Unveiling Conagra Brands (CAG) Q3 Outlook: Wall Street Estimates for Key Metrics

Core Viewpoint - Conagra Brands (CAG) is expected to report a decline in quarterly earnings and revenues, with earnings per share projected at $0.40, a decrease of 21.6% year-over-year, and revenues forecasted at $2.77 billion, down 2.6% from the previous year [1]. Earnings Estimates - The consensus EPS estimate has been revised 0.5% lower in the last 30 days, indicating a reevaluation by analysts [2]. - Changes in earnings estimates are crucial for predicting investor reactions, as empirical research shows a strong correlation between earnings estimate revisions and short-term stock performance [3]. Sales Projections - Analysts project 'Sales- Grocery & Snacks' to reach $1.15 billion, reflecting a year-over-year decline of 7.6% [5]. - 'Sales- Foodservice' is estimated at $258.40 million, indicating a slight increase of 0.9% year-over-year [5]. - 'Sales- International' is expected to be $223.59 million, showing a minimal decrease of 0.1% from the prior year [5]. - 'Sales- Refrigerated & Frozen' is projected at $1.14 billion, with a year-over-year increase of 2.1% [6]. Price/Mix Estimates - The consensus for 'Price/Mix - Foodservice' stands at 2.3%, down from 3.7% in the same quarter last year [6]. - 'Price/Mix - International' is expected to be 1.6%, compared to 4.4% reported in the previous year [6]. Adjusted Operating Profit Estimates - 'Adjusted Operating Profit (loss)- Grocery & Snacks' is estimated at $205.51 million, down from $242.40 million in the same quarter last year [7]. - 'Adjusted Operating Profit (loss)- Refrigerated & Frozen' is projected at $119.54 million, compared to $124.00 million a year ago [7]. - 'Adjusted Operating Profit (loss)- Foodservice' is expected to be $27.18 million, down from $28.60 million in the previous year [8]. - 'Adjusted Operating Profit (loss)- International' is estimated at $30.78 million, compared to $33.40 million reported last year [8]. Stock Performance - Shares of Conagra Brands have declined by 18.9% over the past month, while the Zacks S&P 500 composite has decreased by 6.2% [8]. - Conagra Brands holds a Zacks Rank 3 (Hold), suggesting it is expected to perform in line with the overall market in the near future [8].