Core Insights - Smithfield Foods Hunger Relief Day at the N.C. State Fair has successfully raised enough food to provide 150,000 meals for those facing hunger in North Carolina for the fifth consecutive year [1][3]. Group 1: Event Impact - The event collected six cans of food from fairgoers in exchange for free admission, resulting in 16 truckloads of food being donated [3]. - Since its inception in 1993, the N.C. State Fair's Hunger Relief Day has raised over 6.7 million pounds of food [6]. Group 2: Hunger Crisis Context - North Carolina is experiencing a severe hunger crisis, with over 1.6 million residents, or 1 in 7 people, uncertain about their next meal [3]. - The Food Bank of Central & Eastern North Carolina serves as a central hub for over 700 partner programs across a 34-county region, addressing food insecurity [8]. Group 3: Company Commitment - Smithfield Foods has a long-standing partnership with the N.C. State Fair and the Food Bank, emphasizing their commitment to providing access to nutritious food for families in need [5]. - Smithfield's hunger relief program, Helping Hungry Homes, has delivered hundreds of millions of servings of protein across all 50 U.S. states since 2008, including over 25 million servings valued at nearly $28 million in 2024 [6].

Core Insights - Conagra Brands, Inc. reported first-quarter fiscal 2026 results with both revenue and earnings exceeding Zacks Consensus Estimates, although both metrics showed a year-over-year decline [1][12] Financial Performance - Adjusted earnings per share (EPS) were 39 cents, surpassing the Zacks Consensus Estimate of 33 cents, but reflecting a 26.4% decline year over year [2] - Net sales totaled $2,632.6 million, down 5.8% year over year, yet exceeding the Zacks Consensus Estimate of $2,609 million [3] - Organic net sales decreased by 0.6%, with a 0.6% positive impact from price/mix offset by a 1.2% decline in volume [4] Profitability Metrics - Adjusted gross profit fell 11.3% to $644 million, with adjusted gross margin contracting 153 basis points to 24.4% [5] - Adjusted EBITDA was $441 million, down 16.4% year over year [6] Segment Performance - Grocery & Snacks segment reported net sales of $1,079.6 million, down 8.7% year over year, driven by a 7.7% adverse impact from M&A [7] - Refrigerated & Frozen segment saw net sales decrease by 0.9% year over year to $1,076.2 million, reflecting a 1.1% headwind from M&A [8] - International segment's net sales declined 18% year over year to $212.3 million, missing estimates due to a 13.2% unfavorable impact from M&A [9] - Foodservice segment reported sales of $264.5 million, down 0.8% year over year, with a 1.0% headwind from M&A [10] Financial Health - The company ended the quarter with cash and cash equivalents of $698.1 million and long-term debt of $7,222.6 million [13] - For fiscal 2026, Conagra projects EPS between $1.70 and $1.85 and organic growth between -1% and 1% [12][15] Dividend Declaration - Conagra declared a quarterly dividend of 35 cents per share, payable on November 26, 2025 [14]