Conagra Brands Inc

NYSE:CAG   3:59:58 PM EDT
-0.46 (-1.21%)
4:00:00 PM EDT: $37.55 +0.01 (+0.03%)
Other Pre-Announcement

Conagra Brands Reports Strong First Quarter Results

Published: 10/01/2020 11:55 GMT
Conagra Brands Inc (CAG) - Conagra Brands Reports Strong First Quarter Results.
Q1 Adjusted Earnings per Share $0.70.
Q1 Earnings per Share $0.67 From Continuing Operations.
Q1 Earnings per Share Estimate $0.57 -- Refinitiv Ibes Data (analyst estimates).
Sees Q2 Adjusted Earnings per Share $0.70 to $0.74.
Q1 Sales $2.7 Billion Versus Refinitiv Ibes Estimate of $2.61 Billion.
Q1 Earnings per Share $0.67.
All Four of Company's Segments Reported Margin Expansion in Quarter.
Qtrly Total Company Operating Margin Increased 800 Basis Points to 19.0%.
Net Sales for the Grocery & Snacks Segment Increased 16.0% to $1.1 Billion in the Quarter.
Sees Q2 Organic Net Sales Growth is Expected in Range of +6% to +8%.
Net Sales for the Refrigerated & Frozen Segment Increased 17.9% to $1.1 Billion in the Quarter.
Reaffirming Its Fiscal 2022 Algorithm.
Conagra Brands - Continues to Expect Demand in Retail to Remain Elevated and Demand in Foodservice to Remain Challenged Versus Historical Norms.
Total Debt of $9.6 Billion and Net Debt of $9.2 Billion As of End of Q1 of Fiscal 2021.