B&G Foods (NYSE: BGS) reported Q2 EPS of $0.34, in-line with the analyst estimate of $0.34. Revenue for the quarter came in at $193.6 million versus the consensus estimate of $209.19 million.

B&G Foods sees FY2015 EPS of $1.44-$1.50, versus the consensus of $1.47.

Commenting on the results, Robert C. Cantwell, President and Chief Executive Officer of B&G Foods, stated, “During the quarter, the Company achieved strong growth in adjusted net income of 8.4% and adjusted EBITDA of 2.8%. We also continued our internal efforts to expand our adjusted EBITDA margin* (already one of the industry’s leading margins) through reduced promotional spending and cost reductions, increasing our adjusted EBITDA margin 1.8 percentage points to 24.5%. The quarter also included a successful equity offering that reduced our net leverage and provided liquidity for acquisitions. With a portion of the proceeds of the equity offering and consistent with our continued commitment to pursue accretive acquisitions, we are pleased to have begun the third quarter by acquiring Mama Mary’s, a leading brand of shelf-stable pizza crusts that complements very well our existing portfolio of products, including our Don Pepino pizza sauce. The acquisition is consistent with our long-standing strategy of acquiring brands with strong category positioning at accretive purchase price multiples.”

“We are also pleased that during the second quarter we were able to enter into a strategic partnership with DSC Logistics to provide warehousing and distribution management services at our three primary distribution centers,” Mr. Cantwell continued. “We expect that the first of the three distribution centers will transition during the third quarter of 2015 and that after all three have transitioned by the end of the second quarter of 2016, we will achieve cost savings of approximately $8.0 million per year. As we move into the second half of 2015, we remain encouraged by the improvements we have made in our already very strong adjusted EBITDA margin and are confident about achieving our updated full year guidance for 2015.”

For earnings history and earnings-related data on B&G Foods (BGS) click here.