Company: BRID
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001493152-25-012266
Chunk: 22

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-08-22
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 no longer required and all covenant reporting
will be pursuant to the amended and restated credit agreement. As of the date of filing, the Company is in compliance with all
loan covenants and was in compliance with all loan covenants as of November 1, 2024.

We
anticipate being in compliance with the covenants of the Credit Agreement during the fourth fiscal quarter of 2025 and fiscal year 2026.
Our inability to meet financial covenant requirements in future quarters of the Credit Agreement may impact our liquidity. We have already
begun implementing a price increase on our products to help offset some of the higher costs for meat commodities and are focused on reducing
selling, general and administrative expenses. Certain factors such as increased commodity costs, tariffs, willingness of customers to
accept price increases and inflation of input costs, to name a few, may cause future outcomes to differ materially from those foreseen
in forward-looking statements.

13 of 27

Item
2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

(dollars
in thousands)

CAUTIONARY
NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain
statements included within  this Report, and the information and documents incorporated by reference with this Report, constitute “forward-looking
statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and
Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These forward-looking statements are
intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements
other than statements of historical fact included in this Report or incorporated by reference into this Report are forward-looking statements.
These statements include, among other things, any predictions of earnings, revenues, expenses or other financial items; plans or expectations
with respect to our business strategy; statements concerning industry trends; statements regarding anticipated demand for our products,
or the products of our competitors; statements relating to manufacturing forecasts; statements relating to forecasts of our liquidity
position or available cash resources; statements regarding operational challenges, including as a result of global supply chain disruptions
and labor shortages; statements regarding inflationary pressures, including increased costs for labor and freight, and the resulting
impact on our results of operations; statements regarding new regulations related to federal income tax and the impact on our financial
statements and cash flow; statements regarding the impact of