Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 24, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-7275 Delaware 47-0248710 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Ide ...

Conagra Brands, Inc. (CAG) posted second-quarter fiscal 2025 results, wherein the top and bottom lines beat the Zacks Consensus Estimate while declining year over year. Despite a difficult consumer landscape, Conagra’s results were driven by strategic investments that delivered robust market share gains. Although momentum remains strong, management anticipates greater-than-expected inflation and adverse foreign exchange rates in fiscal 2025, prompting a revision to its fiscal 2025 guidance.CAG’s Quarterly P ...

For the quarter ended November 2024, Conagra Brands (CAG) reported revenue of $3.2 billion, down 0.4% over the same period last year. EPS came in at $0.70, compared to $0.71 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $3.14 billion, representing a surprise of +1.61%. The company delivered an EPS surprise of +2.94%, with the consensus EPS estimate being $0.68.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ho ...

Conagra Brands, Inc. (NYSE:CAG) Q2 2025 Earnings Conference Call December 19, 2024 9:00 AM ET Company Participants Melissa Napier - Head of IR Sean Connolly - CEO David Marberger - CFO Conference Call Participants Melissa Napier Good morning. This is Melissa Napier from Conagra Brands' Investor Relations. Thank you for listening to our prepared remarks for the Conagra Brands second quarter and first half fiscal 2025 earnings. At 9:30 eastern time this morning, we will hold a separate live question-and-answe ...

CONAGRA • B R A N D S • FY25 Q2 Earnings Presentation December 19, 2024 1 Legal Disclosure Note on Forward-Looking Statements This document contains forward-looking statements within the meaning of the federal securities laws. Examples of forward-looking statements include statements regarding the company's expected future financial performance or position, results of operations, business strategy, plans and objectives of management for future operations, and other statements that are not historical facts. ...

Conagra Brands (CAG) came out with quarterly earnings of $0.70 per share, beating the Zacks Consensus Estimate of $0.68 per share. This compares to earnings of $0.71 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.94%. A quarter ago, it was expected that this company would post earnings of $0.59 per share when it actually produced earnings of $0.53, delivering a surprise of -10.17%.Over the last four quarters, the company ha ...

Financial Performance - Reported net sales decreased 0.4% to $3.2 billion, while organic net sales increased 0.3%[4] - Reported diluted earnings per share (EPS) was $0.59, a 1.7% decrease, and adjusted EPS was $0.70, a 1.4% decrease[4] - Net income attributable to Conagra Brands, Inc. for the thirteen weeks was $284.5 million, a slight decrease of 0.6% compared to $286.2 million[43] - Net income attributable to Conagra Brands, Inc. for the twenty-six weeks was $751.3 million, an increase of 24.0% compared to $606.1 million[44] - Basic earnings per share for the twenty-six weeks increased by 23.6% to $1.57 from $1.27[44] - Net income for the quarter ending November 24, 2024, was $751.4 million, an increase from $606.1 million in the same period last year, representing a growth of approximately 24%[46] - Adjusted diluted EPS for Q2 FY25 was $0.70, representing a year-over-year increase of 22.3%[53] - Net income attributable to Conagra Brands, Inc. for Q2 FY25 was $284.5 million, a decrease of 0.6% from $286.2 million in Q2 FY24[67] Sales and Revenue - Net sales for the Grocery & Snacks segment increased 2.0% to $1.3 billion, driven by a 1.2% increase in organic net sales[11] - Net sales for the International segment decreased 12.9% to $243 million, impacted by M&A and foreign exchange[16] - Net sales for the thirteen weeks ended November 24, 2024, were $3,195.1 million, a decrease of 0.4% compared to $3,208.1 million for the same period last year[43] - For the twenty-six weeks ended November 24, 2024, net sales were $5,990.0 million, a decrease of 2.0% from $6,112.1 million[44] - Q2 FY25 total net sales for Conagra Brands reached $3,195.1 million, a year-over-year decrease of 0.4%[47] - Organic net sales for Q2 FY25 were $3,193.7 million, reflecting a 0.3% year-over-year increase[47] - The Grocery & Snacks segment reported net sales of $1,321.0 million, with a year-over-year increase of 2.0%[47] - Year-to-date organic net sales for FY25 totaled $5,970.8 million, with a year-over-year decrease of 1.5%[47] Expenses and Costs - Cost of goods sold for the same period was $2,348.4 million, down 0.6% from $2,361.5 million[43] - Selling, general, and administrative expenses increased by 11.5% to $444.1 million from $398.1 million[43] - The company incurred restructuring plans costs of $83.8 million in Q2 FY25, compared to $27.9 million in Q2 FY24[51] - The company incurred restructuring plans expenses of $79.2 million in Q2 FY25, compared to $0.8 million in Q2 FY24[67] - Brand impairment charges in Q2 FY25 amounted to $18.9 million, with no charges reported in Q2 FY24[67] - Legal matters resulted in expenses of $3.4 million, compared to $14.0 million in the previous year[68] Cash Flow and Debt - Free cash flow decreased by $102 million to $539 million compared to the prior year period[25] - The company ended the quarter with net debt of $8.4 billion, representing a 6.5% reduction in net debt year-over-year[26] - Total debt as of FY25 YTD was $8,463.6 million, with net debt at $8,426.2 million[63] - The company reported net cash flows from operating activities of $754.2 million, down from $854.6 million, a decrease of approximately 11.7%[46] - Free cash flow for FY25 YTD decreased by 15.9% to $538.8 million compared to $640.6 million in FY24 YTD[63] Margins and Profitability - Adjusted operating margin was approximately 14.8% for fiscal 2025 guidance, reflecting a decrease from the previous year[27] - Adjusted operating profit for Q2 FY25 was $490.1 million, with a year-over-year decrease of 4.0%[49] - The operating profit margin for Q2 FY25 was 12.6%, down from 14.0% in Q2 FY24[49] - The operating profit margin for Conagra Brands was 13.4% in Q2 FY25, down from 14.8% in the previous year, indicating a decline of 191 basis points[51] - Conagra Brands reported a total adjusted operating profit of $888.0 million for Q2 FY25, reflecting a year-over-year decrease of 10.7%[51] - The company reported an operating profit of $888.0 million for FY25 YTD, which is 13.4% of net sales[61] Tax and Interest - The effective tax rate was 17.8%, reflecting a $14.4 million tax benefit from the release of reserves on unrecognized tax benefits[23] - Net interest expense decreased 4.5% to $108 million due to a reduction in total debt[9] - Interest expense decreased slightly to $214.0 million from $219.3 million[68] - The income tax expense for Q2 FY25 was $61.5 million, down from $102.9 million in Q2 FY24[67] Assets and Equity - Total current assets increased to $3,205.4 million from $3,149.5 million, reflecting a rise of about 1.8%[45] - Current liabilities surged to $4,559.7 million, up from $3,241.8 million, indicating a significant increase of approximately 41%[45] - Cash and cash equivalents decreased to $37.4 million from $77.7 million, a decline of about 52%[46] - Total stockholders' equity rose to $8,800.7 million from $8,511.3 million, an increase of approximately 3.4%[45]

CHICAGO, Dec. 19, 2024 /PRNewswire/ -- Today Conagra Brands, Inc. (NYSE: CAG) reported results for the second quarter of fiscal year 2025, which ended on November 24, 2024. All comparisons are against the prior year fiscal period, unless otherwise noted.Highlights Reported net sales decreased 0.4%; organic net sales increased 0.3%. Reported operating margin was 12.6% representing a 138 basis point decrease. Adjusted operating margin was 15.3% representing a 57 basis point decrease. Reported diluted earnings ...

Conagra Brands, Inc. (CAG) is likely to register a decline in its top and bottom lines when it reports second-quarter fiscal 2025 earnings on Dec. 19. The Zacks Consensus Estimate for revenues is pegged at $3.1 billion, which suggests a decline of almost 2% from the prior-year quarter’s reported figure. The consensus mark for quarterly earnings has remained unchanged in the past 30 days at 68 cents per share. This indicates a decline of 4.2% from the year-ago quarter’s reported figure. CAG has a trailing fo ...

Comprehensive Data-Driven Report Identifies Top Five Areas Shaping the $91.3 Billion U.S. Frozen Food Market CHICAGO, Dec. 17, 2024 /PRNewswire/ -- The rise in GLP-1 use, appetites for spice and heat, and indulgent in-home dining experiences, are just some of the trends driving growth identified in Conagra Brands' second annual Future of Frozen Food 2025 report. This data-driven report reveals how consumer behaviors, generational preferences, and innovations are reshaping the $91.3 billion U.S. frozen food ...