Core Insights - Conagra Brands reported a double beat in its fiscal first quarter of 2026, leading to a share price increase of over 5%, outperforming the S&P 500's 0.3% rise [1] Financial Performance - Conagra's net sales decreased by nearly 6% year over year to $2.63 billion, attributed mainly to merger and acquisition activities, but slightly exceeded the average analyst estimate of $2.62 billion [2] - Non-GAAP adjusted net income fell by 25% to $189 million ($0.39 per share), influenced by the sales decline and loss of profits from divested businesses, yet surpassed the consensus projection of $0.33 per share [3] Strategic Actions - The company has been actively divesting assets, including the sale of the Chef Boyardee brand and other prepared food brands to different companies [4] Future Guidance - Conagra maintained its full-year guidance for fiscal 2026, expecting organic net sales growth to decline by 1% to increase by 1% compared to 2025, with adjusted earnings per share projected between $1.70 and $1.85 [5]