Net income attributable to Conagra Brands decreased 64.8% to $165 million, or $0.34 per share, compared to last year. Adjusted EPS was $0.39, down 26.4% from last year.
The results beat expectations, sending the stock up over 1% in premarket hours on Wednesday.
In Q1, net sales in the Grocery & Snacks segment decreased 8.7% to $1.1 billion. Net sales for the Refrigerated & Frozen segment decreased 0.9% to $1.1 billion. Net sales in the International segment declined 18% to $212 million while net sales for the Foodservice segment dipped 0.8% to $264 million.
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For fiscal year 2026, the company expects organic sales growth to be down 1% to up 1% compared to fiscal year 2025. Adjusted EPS is expected to be $1.70-1.85.