Core Insights - Conagra Brands, Inc. reported a decline in both revenue and earnings for the fourth quarter of fiscal 2024, with net sales of $2,905.9 million, down 2.3% year over year, missing the Zacks Consensus Estimate of $2,939 million [2][6] - The company experienced a challenging industry environment characterized by a slowdown in consumption, leading to a 1.6% year-over-year decline in adjusted earnings per share (EPS) to 61 cents, although this exceeded the Zacks Consensus Estimate of 56 cents [2][6] - Despite these challenges, strategic investments in brands have led to volume improvements in the Domestic Retail business, particularly in the Frozen and Snacks categories, and management anticipates a gradual easing of difficult industry trends [1][6] Financial Performance - Adjusted gross profit remained flat at $803 million, while adjusted gross margin improved by 62 basis points to 27.6%, driven by higher productivity [3] - Adjusted EBITDA decreased to $577 million from $594.2 million in the previous year [3] - The company generated $2 billion in net cash flows from operating activities for fiscal 2024, with capital expenditures of $388 million and free cash flow of $1.6 billion [6] Segment Performance - Grocery & Snacks segment net sales were $1,174.7 million, down 2.1% year over year, with organic sales also declining by 2.1% due to a 3.6% drop in volumes [4] - Refrigerated & Frozen segment saw net sales decline by 3.8% to $1,173 million, with volumes up 0.9% but a price/mix decrease of 4.7% [4] - International segment net sales increased by 6.4% to $266.8 million, driven by improved organic sales and positive currency effects [5] Guidance - For fiscal 2025, Conagra anticipates organic net sales growth to be between a 1.5% decline and flat, with adjusted operating margin expected between 15.6% and 15.8% [7] - Management projects adjusted EPS in the range of $2.60 to $2.65, compared to $2.67 in fiscal 2024 [7] - The company plans to maintain its dividend rate at $1.40 per share, with a quarterly dividend of 35 cents per share scheduled for payment on August 29, 2024 [6]

Key TakeawaysConagra Brands gave a disappointing fiscal 2025 outlook, citing a tough consumer environment.The processed food company said it expects the consumer to remain challenged in the fiscal year ahead.Conagra posted better-than-expected profit in its fiscal 2024 fourth quarter, although revenue declined. Conagra Brands (CAG) shares fell Thursday as the processed food giant gave weaker-than-expected guidance amid what it called a “difficult consumer environment.” The provider of brands such as Birds E ...

Conagra Brands (CAG) reported $2.91 billion in revenue for the quarter ended May 2024, representing a year-over-year decline of 2.3%. EPS of $0.61 for the same period compares to $0.62 a year ago.The reported revenue represents a surprise of -1.13% over the Zacks Consensus Estimate of $2.94 billion. With the consensus EPS estimate being $0.56, the EPS surprise was +8.93%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ex ...

Conagra Brands, Inc. (NYSE:CAG) Q4 2024 Earnings Call Transcript July 11, 2024 8:30 AM ET Company Participants Melissa Napier - SVP of IR Sean Connolly - CEO David Marberger - CFO Operator Good morning. This is Melissa Napier from Conagra Brands. Thank you for listening to our prepared remarks on Conagra Brand’s Fourth Quarter and Fiscal Year 2024 Earnings. At 9:30 AM eastern this morning, we will hold a separate live question-and-answer session on today's results, which you can access via webcast on our In ...

FY24 Q4 Earnings Presentation July 11, 2024 1 Legal Disclosure Note on Forward-Looking Statements This document contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Readers of this document should understand that these statements are not guarantees of performance or results. Many factors could affect our actual financial results and ca ...

Conagra Brands (CAG) came out with quarterly earnings of $0.61 per share, beating the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.62 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.93%. A quarter ago, it was expected that this company would post earnings of $0.64 per share when it actually produced earnings of $0.69, delivering a surprise of 7.81%.Over the last four quarters, the company has ...

Conagra Brands (CAG) Q4 2024 Earnings Call July 11, 2024 07:00 AM ET Speaker0Good morning. This is Melissa Napier from Conagra Brands. Thank you for listening to our prepared remarks on Conagra Brands' fourth quarter and fiscal year twenty twenty four earnings. At 09:30 Eastern this morning, we will hold a separate live question and answer session on today's results, which you can access via webcast on our Investor Relations website. Our press release, presentation materials and a transcript of these prepar ...

CONAGRA BRANDS REPORTS FOURTH QUARTER RESULTS AND QUARTERLY DIVIDEND CHICAGO, July 11, 2024 — Today Conagra Brands, Inc. (NYSE: CAG) reported results for the fourth quarter and full year fiscal year 2024, which ended on May 26, 2024. All comparisons are against the prior- year fiscal period, unless otherwise noted. Highlights CEO Perspective Sean Connolly, president and chief executive officer of Conagra Brands, commented, "Our investments in our brands continued to yield results, and again drove volume imp ...

CHICAGO, July 11, 2024 /PRNewswire/ -- Today Conagra Brands, Inc. (NYSE: CAG) reported results for the fourth quarter and full year fiscal year 2024, which ended on May 26, 2024. All comparisons are against the prior-year fiscal period, unless otherwise noted.HighlightsFourth quarter:Reported net sales decreased 2.3% and organic net sales decreased 2.4%Reported operating margin was (19.1)%; adjusted operating margin was 14.8%Reported diluted loss per share for the fourth quarter was $1.18, primarily as a re ...

Loading...Loading...Conagra Brands, Inc. CAG will release its fiscal 2024 fourth quarter financial results, before the opening bell on Thursday, July 11.Analysts expect the Chicago, Illinois-based company to report quarterly earnings at 57 cents per share, down from 62 cents per share in the year-ago period. Conagra Brands is expected to post revenue of $2.93 billion, compared to $2.97 billion a year earlier, according to data from Benzinga Pro.On April 11, Conagra Brands announced a quarterly dividend paym ...