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.

Conagra Brands Q4 2022 earnings infographic

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

  • 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

WMT Earnings: All you need to know about Walmart’s Q2 2023 earnings results

Walmart Inc. (NYSE: WMT) reported second quarter 2023 earnings results today. Total revenue increased 8.4% year-over-year to $152.9 billion. Revenues grew 9.1% in constant currency. Consolidated net income attributable to

Rivian (RIVN) reaffirms production goals. Will it be a smooth ride?

The evolution of the electric vehicle industry accelerated in recent years even as innovations in battery technology and affordability brought EVs into the mainstream. Encouraged by the success of market

Pfizer (PFE): A look at the headwinds and tailwinds this pharma giant faces in the near term

Shares of Pfizer Inc. (NYSE: PFE) were down on Monday. The stock has dropped 15% year-to-date and there is a mixed sentiment surrounding the company’s growth prospects. Pfizer has benefited

Add Comment
Viewing Highlight