secwatch.observer — SEC 8-K summary
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Issuer:     CONAGRA BRANDS INC. (CAG)
CIK:        0000023217
Form:       8-K
Filed at:   2024-01-04T23:59:59+00:00
Accession:  0001437749-24-000509
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Conagra Q2 EPS falls 24.1% to $0.60; cuts FY2024 guidance on slower volume recovery
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- Net sales $3.2B, down 3.2% YoY; organic net sales down 3.4% driven by 2.9% volume decline and 0.5% price/mix decrease.
- Adjusted EPS $0.71 (down 12.3%); operating margin fell 261 bps to 14.0%; adjusted operating margin 15.9% (down 108 bps).
- Grocery & Snacks down 4.1%; Refrigerated & Frozen down 5.8%; International net sales up 8.1% but op. profit down 84% on impairment.
- FY2024 guidance lowered: organic net sales -1% to -2% YoY; adjusted EPS $2.60-$2.65; adjusted operating margin ~15.6%.
- Management cites slower volume recovery; volumes in domestic retail improved, cutting decline in half vs Q1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/23217/000143774924000509/0001437749-24-000509-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/23217/000143774924000509/cag20231013_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-000509

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