Categories Analysis, Consumer

What to expect when Conagra Brands (CAG) reports its Q4 2024 earnings results

The consensus estimate for EPS in Q4 2024 is $0.57

Shares of Conagra Brands, Inc. (NYSE: CAG) stayed green on Monday. The stock has dropped 4% over the past one month. The branded foods company is scheduled to report its fourth quarter 2024 earnings results on Thursday, July 11, before markets open. Here’s a look at what to expect from the earnings report:

Revenue

Analysts are projecting revenue of $2.93 billion for Conagra in Q4 2024, which represents a 1% dip from the same period last year. In the third quarter of 2024, sales decreased nearly 2% year-over-year to $3 billion.

Earnings

The consensus estimate for EPS in Q4 2024 is $0.57, which compares to adjusted EPS of $0.62 reported in the prior-year quarter. In Q3 2024, adjusted EPS decreased 9% YoY to $0.69.

Points to note

Last quarter, Conagra’s top line was impacted by a decrease in volume, caused by lower consumption trends, and a negative impact from price/mix. However, as mentioned on its quarterly call, the company seems to be seeing a sequential improvement in volume, with the momentum continuing into the fourth quarter.

Conagra remains confident in further volume recovery, based on consumption trends across its key categories. Its portfolio has remained resilient with most of its brands holding or gaining unit share. These trends could have an impact on the fourth quarter performance.

In Q3, sales in the Grocery and Snacks segment benefited from improved price mix while Refrigerated and Frozen segment sales declined due to a rise in strategic investments in the frozen business. The International segment’s results benefited from a strong performance in the Mexico business while volume declines negatively impacted sales in the Foodservice segment.

Conagra’s continued investments in its brands and its efforts in reducing costs are expected to help drive volume improvement and higher margins.

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