Conagra Q1 adjusted EPS $0.66, +15.8% YoY; reaffirms FY2024 outlook

CONAGRA BRANDS INC.

2024-Q1 EPS reported $0.67 revenue$2,904,000,000

Net sales flat at $2.9B; organic net sales -0.3% (volume -6.6%, price/mix +6.3%).
Diluted EPS $0.67 vs loss of $0.16 prior year; adjusted EPS $0.66 (+15.8%).
Adjusted gross margin +272 bps to 27.6%; adjusted operating margin +297 bps to 16.7%.
Segment adjusted operating profit growth: Grocery & Snacks +3.8%, Refrig/Frozen +14.7%, International +57.8%, Foodservice +87.5%.
Reaffirmed FY2024: adj. EPS $2.70-$2.75, adj. op. margin 16.0-16.5%, organic sales growth ~1%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

CONAGRA BRANDS INC. reported the first quarter of fiscal year 2024, which ended on August 27, 2023 results: revenue $2.9 billion, net income $320 million, or $0.67 per diluted share, EPS $0.67. Guidance reaffirmed.

Period: the first quarter of fiscal year 2024, which ended on August 27, 2023
Revenue: $2.9 billion
Net income: $320 million, or $0.67 per diluted share
EPS: $0.67
Guidance: reaffirmed
Result: reported results

Exact text from the filing

confidence in our plans, people and agility as we continue to navigate a shifting consumer environment." Total Company First Quarter Results In the quarter, net sales were $2.9 billion reflecting: ● a 0.3% increase from the favorable impact of foreign exchange; and ● a 0.3% decrease in organic net sales. The 0.3% decrease in organic net sales was driven by a

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Source: SEC EDGAR

accession 0001437749-23-027741

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