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!

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