---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-000399"
form_type: "8-K"
ticker: "CAG"
cik: "0000023217"
company_name: "CONAGRA BRANDS INC."
filed_at: "2023-01-05T23:59:59+00:00"
generated_at: "2026-06-20T19:54:01.339054+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Conagra Q2 adj EPS $0.81 beats, net sales +8.3%; raises FY2023 guidance

## Summary
- Diluted EPS $0.79 (+38.6%), adjusted EPS $0.81 (+26.6%); net sales $3.3B (+8.3% organic +8.6%).
- Operating margin 16.6% (+320 bps), adjusted 17.0% (+237 bps); gross margin 27.8% (+316 bps).
- FY2023 guidance raised: organic net sales growth 7-8%, adjusted operating margin 15.3-15.6%, adjusted EPS $2.60-$2.70.
- Repurchased ~2.8M shares for ~$100M; quarterly dividend $0.33/share.

## SEC filing metadata
- accession: 0001437749-23-000399
- form_type: 8-K
- ticker: CAG
- cik: 0000023217
- company_name: CONAGRA BRANDS INC.
- filed_at: 2023-01-05T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/23217/000143774923000399/0001437749-23-000399-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/23217/000143774923000399/cag20221011_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-000399
- JSON: https://secwatch.observer/filing/0001437749-23-000399.json
- Plain text: https://secwatch.observer/filing/0001437749-23-000399.txt

## Key facts
- Earnings Releases
  CONAGRA BRANDS INC. reported fiscal 2023 results: EPS adjusted EPS between $2.60 and $2.70. Guidance raised.
  - Period: fiscal 2023
  - EPS: adjusted EPS between $2.60 and $2.70
  - Guidance: raised
  - Result: guidance update
  source text: The company is raising its fiscal 2023 guidance to reflect: ○ Organic net sales growth of 7% to 8% compared to fiscal 2022 ○ Adjusted operating margin between 15.3% and 15.6% ○ Adjusted EPS between $2.60 and $2.70 representing growth of 10% to 14% compared to fiscal 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/23217/000143774923000399/0001437749-23-000399-index.htm
- Earnings Releases
  CONAGRA BRANDS INC. reported second quarter fiscal 2023 results: revenue $3.3 billion, net income $382 million, EPS $0.79.
  - Period: second quarter fiscal 2023
  - Revenue: $3.3 billion
  - Net income: $382 million
  - EPS: $0.79
  - Result: reported results
  source text: In the quarter, net sales increased 8.3% to $3.3 billion. The increase in net sales primarily reflects: ● a 0.3% decrease from the unfavorable impact of foreign exchange; and ● an 8.6% increase in organic net sales. The 8.6% increase in organic net sales was driven by a 17.0% improvement in price/mix, which was partially offset by an 8.4% decrease in volume. Price/mix was driven by the company’s inflation-driven pricing actions that were reflected in the marketplace throughout the quarter. The volume decrease was primarily a result of the elasticity impact from inflation-driven pricing actions; however, the elasticity impact was favorable to expectations. CONAGRA BRANDS Page 2 Gross profit increased 22.2% to $922 million in the quarter, and adjusted gross profit increased 21.7% to $933 million. Second quarter gross profit benefited from higher organic net sales and productivity, which more than offset the negative impacts of cost of goods sold inflation (including unfavorable commodity
  evidence_url: https://www.sec.gov/Archives/edgar/data/23217/000143774923000399/0001437749-23-000399-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.