Conagra Brands, Inc. (NYSE: CAG), a leading consumer packaged food company, reported lower sales and adjusted earnings for the third quarter of fiscal 2026. The top line exceeded analysts’ expectations, while earnings missed.
Net sales decreased 1.9% from last year to $2.79 billion in the third quarter, but came in slightly above expectations. Organic net sales increased 2.4%.
Adjusted earnings decreased to $0.39 per share in Q3 from $0.51 per share last year. Analysts were looking for a slightly higher earnings number for the latest quarter. Net income attributable to the company increased to $200 million or $0.42 per share from $145 million or $0.30 per share in the prior year period.
Sean Connolly, CEO of Conagra Brands, said, “In today’s evolving environment, our portfolio of iconic and insurgent brands is structurally advantaged as we deliver the on-trend attributes that consumers are seeking.”