Categories AlphaGraphs, Earnings, Retail

Conagra Brands (CAG) Q1 earnings beat estimates on higher revenues

Packaged Foods company Conagra Brands Inc. (NYSE: CAG) on Thursday said its first-quarter profit increased supported by a 10% revenue growth. Earnings also came in above the consensus forecast.

Conagra Brands Q1 2023 earnings infographic

At $2.90 billion, first-quarter net sales were up 9.5% year-over-year. Gross profit benefited from higher organic net sales and supply chain realized productivity which more than offset the negative impacts of cost of goods sold inflation of 15%, unfavorable operating leverage, and continued elevated supply chain operating costs.

First-quarter net income, adjusted for special items, moved up to $0.57 per share from $0.50 per share in the same period of last year and topped expectations. On an unadjusted basis, meanwhile, the company reported a net loss of $77.5 million or $0.16 per share, compared to a profit of $235.4 million or $0.49 per share in the prior-year quarter.


Check this space to read management/analysts’ comments on Conagra Brands Q1 2023 earnings


“The strength of our brands and continued execution of the Conagra Way playbook resulted in strong sales and adjusted operating profit during the first quarter. We continued to deliver improved service and productivity as we navigate ongoing inflationary pressures and industry-wide supply chain challenges,” said Sean Connolly, chief executive officer of Conagra Brands.

Prior Performance

  • Conagra Brands reports Q3 2022 earnings results
  • Conagra Brands Q2 2021
  • Conagra Brands (CAG) Q1 2021 Earnings Infograph

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

Most Popular

Earnings Preview: What to look for when Shopify reports Q3 results

Shopify Inc. (NYSE: SHOP) delivered an impressive financial performance in the first half of fiscal 2024, navigating a mixed consumer spending environment. The e-commerce firm looks poised to maintain the

Beyond Meat (BYND): A few points to note on the plant-based meat company’s 3Q24 performance

Shares of Beyond Meat, Inc. (NASDAQ: BYND) were down over 2% on Friday. The stock has dropped 11% over the past three months. The company reported its third quarter 2024

DBX Earnings: A snapshot of Dropbox’s Q3 2024 results

Dropbox, Inc. (NASDAQ: DBX) reported an increase in adjusted earnings for the third quarter of 2024. Revenues rose modestly during the quarter. The company, a leading cloud-based document management platform,

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top