Conagra Brands: Q2 Earnings Insights

Shares of Conagra Brands CAG decreased 1% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share rose 28.57% year over year to $0.81, which beat the estimate of $0.73.

Revenue of $2,995,200,000 rose by 6.18% from the same period last year, which beat the estimate of $2,990,000,000.

Looking Ahead

Conagra Brands said it sees Q3 adjusted EPS of $0.56-$0.60.

Details Of The Call

Date: Jan 07, 2021

Time: 09:30 AM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/cag/mediaframe/40407/indexr.html

Recent Stock Performance

52-week high: $39.34

Company's 52-week low was at $22.83

Price action over last quarter: down 3.23%

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, we estimate about 8% of fiscal 2020 sales were to the food-service channel, down from 10% if fiscal 2019 due to the pandemic.