Coronavirus Pandemic to Cause B&G Foods' Full-Year Sales to "Materially Exceed" Guidance

Packaged and canned foods might not be selling at the same panic-buying levels they were early on in the COVID-19 pandemic, but B&G Foods (NYSE: BGS) says they're continuing to grow at such a high rate that it expects its full-year results to "materially exceed" the guidance it gave back in February. In the meantime, the owner of the Green Giant, Cream of Wheat, and Ortega brands said Q2 sales jumped 38% to $512 million, ending up with a slightly lower growth rate than the 57.6% sales surge B&G experienced during the first two months of the quarter. When the COVID-19 outbreak was declared a pandemic, people cleared out store shelves of most consumer basics, including canned goods, water, toilet paper, sanitizer, Lysol, and more.