Categories AlphaGraphs, Consumer, Earnings

Conagra Brands (CAG) Q4 profit jumps 58% beats estimates

Conagra Brands Inc. (NYSE: CAG) reported a 58% jump in earnings for the fourth quarter of 2020 as strong e-commerce growth, significant consumer trial, and solid repeat sales, and the initial launches of its fiscal 2021 innovation slate drove the top-line higher. The results exceeded analysts’ expectations.

Conagra Brands (CAG) reports Q4 2020 earnings

During the quarter, the company experienced elevated demand, which continued to make good progress on improving the overall business. Conagra’s business benefited from increased at-home eating in the fourth quarter as the elevated retail demand outweighed the reduced foodservice demand.

The company is providing guidance for first-quarter fiscal 2021 of organic net sales growth in the range of 10-13%, adjusted operating margin in the range of 17-17.5%, and adjusted EPS in the range of $0.54-0.59. The company remains on track to deliver its fiscal 2022 algorithm and remains committed to achieving its leverage target of 3.5-3.6 times by the end of fiscal 2021.

Take a look at our Retail articles here

Most Popular

Key highlights from Autodesk (ADSK) Q4 2021 earnings results

Autodesk, Inc. (NASDAQ: ADSK) today reported its fourth quarter financial results for the period ended January 31, 2021. Net income for the fourth quarter was $911.3 million, or $4.10 per

Infographic: Beyond Meat (BYND) reports wider Q4 loss; Revenue up 4%

Beyond Meat (NASDAQ: BYND), a specialist in plant-based meat substitutes, Thursday reported a wider loss for the fourth quarter, despite an increase in revenues. The numbers also missed the consensus

Virgin Galactic stock tanks on delayed test flight

Virgin Galactic (NYSE: SPCE) reported fourth-quarter 2020 financial results after the regular market hours on Thursday. The space tourism company reported zero revenue in the fourth quarter, compared to $529,000

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