Conagra Brands, Inc. (NYSE: CAG) reported second quarter 2024 earnings results today.
Net sales decreased 3.2% year-over-year to $3.21 billion. Organic net sales decreased 3.4%.
Net income attributable to Conagra Brands decreased 25.1% to $286 million, or $0.60 per share compared to the prior-year quarter. Adjusted net income decreased 12.9% to $341 million, or $0.71 per share.
Earnings beat estimates while revenue fell short.
For fiscal year 2024, the company expects organic net sales to decrease 1-2% compared to fiscal year 2023. Adjusted EPS is expected to be $2.60-2.65.
The stock dropped 2% in premarket hours on Thursday.