Conagra Brands, Inc. (NYSE: CAG) reported its first quarter 2024 earnings results today.
Net sales of $2.90 billion were flat compared to the same period a year ago. Organic sales dipped 0.3%.
Net income attributable to Conagra Brands was $320 million, or $0.67 per share compared to a net loss of $77.5 million, or $0.16 per share in the prior-year quarter. Adjusted net income increased 15% to $316 million, or $0.66 per share.
Earnings beat expectations but sales fell short.
For fiscal year 2024, organic net sales are expected to grow approx. 1% year-over-year. Adjusted EPS is expected to be $2.70-2.75.
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The stock dropped over 1% in premarket hours on Thursday following the announcement.
Prior performance
