Conagra Q4 loss $3.37 on $2B impairment; cuts dividend to $0.70/yr; guides FY2027 EPS $1.40-$1.50

CONAGRA BRANDS INC.

Q4 reported net sales $2.9B (+3.6% YoY); organic net sales flat; reported diluted loss per share $3.37 due to $2.0B non-cash goodwill and brand impairment charges.
Full year fiscal 2026: net sales $11.3B (-2.9%); reported diluted loss per share $4.00; adjusted EPS $1.72.
Dividend cut: quarterly dividend reduced to $0.175/share from $0.35, annualized rate $0.70; payable Sept 2, 2026 to holders of record July 30.
Fiscal 2027 guidance: organic net sales change (3)% to (1)%; adjusted operating margin 10.0%-10.5%; adjusted EPS $1.40-$1.50; net leverage target ~4.0x.
Net debt $7.1B, net leverage 3.83x at year end; free cash flow $979M vs $1.3B prior year.

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