Duncan Hines Parent ConAgra Brands' Q1: Flat Sales, EPS Beat, Inflation-Driven Pricing, Reaffirmed FY24 Guidance & More
Portfolio Pulse from Lekha Gupta
ConAgra Brands Inc reported Q1 FY24 sales of $2.90 billion, missing the consensus of $2.95 billion. Organic sales fell 0.3% Y/Y in Q1, led by a 6.6% Y/Y decline in volume. Adjusted EPS increased 15.8% to $0.66, beating the consensus of $0.60. The company reaffirmed FY24 organic net sales growth of 1% and adjusted EPS of $2.70-$2.75. CAG shares are trading higher by 0.62% at $26.69.

October 05, 2023 | 1:37 pm
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ConAgra Brands reported lower than expected Q1 FY24 sales but beat EPS expectations. The company reaffirmed its FY24 guidance.
Despite missing sales expectations, ConAgra Brands beat EPS estimates and reaffirmed its FY24 guidance, which likely contributed to the increase in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100