Conagra Brands: Q3 Earnings Insights

Shares of Conagra Brands CAG rose around 5% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share decreased 7.84% over the past year to $0.47, which missed the estimate of $0.48.

Revenue of $2,555,000,000 lower by 5.62% year over year, which missed the estimate of $2,580,000,000.

Looking Ahead

Conagra said it now projects fiscal 2020 organic sales growth above the high end of its guidance range..

Details Of The Call

Date: Mar 31, 2020

Time: 01:02 AM ET

Webcast URL: https://78449.choruscall.com/dataconf/productusers/cag/mediaframe/36108/indexr.html

Recent Stock Performance

Company's 52-week high was at $35.59

Company's 52-week low was at $22.83

Price action over last quarter: down 15.31%

Company Description

Conagra Brands is a packaged food company that operates predominantly in the United States (92% of revenue and 94% of profits). It has a significant presence in the freezer aisle, with brands such as Marie Callender's, Healthy Choice, Banquet, and Birds Eye. Popular center-of-store brands include Duncan Hines, Hunt's, Slim Jim, Vlasic, Orville Redenbacher's, and Chef Boyardee. While the majority of revenue is sold into the U.S. retail channel, 11% of sales are to the food-service channel.