Conagra Brands, Inc. (CAG) is likely to register a top- and bottom-line decline when it reports fourth-quarter fiscal 2024 earnings on Jul 11. The Zacks Consensus Estimate for net sales is pegged at $2.9 billion, suggesting a decline of 1.2% from the prior-year quarter’s reported figure. The consensus mark for the fiscal 2024 top line is pegged at $12.1 billion, indicating a decline of 1.6% from the year-ago period’s reported figure.The consensus mark for quarterly earnings has moved down by a penny in the ...

Core Insights - Conagra Brands, Inc. (CAG) emphasizes innovation as a key asset for brand enhancement and sustainable growth, launching over 50 new products this summer [1][2] - The company is strategically positioned to meet evolving consumer trends with a focus on healthier and plant-based options [1][2] Product Innovations - New product offerings include Dolly Parton's Homestyle Macaroni & Cheese, Chef Boyardee's Spaghetti & Meatballs, and Gardein Ultimate Plant-Based's Crispy Breaded F'Sh [2] - The diverse range of products aims to capture consumer preferences and drive sales growth [2] Market Performance - Conagra has gained market share in the frozen category, achieving a 1-point unit share gain in Q3 of fiscal 2023 despite market challenges [3][4] - The frozen business has outperformed the market, with positive responses to innovations in frozen sides, breakfasts, seafood, and single-serve meals [4] Financial Outlook - For fiscal 2024, management projects adjusted EPS in the range of $2.60-$2.65, down from $2.77 in fiscal 2023 [5] - Despite a 3.9% drop in shares over the past three months, the extensive product expansion is expected to enhance revenue potential and competitive edge [5]

Conagra Brands, Inc. (CAG) continues to be driven by its focus on brand-building through innovation, merchandising and advertising. The company has been witnessing market share gains in the frozen category. In the third quarter of fiscal 2023, the frozen business remained strong despite a challenging landscape. This reflects the forte of the company’s brands and the effective execution of the Conagra Way playbook.These upsides bode well for this Zacks Rank #3 (Hold) company amid elevated costs related to gr ...

"We have a diverse collection of new food that offers something for every taste," said Burke Raine, President, Refrigerated & Frozen for Conagra Brands. "Our team has worked hard to craft delicious new recipes, and we look forward to consumers trying them for the first time." Highlights from Conagra Brands' summer slate of new food include the following. Dolly Serves Up New Dinner and Desserts: Dolly Parton's Southern-style recipes have been a big hit in the baking aisle thanks to her Duncan Hines® baking ...

Group 1 - Conagra Brands has a strong history of beating earnings estimates, with an average surprise of 6.89% over the last two quarters [1] - In the last reported quarter, Conagra Brands achieved earnings of $0.69 per share, exceeding the Zacks Consensus Estimate of $0.64 per share by 7.81% [1] - The previous quarter also saw Conagra Brands outperform expectations, reporting earnings of $0.71 per share against an estimate of $0.67 per share, resulting in a surprise of 5.97% [1] Group 2 - Earnings estimates for Conagra Brands have been trending higher, supported by its history of earnings surprises [2] - The stock has a positive Zacks Earnings ESP of +2.47%, indicating bullish sentiment among analysts regarding its near-term earnings potential [3] - The next earnings report for Conagra Brands is anticipated to be released on July 11, 2024 [3] Group 3 - Stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have a nearly 70% chance of producing a positive surprise [2] - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, reflecting the latest analyst revisions [3] - A negative Earnings ESP does not necessarily indicate an earnings miss, as many companies can still beat consensus estimates [4]

Collaborations with Microsoft and Ernst & Young LLP (EY) accelerate AI initiatives CHICAGO, June 25, 2024 /PRNewswire/ -- Conagra Brands, Inc. (NYSE: CAG) today announced it is advancing its artificial intelligence solutions through a human-centered approach that prioritizes responsible use of AI across the company. By putting employees at the center of its AI strategy, Conagra aims to drive efficiencies by leveraging innovative tools to develop, optimize and reimagine its capabilities. This approach empowe ...

Core Viewpoint - Conagra Brands (CAG) is identified as a strong value stock with a favorable Zacks Rank and attractive valuation metrics [2][3]. Valuation Metrics - CAG has a Forward P/E ratio of 11.02, significantly lower than the industry average of 15.95, indicating potential undervaluation [2]. - The stock's P/B ratio stands at 1.54, compared to the industry's average P/B of 2.12, further suggesting it is undervalued [2]. - CAG's P/CF ratio is 10.67, which is also lower than the industry average of 15.69, reinforcing the notion of undervaluation based on cash flow [3]. Historical Performance - Over the past 12 months, CAG's Forward P/E has fluctuated between a high of 12.28 and a low of 9.47, with a median of 10.87 [2]. - The P/B ratio for CAG has ranged from a high of 1.89 to a low of 1.39, with a median of 1.54 [2]. - CAG's P/CF ratio has varied from a high of 15.91 to a low of 8.58, with a median of 10.35 [3]. Investment Outlook - The combination of CAG's strong earnings outlook and favorable valuation metrics positions it as an impressive value stock in the current market [3].

CHICAGO, June 11, 2024 /PRNewswire/ -- Conagra Brands, Inc. (NYSE: CAG) will release its fiscal 2024 fourth quarter and full year results on Thursday, July 11, 2024. A press release and supplemental materials, including pre-recorded remarks, will be issued that morning prior to a 30-minute live question-and-answer session with the investment community at 9:30 a.m. ET.The pre-recorded remarks, transcript, press release, presentation slides, and live audio Q&A can be accessed at conagrabrands.com/investor-rel ...

Limited-Edition Pickleball Clothing and Accessories Available While Supplies LastCHICAGO, May 21, 2024 /PRNewswire/ -- Vlasic® Pickles, a brand of Conagra Brands, Inc. (NYSE: CAG), and Think Royln, the NYC-based accessory brand, are launching the "Think Pickle" collection. This unique line of pickleball gear and accessories will elevate your wardrobe on the court and off all summer long. Vlasic Pickles Vlasic Pickles Vlasic Pickles "We are excited to take on the latest craze in style with the 'Think P ...

Conagra Brands, Inc. (CAG) stands out as a testimony to strategic innovation and brand resilience amid the ever-evolving consumer goods landscape. The consumer packaged goods food company has been bolstering its portfolio with a diverse range of iconic brands, aligning perfectly with shifting consumer preferences.Shares of the company have rallied 13.9% in the past three months compared with the industry’s growth of 4.1%Factors Working WellConagra's commitment to innovation has been central to its success. ...