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].

Eagle, Idaho-based Lamb Weston Holdings, Inc. (LW) produces, distributes, and markets frozen potato products. Valued at $6.9 billion by market cap, the company offers fries, oven roasted potatoes, puffs, chips, slices, and prepared potato products. Shares of this french fry giant have underperformed the broader market over the past year. LW has declined 13% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 11.8%. However, in 2026, LW stock is up 18.9%,surpassing SPX’s margina ...

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Beyond Meat, Inc. securities between February 27, 2025, and November 11, 2025, of the March 24, 2026, deadline to become a lead plaintiff in a class action lawsuit [1]. Group 1: Class Action Details - Investors who bought Beyond Meat securities during the specified class period may be eligible for compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties can join by contacting Rosen Law Firm [3][6]. - To serve as a lead plaintiff, individuals must file a motion with the court by March 24, 2026 [3]. Group 2: Legal Representation - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a proven track record in securities class actions, highlighting their own success in this area [4]. - The firm has achieved significant settlements for investors, including over $438 million in 2019 alone, and has been recognized as a leader in securities class action settlements [4]. Group 3: Case Allegations - The lawsuit alleges that during the class period, Beyond Meat made materially false and misleading statements regarding the fair value of its long-lived assets, which could lead to a significant non-cash impairment charge [5]. - It is claimed that these misstatements impaired Beyond Meat's ability to file timely reports with the Securities and Exchange Commission, resulting in damages to investors when the truth was revealed [5].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Beyond Meat, Inc. securities between February 27, 2025, and November 11, 2025, of the March 24, 2026, deadline to become a lead plaintiff in a class action lawsuit [1]. Group 1: Class Action Details - Investors who bought Beyond Meat securities during the specified class period may be eligible for compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties can join by visiting the provided link or contacting the firm directly [3][6]. - The deadline to move the Court to serve as lead plaintiff is March 24, 2026, with the lead plaintiff representing other class members in the litigation [3]. Group 2: Legal Representation - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a proven track record in securities class actions, highlighting their own success and recognition in the field [4]. - The firm has achieved significant settlements for investors, including over $438 million in 2019 alone, and has been consistently ranked among the top firms for securities class action settlements [4]. Group 3: Case Allegations - The lawsuit alleges that during the class period, Beyond Meat made materially false and misleading statements regarding the book value of its long-lived assets, which likely exceeded their fair value, leading to potential impairment charges [5]. - It is claimed that these misstatements could impair Beyond Meat's ability to file timely reports with the Securities and Exchange Commission, resulting in damages to investors when the truth was revealed [5].

Core Insights - The company is undergoing a comprehensive review of its brand portfolio and operations to address current challenges and enhance growth potential [4][5][6] - The focus is on reinvigorating the Nature's Own brand and improving supply chain efficiency to stabilize and potentially grow the traditional loaf segment [12][16][43] - The review process is expected to be a multi-year effort, with ongoing evaluations of capital allocation and potential investments in brands [7][9][31] Brand Portfolio Review - The company is assessing the performance of its brand portfolio, particularly the traditional loaf category, which has been underperforming [1][4] - There is a recognition that while other segments are performing well, traditional loaf remains a significant challenge that needs to be addressed [12][16] - The review will consider potential divestitures or additional investments in brands to optimize the portfolio [31] Financial Strategy and Capital Allocation - The company is committed to maintaining a strong balance sheet while evaluating its capital structure and allocation strategies [9][10] - There is a focus on ensuring that capital expenditures align with strategic goals, particularly in light of the dividend commitments and overall financial health [8][21] - The company anticipates that the guidance for 2026 will reflect ongoing category challenges and inflationary pressures, while also factoring in investments in leading brands [5][18] Market Dynamics and Competitive Landscape - The traditional loaf market is experiencing pressures, with shifts towards premium and value offerings impacting sales [12][46] - The competitive environment remains stable, with no significant consolidation reported among competitors, although there is a noted shift in consumer preferences towards better-for-you products [44][46] - The company is strategically managing promotional activities to protect market share while being cautious about the limited expandable consumption in the category [47][48] Supply Chain and Operational Efficiency - The review includes a comprehensive evaluation of the supply chain, focusing on leveraging technology and optimizing distribution networks [28][29] - The company has previously closed several bakeries as part of ongoing operational reviews, indicating a proactive approach to managing capacity [28] - Enhancements in supply chain efficiency are seen as critical to addressing both demand for traditional loaf and fixed cost management [16][29]

Core Insights - Flowers Foods, Inc. (FLO) reported fourth-quarter fiscal 2025 results with adjusted earnings per share exceeding estimates, concluding the fiscal year at the high end of guidance due to strong brand performance and efficiency initiatives [1][11] Financial Performance - Adjusted diluted earnings per share for the quarter was 22 cents, flat year over year, surpassing the Zacks Consensus Estimate of 16 cents, benefiting from an extra week in the fiscal year [2][11] - Net sales increased by 11% year over year to $1,232.9 million, slightly above the Zacks Consensus Estimate of $1,232 million, driven by the additional week, Simple Mills acquisition, and favorable price/mix, despite volume declines in certain categories [3][11] - Branded retail sales rose 16.6% to $811.6 million, while other sales, including store-branded retail and foodservice, increased by 1.6% to $421.3 million [4] Cost and Margin Analysis - Gross margin, excluding depreciation and amortization, declined by 30 basis points year over year to 48.5%, primarily due to increased outside purchases related to the Simple Mills business model [5] - Selling, distribution, and administrative expenses were 39.9% of net sales, down 10 basis points from the prior year, with adjusted SD&A improving 60 basis points to 39% of sales due to efficiency initiatives [6] EBITDA and Debt Position - Adjusted EBITDA increased by 14.7% year over year to $117.4 million, representing 9.5% of net sales, with the Simple Mills acquisition contributing $57.5 million in net sales [7] - At the end of fiscal 2025, Flowers Foods had cash and cash equivalents of $12.1 million and long-term debt of $1.76 billion, with net debt to trailing 12-month adjusted EBITDA at approximately 3.3 times [8] Cash Flow and Shareholder Returns - Cash flow from operating activities for fiscal 2025 increased to $446.2 million, with capital expenditures totaling $127.1 million and dividends paid to shareholders amounting to $209.3 million [9] Fiscal 2026 Outlook - For fiscal 2026, Flowers Foods expects net sales between $5.163 billion and $5.267 billion, indicating a potential decline of 1.8% to an increase of 0.2% year over year, with adjusted EBITDA projected between $465 million and $495 million [13] - Management indicated that the guidance reflects one less week of operations, continued category headwinds, and inflationary pressures, describing 2026 as an investment and transition year focused on brand optimization and supply-chain enhancements [14]

Financial Data and Key Metrics Changes - The company produced results at the high end of its 2025 guidance range, but guidance for 2026 reflects ongoing category challenges and inflationary pressures [4] - The expected category decline is around 4%, with an additional 150 basis points of pressure from an extra week in the previous year [28] Business Line Data and Key Metrics Changes - The traditional loaf segment, particularly the Nature's Own brand, has been underperforming, which is a key focus area for revitalization [9][22] - The company is conducting a comprehensive review of its brand portfolio and supply chain to enhance efficiency and growth [8][10] Market Data and Key Metrics Changes - The competitive environment remains stable, with no significant changes in production capabilities among competitors [72] - Price per unit in the category increased slightly, likely due to a shift towards premium products [73] Company Strategy and Development Direction - The company is focused on navigating near-term challenges while laying the foundation for sustainable long-term growth [4] - A comprehensive review of operations, including brand portfolio and supply chain, is underway to strengthen execution and expand margins [4][10] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges posed by inflation and category performance but remains optimistic about the potential for growth in the traditional loaf segment [4][25] - The company is committed to maintaining a strong balance sheet and evaluating capital allocation, including the dividend policy [12][33] Other Important Information - Maintenance CapEx is estimated at around $2 million per bakery per year, with additional investments planned for growth initiatives [56] - The company is optimistic about Simple Mills, expecting double-digit growth in the upcoming year despite some disruptions in Q4 [59] Q&A Session Summary Question: Details on the comprehensive review of brands and operations - Management is in the early stages of a thorough review, focusing on brand support and investment needs, particularly for the Nature's Own brand [8][9] Question: Capital allocation and dividend policy - The company is reviewing its capital structure and dividend policy in light of its overall strategy and financial health [12][33] Question: Stabilizing the traditional loaf market - Management believes there is potential for stabilization and growth in the traditional loaf segment through strategic investments and innovation [22][25] Question: Impact of SNAP budget reductions and debt refinancing - The company is monitoring the effects of reduced SNAP budgets and is confident in its ability to refinance upcoming debt maturities [38][40] Question: Supply chain review and potential bakery consolidation - The review includes evaluating bakery operations and leveraging technology for efficiency, with ongoing assessments of production capabilities [48] Question: Changes in competition and promotional strategies - The competitive landscape remains stable, and the company is cautious with promotional activities, focusing on trial and repurchase rather than volume gains [75]

Financial Data and Key Metrics Changes - The company produced results at the high end of its 2025 guidance range, but guidance for 2026 reflects ongoing category challenges, inflationary pressures, and one fewer week in the fiscal year [4] - The company is conducting a comprehensive review of operations, including brand portfolio and financial strategy, to strengthen execution and position for top-line growth and margin expansion [4][10] Business Line Data and Key Metrics Changes - The traditional loaf segment, particularly the Nature's Own brand, has been underperforming, which has downstream effects on operating leverage [9][24] - The company is focused on reinvigorating the Nature's Own brand to generate demand and improve performance in the traditional loaf category [10][24] Market Data and Key Metrics Changes - The overall category is expected to be down 4%, with the company anticipating a rational approach to navigate headwinds [27] - The competitive environment remains normal, with no major uptick in bakery consolidation, and price per unit in the category has increased slightly due to a shift towards premium products [72] Company Strategy and Development Direction - The company is focused on navigating near-term challenges while laying the foundation for sustainable long-term growth [4] - A comprehensive review of capital allocation is underway, with a focus on maintaining a strong balance sheet and evaluating the dividend in light of the capital structure [13][32] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges posed by inflation and changing consumer preferences, particularly in the traditional loaf segment [21][74] - The company is optimistic about the potential for growth in the Simple Mills brand, expecting double-digit growth next year despite recent disruptions [59] Other Important Information - The company is reviewing its supply chain and distribution network to enhance efficiency and reduce costs [47] - There is an ongoing evaluation of the brand portfolio, which may include potential divestitures, but no concrete plans are currently in place [50] Q&A Session Summary Question: Details on the comprehensive review of brands and operations - Management is in the early stages of a comprehensive review, focusing on brand portfolio support and areas needing investment, particularly in traditional loaf [8][11] Question: Capital allocation and dividend considerations - The company is reviewing its capital structure and dividend commitments, emphasizing the importance of shareholder value [12][30] Question: Stabilizing the traditional loaf market - Management believes that traditional loaf remains important, and they are focused on strategies to reinvigorate demand for Nature's Own [21][24] Question: Factors impacting the 2026 outlook - The company is considering various factors, including SNAP budget reductions and potential impacts from a Supreme Court case, in its 2026 guidance [34][37] Question: Supply chain review and potential bakery consolidation - The supply chain review includes evaluating production capabilities, but no major consolidation is currently planned [46][72] Question: Changes in brand investment strategy - The company has ramped up brand investment and innovation, particularly focusing on traditional loaf to address current market challenges [68][70]

Group 1 - Hormel Foods Corporation is recognized as one of the 13 Cheapest Dividend Aristocrats to invest in [1] - Stephens has reduced its price target for Hormel Foods to $25 from $27, maintaining an Equal Weight rating due to near-term margin pressures [2] - The company's gross profit margin is reported at 15.7%, indicating ongoing pressure despite expectations for earnings improvement this year [2][3] Group 2 - Analysts have raised earnings estimates for Hormel for the upcoming period, with guidance suggesting earnings improvement as 2026 approaches [3] - USDA data indicates higher hog slaughter levels and heavier weights in the spring and summer, which may alleviate some input cost pressures [3] - Hormel's scale provides a competitive advantage, with net sales exceeding $3 billion and GAAP net income around $184 million in the third quarter, although profits fell short of Wall Street expectations [4]

（深交所互动易） 2月12日，好想你在投资者互动平台上表示，公司与胖东来渠道合作稳步推进，红枣及健康锁鲜食品等产品已在其渠 道实现覆盖，并持续提升终端运营效率和消费者触达。 ...