8-K
filed July 13, 2023, 7:59 PM ET
ticker CAG
CIK 0000023217
earnings
confidence high
sentiment neutral
materiality 0.70
Conagra Q4 adj. EPS falls 4.6% to $0.62; dividend raised 6% to $1.40/share
CONAGRA BRANDS INC.
2023-FY EPS reported
$1.42
revenue$12,277,000,000
- Q4 GAAP EPS $0.08 (down 75.8% YoY) on $3.0B net sales (+2.2% organic); price/mix +9.9%, volume -7.7%.
- Full year FY2023 net sales $12.3B (+6.4%); adjusted EPS $2.77 (+17.4%); operating margin 8.8%.
- FY2024 guidance: organic sales growth ~1%, adj. EPS $2.70-$2.75, adj. operating margin 16%-16.5%.
- Board approved 6% dividend increase to $1.40 annual ($0.35 quarterly), payable Aug 31, 2023.
- Q4 operating margin declined 544 bps to 1.9% due to $345M brand impairment charges; adjusted margin down 39 bps to 14.6%.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
CONAGRA BRANDS INC. reported fourth quarter fiscal 2023 results: revenue $3.0 billion, net income $37 million, EPS $0.08 per diluted share.
- Period
- fourth quarter fiscal 2023
- Revenue
- $3.0 billion
- Net income
- $37 million
- EPS
- $0.08 per diluted share
- Result
- reported results
Exact text from the filing
operations - and remain committed to our long-term financial algorithm." Total Company Fourth Quarter Results In the quarter, reported and organic net sales increased 2.2% to $3.0 billion. The 2.2% increase was driven by a 9.9% improvement in price/mix, which was partially offset by a 7.7% decrease in volume. Price/mix was driven by the company’s inflation-driven
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
CONAGRA BRANDS INC. reported full year fiscal 2023 results: revenue $12.3 billion, EPS $1.42 per diluted share.
- Period
- full year fiscal 2023
- Revenue
- $12.3 billion
- EPS
- $1.42 per diluted share
- Result
- reported results
Exact text from the filing
For the full fiscal year, net sales increased 6.4% to $12.3 billion.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
CONAGRA BRANDS INC. reported fiscal 2024 results: EPS Adjusted EPS between $2.70 and $2.75. Guidance initiated.
- Period
- fiscal 2024
- EPS
- Adjusted EPS between $2.70 and $2.75
- Guidance
- initiated
- Result
- guidance update
Exact text from the filing
The Company is providing fiscal 2024 guidance to reflect: ○ Organic net sales growth of approximately 1% compared to fiscal 2023 ○ Adjusted operating margin between 16% and 16.5% ○ Adjusted EPS between $2.70 and $2.75
View on SEC.gov
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