Recap: Conagra Brands Q3 Earnings

Shares of Conagra Brands CAG moved higher by 0.9% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share rose 25.53% year over year to $0.59, which beat the estimate of $0.58.

Revenue of $2,771,000,000 up by 8.45% year over year, which beat the estimate of $2,720,000,000.

Outlook

Q4 EPS expected between $0.49 and $0.55.

Conagra Brands hasn't issued any revenue guidance for the time being.

How To Listen To The Conference Call

Date: Apr 08, 2021

Time: 09:30 AM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/cag/mediaframe/44032/indexr.html

Price Action

Company's 52-week high was at $39.34

Company's 52-week low was at $30.12

Price action over last quarter: Up 10.21%

Company Overview

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.