Categories AlphaGraphs, Consumer, Earnings

Conagra Brands (CAG) tops Q1 2021 estimates; stock advances

Conagra Brands’ (NYSE: CAG) earnings and sales in the first quarter of fiscal 2021 surpassed the market’s estimates. Adjusted earnings grew 62.8% to $0.70 per share and sales increased 12.1% to $2.7 billion in Q1. The company’s earnings outlook for the second quarter of 2021 was in line with the analysts’ views. CAG stock rose about 2% in the pre-market trading hours.

Conagra Brands (CAG) Q1 2021 Earnings Infograph

“We exceeded our expectations on net sales, profitability, and de-leveraging, and continued to make investments to ensure the physical availability of our products, maintain momentum with consumers, and build brand health,” said CEO Sean Connolly.

For the second quarter of fiscal 2021, Conagra expects adjusted EPS to be between $0.70 and $0.74. Organic net sales growth is estimated to be in the range of 6% to 8%.

The company reaffirmed its fiscal 2022 algorithm; adjusted EPS of $2.66 to $2.76 and organic net sales growth (3-year CAGR ending fiscal 2022) of 1% to 2%.

Most Popular

United Parcel Service (UPS) seems on track to regain lost strength

Cargo giant United Parcel Service, Inc. (NYSE: UPS) ended fiscal 2023 on a weak note, reporting lower revenues and profit for the fourth quarter. The company experienced a slowdown post-pandemic

IPO Alert: What to look for when Boundless Bio goes public

Boundless Bio is preparing to debut on the Nasdaq stock market this week, and become the latest addition to the list of biotech firms that have launched IPOs this year.

Nike (NKE) bets on innovation and partnerships to return to high growth

Sneaker giant Nike, Inc. (NYSE: NKE) has been going through a rough patch for some time, with sales coming under pressure from weak demand and rising competition. Post-pandemic, the company

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