Conagra Brands (CAG) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Conagra Brands reported revenue of $2.79 billion for the quarter ended August 2024, a year-over-year decline of 3.8% and an EPS of $0.53 compared to $0.66 a year ago [1] - The revenue fell short of the Zacks Consensus Estimate of $2.84 billion, resulting in a surprise of -1.57%, while the EPS also missed the consensus estimate of $0.59 by -10.17% [1] Financial Performance Metrics - Net Sales growth in Grocery & Snacks was -1.7%, slightly worse than the estimated -1.6% [2] - Net Sales growth in Refrigerated & Frozen was -5.7%, compared to the estimated -3.2% [2] - Price/Mix for Foodservice was 3.2%, below the estimated 3.8% [2] - Organic Volume for Foodservice decreased by -11.1%, worse than the estimated -7.5% [2] - Price/Mix for International was 2.4%, exceeding the estimated 0.2% [2] - Organic Volume for International was 0.6%, below the estimated 1.2% [2] - Price/Mix for Refrigerated and Frozen was -5.8%, compared to the estimated -3.3% [2] - Net Sales growth in Foodservice was -7.8%, worse than the estimated -3.7% [2] - Sales in Grocery & Snacks were $1.18 billion, matching the average estimate [2] - Sales in Foodservice were $266.70 million, below the average estimate of $278.86 million [2] - Sales in International were $259.10 million, slightly below the estimated $260.36 million [2] - Sales in Refrigerated & Frozen were $1.09 billion, below the average estimate of $1.11 billion [2] Stock Performance - Shares of Conagra Brands have returned +2.5% over the past month, outperforming the Zacks S&P 500 composite's +1.2% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]