safety risks; fluctuations in commodity prices and availability of raw materials and other inputs; fluctuations in market demand for Hormel's products; risks related to Hormel's ability to respond to changing consumer preferences; damage to Hormel's reputation or brand image; risks of litigation; risks associated with government regulation; risks related to trade policies, export and import controls, and tariffs; and the other risks and uncertainties described in Item 1A – Risk Factors of Hormel's most rece ...

Core Viewpoint - General Mills Inc. has lowered its fiscal 2026 sales outlook due to a challenging consumer environment, now expecting organic net sales to decline by 1.5% to 2% compared to the previous forecast of a decline of 1% to an increase of 1% [1] Group 1: Consumer Environment - The company attributes the decline to weak consumer sentiment, heightened uncertainty, and significant volatility affecting category growth and consumer purchasing patterns [1] - CEO Jeff Harmening noted that cereal, snacks, and dog food are experiencing the most significant impacts from the unstable consumer environment, driven by higher inflation, reductions in food aid benefits, and geopolitical uncertainty [2] Group 2: Financial Projections - Adjusted operating profit and adjusted diluted earnings per share are now expected to decrease by as much as 20% in constant currency, compared to the previous guidance of a decrease of up to 15% in constant currency [3] Group 3: Pricing Strategy - General Mills has lowered prices across approximately two-thirds of its North American retail business, which has resulted in an eight percentage point increase in volume where prices were reduced [4] - The company is also removing about 20% of its "least productive" products from the market [4] Group 4: Stock Performance - Following the announcement, the stock fell by 3.6% and has declined by 18% over the past year [5]

CAGNY 2026 A PROVEN GROWTH MODEL, POSITIONED TO REACCELERATE GROWTH February 17, 2026 FORWARD-LOOKING STATEMENTS This presentation and accompanying prepared remarks contain forward-looking statements. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws. Words, and variations of words, such as "will," "may," "expect," "would," "could," "might," "intend," "plan," "believe," "likely," "estimate," "anticipate," "objective," " ...

PresentationAndrew LazarBarclays Bank PLC, Research Division All right. If we could just find our seats, we'll kick off our next presentation. We're thrilled to welcome back Conagra Brands to the CAGNY stage. Please first join me in thanking Conagra for again generously sponsoring yesterday evening's reception. Conagra is in a very different place this year, having moved past much of the supply chain issues from a year ago, and now seeing underlying business momentum moving in the right direction. So too i ...

PresentationSteven StryculaT. Rowe Price Associates, Inc. And now, in good keeping with CAGNY tradition that spans more than 4 decades, we begin with the conference with General Mills. Today, we are pleased to welcome Chairman and CEO, Jeff Harmening; and CFO, Kofi Bruce. This is an important moment for General Mills as the company continues to make solid progress in improving organic growth, improving its affordability to the consumer and thoughtfully reshaping its portfolio. Please join me in thanking Ge ...

Conagra Brands 2026 Conference Summary Company Overview - **Company**: Conagra Brands (NYSE:CAG) - **Revenue**: $12 billion in organic net sales, with 92% of revenue generated in the United States [2][6] - **Market Position**: Competes in attractive categories such as frozen food, staples, and snacks, with 81% of revenue from market-leading brands [3][4] Core Business Insights - **Consumer Domains**: Focus on three domains: frozen, staples, and snacks, with frozen and snacks representing about 70% of revenue [5][6] - **Brand Portfolio**: Emphasis on diverse brands catering to various consumer preferences, including premium and value-oriented options [3][4] - **Innovation Focus**: Investments in product and packaging innovation, particularly in health and wellness [7][8] Financial Performance - **Growth Metrics**: 75% of the frozen and snacks portfolio is holding or gaining market share; frozen business has rebounded to 98% service levels after supply interruptions [9][10][60] - **Sales Growth**: Snacks reported a 5.3% growth quarter to date, outperforming broader snack categories [10] - **Cost Management**: Forecasting 5% cost savings as a percentage of cost of goods sold, with a focus on cash flow and capital allocation [60][61] Consumer Trends - **Diverse Consumer Base**: Notable shifts in consumer demographics, with a shrinking middle class and increased purchasing power among lower and upper-income consumers [18][19] - **Gen Z Preferences**: Gen Z consumers are driving demand for bold flavors, international foods, and on-the-go products [20][21] - **Health and Wellness**: Growing focus on health attributes in food, with a significant portion of the portfolio qualifying as "Clean Label" [8][31] Strategic Initiatives - **Superior Relative Provocativeness**: A framework for driving category growth and brand vitality by optimizing product offerings for diverse consumer sets [12][11] - **Project Catalyst**: A multi-year initiative aimed at modernizing operations and leveraging AI for improved performance [64][65] Future Outlook - **Guidance for Fiscal 2026**: Organic net sales expected to range from -1% to +1% compared to fiscal 2025, with adjusted operating margin projected between 11%-11.5% [62][63] - **Long-term Confidence**: Affirmation of long-term financial performance metrics, with expectations for continued top-line momentum and margin recovery [66] Key Innovations - **Product Launches**: Introduction of new products across various brands, including high-protein options and plant-based alternatives, to meet evolving consumer demands [35][41][46] - **Marketing Strategies**: Emphasis on digital and social media marketing to engage consumers and drive brand relevance [7][48] Conclusion - **Positioning**: Conagra Brands is well-positioned to navigate the dynamic food industry landscape, leveraging its diverse portfolio, innovative strategies, and strong financial management to drive growth and meet consumer needs [66]

SEAN CONNOLLY P R E S I D E N T A N D C H I E F E X E C U T IV E O FF I C E R C A G N Y 2026 1 Legal Disclosure Note on Forward-Looking Statements The presentation contains forward-looking statements regarding our expected future financial performance or position, results of operations, business strategy, plans and objectives, costs and cost savings, and dividends, and other statements that are not historical facts. Readers of this document should un derstand that these forward-looking statements are not gu ...

General Mills's stock was set to fall after the full-year profit and sales outlook were lowered, as the consumer recovery has been slower and has cost more than expected. ...

Partnership with City of Sioux Falls and State of South Dakota Represents Defining Investment in American AgricultureSIOUX FALLS, S.D., Feb. 16, 2026 (GLOBE NEWSWIRE) -- Smithfield Foods, Inc. (Nasdaq: SFD), an American food company and an industry leader in value-added packaged meats and fresh pork, today announced it has initiated the approval process to build a new state-of-the-art packaged meats and fresh pork processing facility in Sioux Falls, South Dakota. The new facility, which is subject to permit ...

Core Viewpoint - Conagra Brands Inc. reaffirms its fiscal 2026 guidance ahead of the 2026 CAGNY presentation, highlighting expected financial performance and new product innovations for the year [1]. Financial Guidance - Adjusted EPS is projected to be between $1.70 and $1.85 [1]. - Adjusted operating margin is expected to be approximately 11.0% to 11.5% [1]. - Organic net sales change is forecasted to range from a decline of 1% to an increase of 1% compared to fiscal 2025 [1]. - Free cash flow conversion is now anticipated to be around 100% for the full year, an increase from the previous estimate of approximately 90% [1]. Company Overview - Conagra Brands is one of North America's leading branded food companies, with a history of over 100 years in quality food production [1]. - The company generated nearly $12 billion in net sales for fiscal 2025 [1]. - Conagra's brand portfolio includes well-known names such as Birds Eye®, Duncan Hines®, Healthy Choice®, and Slim Jim® [1].