Bridgford Foods Corp Files 10-Q
Ticker: BRID · Form: 10-Q · Filed: May 31, 2024 · CIK: 14177
Sentiment: neutral
Topics: 10-Q, financials, food-industry
TL;DR
Bridgford Foods 10-Q filed. Financials updated.
AI Summary
Bridgford Foods Corp filed a 10-Q for the period ending April 19, 2024. The filing details financial information for the company, which operates in the sausage and prepared meat products industry. Specific financial figures and operational details are presented within the report.
Why It Matters
This filing provides investors and stakeholders with an update on Bridgford Foods Corp's financial performance and position as of April 19, 2024.
Risk Assessment
Risk Level: low — The filing is a routine quarterly report and does not indicate any immediate or significant risks.
Key Players & Entities
- BRIDGFORD FOODS CORP (company) — Filer
- 20240419 (date) — Period of Report
- 20240531 (date) — Filed as of Date
- SAUSAGE, OTHER PREPARED MEAT PRODUCTS (industry) — Standard Industrial Classification
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240419.
What is the company's Standard Industrial Classification?
The company's SIC is SAUSAGE, OTHER PREPARED MEAT PRODUCTS [2013].
What is the company's fiscal year end?
The company's fiscal year end is 1101.
What is the filing date of this 10-Q?
The filing was made on 20240531.
What is the company's primary business address?
The business address is 1308 N PATT ST, ANAHEIM, CA 92801.
Filing Stats: 4,572 words · 18 min read · ~15 pages · Grade level 14.4 · Accepted 2024-05-31 17:08:14
Filing Documents
- form10-q.htm (10-Q) — 772KB
- ex31-1.htm (EX-31.1) — 18KB
- ex31-2.htm (EX-31.2) — 18KB
- e32-1.htm (EX-32.1) — 7KB
- ex32-2.htm (EX-32.2) — 7KB
- form10-q_001.jpg (GRAPHIC) — 4KB
- 0001493152-24-022237.txt ( ) — 3590KB
- brid-20240419.xsd (EX-101.SCH) — 23KB
- brid-20240419_cal.xml (EX-101.CAL) — 47KB
- brid-20240419_def.xml (EX-101.DEF) — 55KB
- brid-20240419_lab.xml (EX-101.LAB) — 195KB
- brid-20240419_pre.xml (EX-101.PRE) — 144KB
- form10-q_htm.xml (XML) — 588KB
Financial Information
Part I. Financial Information 3
Financial Statements
Item 1. Financial Statements 3 a. Condensed Consolidated Balance Sheets as of April 19, 2024 (unaudited) and November 3, 2023 3 b. Condensed Consolidated Statements of Operations for the twelve and twenty-four weeks ended April 19, 2024 (unaudited) and April 14, 2023 (unaudited) 4 c. Condensed Consolidated Statements of Shareholders' Equity for the twelve and twenty-four weeks ended April 19, 2024 (unaudited) and April 14, 2023 (unaudited) 5 d. Condensed Consolidated Statements of Cash Flows for the twenty-four weeks ended April 19, 2024 (unaudited) and April 14, 2023 (unaudited) 6 e. Notes to Condensed Consolidated Financial Statements (unaudited) 7
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 15
Quantitative and Qualitative Disclosures about Market Risk
Item 3. Quantitative and Qualitative Disclosures about Market Risk 25
Controls and Procedures
Item 4. Controls and Procedures 25
Other Information
Part II. Other Information 26
Legal Proceedings
Item 1. Legal Proceedings 26
Risk Factors
Item 1A. Risk Factors 26
Exhibits
Item 6. Exhibits 27
Signatures
Signatures 28 Items 2 through 5 of Part II have been omitted because they are not applicable with respect to the Company and/or the current reporting period. 2 of 28 Part I. Financial Information Item 1. a. BRIDGFORD FOODS CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) April 19, 2024 November 3, 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 13,789 $ 15,708 Accounts receivable, less allowance for credit losses of $ 234 and $ 248 , respectively, and promotional allowances of $ 1,453 and $ 2,093 , respectively 26,402 28,593 Inventories, net 39,275 40,573 Refundable income taxes 3,781 2,168 Prepaid expenses and other current assets 1,808 435 Total current assets 85,055 87,477 Property, plant and equipment, net of accumulated depreciation and amortization of $ 76,447 and $ 73,397 , respectively 66,250 67,487 Other non-current assets 13,088 12,034 Total assets $ 164,393 $ 166,998 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 7,607 $ 7,201 Accrued payroll, advertising, and other expenses 7,105 6,404 Income taxes payable 256 256 Current notes payable - equipment 1,061 1,045 Current right-of-use leases payable 978 1,120 Other current liabilities 1,810 1,955 Total current liabilities 18,817 17,981 Long-term notes payable - equipment 2,340 2,786 Deferred income taxes, net 8,342 8,342 Long-term right-of-use leases payable 1,992 2,450 Executive retirement, pension plans and other 4,327 5,904 Total long-term liabilities 17,001 19,482 Total liabilities 35,818 37,463 Contingencies and commitments (Note 3) - - Shareholders' equity: Preferred stock, without par value; authorized – 1,000,000 shares; issued and outstanding – none - - Common stock, $ 1.00 par value; authorized – 20,000,000 shares; issued and outstanding – 9,076,832 and 9,076,832 shares, r