Companies and Brands
What to Watch For in Conagra Brands Earnings
Published:
Last Updated:
Conagra Brands Inc. (NYSE: CAG) is scheduled to release its fiscal second-quarter financial results before the markets open on Thursday. The Thomson Reuters consensus estimates are $0.55 in earnings per share (EPS) and $2.41 billion in revenue. In the same period of last year, the company said it had $0.55 in EPS and $2.17 billion in revenue.
In the prior quarter, Conagra said that it expected to see EPS in the range of $0.57 to $0.60, with net sales flat to slightly down, for the second quarter.
In the first quarter, net sales grew 1.7% and organic net sales, excluding the sale of the Trenton production facility, grew 1.2%, with growth in all four operating segments.
In terms of its segments, Conagra reported as follows:
- The Refrigerated & Frozen segment continued its momentum, with 3.2% net sales growth and organic net sales growth of 1.4%. The segment has delivered organic net sales growth for five consecutive quarters.
- Grocery & Snacks reported another quarter of organic net sales growth, led by the snacks businesses.
Excluding Wednesday’s move, Conagra had underperformed the broad markets, with its stock down 24% in the past 52 weeks. In just the past six months, the stock was down 25%.
A few analysts weighed in on Conagra ahead of the report:
Shares of Conagra were last seen up about 4% at $29.63 on Wednesday, with a consensus analyst price target of $39.92. The stock has a 52-week trading range of $28.41 to $39.43.
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.