— Conagra Brands (NYSE: CAG) reported adjusted earnings of $0.63 per share for the second quarter of 2020, vs. $0.57 per share expected.
— Net income attributable to Conagra Brands increased to $260.5 million or $0.53 per share from $131.6 million or $0.31 per share last year
— Second-quarter net sales increased 18.3% to $2.82 billion, vs. $2.8 billion expected; organic net sales increased by 1.6%
— The integration of Pinnacle remained on-track, with around $42 million of incremental cost synergies realized during the quarter
— Updated total targeted annual cost synergies for the Pinnacle acquisition from $285 million to $305 million, by the end of fiscal 2022
— Adjusted EBITDA increased 17.2% to $610 million in the quarter
— Expects organic net sales growth to be 1%-1.5% in fiscal 2020; sees full-year reported net sales growth between 12.4% and 12.9%
— Expects adjusted earnings from continuing operations to be in the range of $2.07 per share to $2.17 per share in fiscal 2020
— Looking for full-year free cash flow that is slightly below $1 billion, which is unchanged from the prior guidance
Most Popular
Southwest is looking northside as lockdown restrictions ease
When Warren Buffett dumped airline stocks suffering massive losses three weeks ago, he probably overlooked one key aspect about the industry – that no amount of restrictions will kill people’s
Alibaba (BABA) entering a new phase as China emerges from COVID crisis
Alibaba Group Holding Ltd (NYSE: BABA) is striving to regain strength after falling sharply last week, ahead of fourth-quarter earnings. The positive results failed to impress stakeholders as market sentiment
Chinese exodus from US exchanges not an unlikely scenario
The US is now back in the ring with its nemesis China for the second round. This time, the US administration has wasted no time in delivering a massive blow,