Conagra Brands to Unveil New Innovations and Discuss Updated 2025 Outlook at CAGNY Conference

Core Viewpoint - Conagra Brands has updated its fiscal 2025 financial outlook due to temporary service constraints and foreign exchange impacts, while maintaining its long-term targets unchanged [3][4]. Fiscal 2025 Outlook Update - Customer service interruptions occurred in Q3 due to supply constraints on frozen meals containing chicken and frozen vegetables [3]. - Updated fiscal 2025 guidance includes: - Organic Net Sales Growth: ~(-2.0)% (previously near the midpoint of (1.5)% to flat) - Adjusted Operating Margin: ~14.4% (previously ~14.8%) - Adjusted EPS: ~$2.35 (previously $2.45 to $2.50) - Net Leverage Ratio: ~3.55x (previously ~3.4x) [3]. CEO Perspective - The CEO emphasized commitment to brand investment and innovation, noting strong demand despite recent service challenges [4]. Frozen Meals Containing Chicken - Manufacturing challenges at the primary facility for chicken used in frozen meals led to production halts and operational adjustments to restore quality [5]. - The facility is set for modernization upgrades, targeted for completion by the end of Q1 fiscal 2026, while maintaining reduced operations in the short term [6]. Frozen Vegetables - Strong demand in the frozen vegetable segment led to inventory depletion and out-of-stocks, prompting strict product allocation [7]. - The company is investing in increased surge capacity to meet sustained growth in demand [8]. CAGNY Conference Presentation - A presentation detailing Conagra's market position and financial guidance will be held on February 18, 2025, at 9:00 a.m. ET [2][9]. Company Overview - Conagra Brands is a leading branded food company in North America, with a portfolio that includes well-known brands and a focus on innovation [10]. - The company generated over $12 billion in net sales for fiscal 2024 [10].