Categories AlphaGraphs, Consumer, Earnings

CAG Earnings: Highlights of Conagra Brands’ Q3 2024 report

Conagra Brands, Inc. (NYSE: CAG), a leading provider of consumer packaged goods, on Thursday reported lower sales and adjusted profit for the third quarter of 2024.

Conagra Brands Q3 2024 earnings infographic

Net sales decreased 1.7% year-over-year to $3.03 billion in the February quarter. Organic net sales dropped 2.0%, hurt by the negative impact of unfavorable price/mix and a decline in volumes.

As a result, net income, adjusted for special items, decreased to $0.69 per share during the three months from $0.76 per share in the year-ago quarter. Unadjusted profit declined to $308.6 million or $0.64 per share in Q3 from $341.7 million or $0.71 per share in the same period of 2023.

Sean Connolly, CEO of Conagra Brands, said, “Our Q3 results demonstrate steady progress stemming from strong execution. Volume trends in our domestic retail business continued to improve as targeted investments, particularly in frozen, generated strong lifts and unit share gains. Outstanding progress on our cost savings initiatives allowed us to support strategic investments in our brands while sustaining margin recovery.”

Prior Performance

Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.

Most Popular

PG Earnings: Procter & Gamble Q3 profit climbs, beats estimates

Consumer goods behemoth The Procter & Gamble Company (NYSE: PG) announced financial results for the third quarter of 2024, reporting a double-digit growth in net profit. Sales rose modestly. Core

AXP Earnings: All you need to know about American Express’ Q1 2024 earnings results

American Express Company (NYSE: AXP) reported its first quarter 2024 earnings results today. Consolidated total revenues, net of interest expense, increased 11% year-over-year to $15.8 billion, driven mainly by higher

Netflix (NFLX) Q1 2024 profit tops expectations; adds 9.3Mln subscribers

Streaming giant Netflix, Inc. (NASDAQ: NFLX) Thursday reported a sharp increase in net profit for the first quarter of 2024. Revenues were up 15% year-over-year. Both numbers exceeded Wall Street's

Add Comment
Viewing Highlight