGS) reported 15% Y/Y revenue growth, its gross margin declined 380 bps to 30.2% from 33.8% year ago. Operating margin took a beat due to one-time non-cash asset impairment charges and acquisition-related cost. Adjusted EBITDA +7.5% Y/Y to $49.5M. Full year adjusted EPS guidance of $1.54 to $1.60 reiterated vs. consensus of $1.56. QCC, Shares -1.5% AH.
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