Categories AlphaGraphs, Earnings, Retail
Conagra Brands (CAG) Q4 profit rises and beats estimates; revenue up 6%
Packaged Foods company Conagra Brands Inc. (NYSE: CAG) on Thursday said its fourth-quarter profit increased supported by a 6% revenue growth. Earnings came in above the consensus forecast while sales missed.
At $2.91 billion, fourth-quarter net sales were up 6% year-over-year. But the top line performance fell short of expectations. Organic sales benefited from an improvement in price/mix, aided by the company’s inflation-driven pricing actions that were reflected in the marketplace throughout the quarter and favorable brand mix.
Fourth-quarter net income, adjusted for special items, moved up to $0.65 per share from $0.54 per share in the same period of last year and topped expectations. Reported profit, meanwhile, declined to $158.9 million or $0.33 per share in the most recent quarter from $309.5 million or $0.64 per share in the fourth quarter of 2022.
Check this space to read management/analysts’ comments on Conagra Brands’ Q4 2022 earnings
“Throughout fiscal 2022 our team took decisive actions to offset inflation and invest in our business. I’m pleased that our brands continued to resonate with consumers, and we continued to grow share,” said Sean Connolly, chief executive officer of Conagra Brands.
Prior Performance
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
COST Earnings: A snapshot of Costco’s Q4 2023 financial results
Costco Wholesale Corporation (NASDAQ: COST), which operates a chain of membership warehouses, on Tuesday reported results for the fourth quarter of fiscal 2024. The company posted revenues of $78.9 billion
What to look for when McCormick & Co. (MKC) reports Q3 2023 earnings
Shares of McCormick & Company Inc. (NYSE: MKC) were down on Tuesday. The stock has fallen 19% over the past three months. The spices and seasonings maker is scheduled to report its
Cintas Corporation (CTAS) Q1 2024 Earnings: Key financials and quarterly highlights
Cintas Corporation (NASDAQ: CTAS) reported first quarter 2024 earnings results today. Revenue was $2.34 billion, up 8.1% from the same period last year. Organic revenue growth was also 8.1%. Net