Stock Market

ConAgra Brands Q2 profit beats estimates, lowers full-year earnings outlook

Investing | Fri, Dec 20 2024 01:43 AM AEDT

1695367561_650d4189d32c8_1692951951_64e8658fe70f4_breaking_news_600.png
Image Source: Sivastatz

Investing.com -- ConAgra Brands, Inc. (NYSE: CAG) reported second-quarter fiscal 2025 results that exceeded analyst expectations for both earnings and revenue but lowered its full-year earnings guidance.

The packaged food company posted adjusted earnings per share of $0.70, surpassing the analyst consensus of $0.68. Revenue came in at $3.2 billion, slightly above estimates of $3.15 billion. However, reported net sales decreased 0.4% YoY, while organic net sales increased 0.3%.

ConAgra updated its fiscal 2025 outlook, now projecting adjusted earnings per share between $2.45 and $2.50, below the analyst consensus of $2.58 and lower than its prior target of between $2.60 and $2.65. The company expects organic net sales near the midpoint of a range between -1.5% to flat compared to fiscal 2024.

Sean Connolly, President and CEO of ConAgra Brands, commented, "Our business returned to growth in the second quarter despite a continued challenging consumer environment as our investments paid off, driving strong market share performance. While momentum remains strong, we expect the business to be impacted by two headwinds in the back half, including higher than expected inflation and unfavorable foreign exchange rates, leading us to update our fiscal 2025 outlook."

The company's Grocery&Snacks segment saw a 2.0% increase in net sales to $1.3 billion, while the Refrigerated&Frozen segment remained flat at $1.3 billion. The International segment experienced a 12.9% decrease in net sales to $243 million.

ConAgra's stock is down around 0.3% premarket.

This article first appeared in Investing.com

Stock Market

Buy Uber stock amid robotaxi noise: Oppenheimer

Investing.com -- Oppenheimer analysts identified Uber Technologies, Inc. (NYSE:UBER) as a top large-cap pick for 2025, emphasizing the current ...

Investing | Fri, Dec 20 2024 04:49 AM AEDT

Read More
PRNews

Saudi Arabia and ICR Sign Historic MoU at COP16 Riyadh - Framework for Nature Based Solutions

REYKJAVIK, Iceland, Dec. 20, 2024 /PRNewswire/ -- In a collaboration aimed at advancing global climate solutions, the National Center for Vegetation Cover ...

Cision | Fri, Dec 20 2024 04:32 AM AEDT

Read More
World News

Albertsons Companies Collected 100 Coats in Winter Coat Drive

Albertsons Companies associates held a winter coat drive across our Plano, Pleasanton and Arlington offices. The drive was a great ...

3BL | Fri, Dec 20 2024 04:30 AM AEDT

Read More
World News

Reflecting on 2024: BIER Tackling Interconnected Challenges Through Collaboration and Commitment

The past year, 2024, has been a defining moment for addressing critical global challenges such as climate change, biodiversity loss, water ...

3BL | Fri, Dec 20 2024 04:15 AM AEDT

Read More
World News

The Wall Street Journal Recognizes Bath & Body Works on Its Annual “Best Managed Companies” List

December 19, 2024 /3BL/ - Bath & Body Works announces its inclusion on the Wall Street Journal’s ranking of Best Managed ...

3BL | Fri, Dec 20 2024 04:00 AM AEDT

Read More