ConAgra Brands Q4 Highlights: 2.2% Sales Growth, EPS Beat, Margin Recovery & More
Portfolio Pulse from Nabaparna Bhattacharya
ConAgra Brands, Inc. (NYSE:CAG) reported Q4 FY23 sales growth of 2.2% to $2.973 billion, slightly missing the consensus of $2.990 billion. Adjusted EPS decreased 4.6% to $0.62, beating the consensus of $0.59. The company's Board of Directors approved an annual dividend increase from $1.32 to $1.40 per share. For FY24, ConAgra anticipates organic net sales growth of 1% and adjusted EPS of $2.70-$2.75, below the consensus of $2.85.
July 13, 2023 | 2:00 pm
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NEGATIVE IMPACT
ConAgra Brands reported a slight miss on Q4 sales but beat EPS estimates. The company increased its dividend and provided a FY24 outlook that is below consensus.
ConAgra's Q4 sales slightly missed estimates, which could negatively impact the stock. However, the company beat EPS estimates and increased its dividend, which are positive signals. The FY24 outlook is below consensus, which could also negatively impact the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100