Conagra Brands Sees FY24 Organic Net Sales To Decrease 1.0%-2.0% (Prior View 1% Growth); Adjusted EPS Of $2.60-$2.65 (Prior $2.70-$2.75), Estimate $2.67
Portfolio Pulse from Benzinga Newsdesk
Conagra Brands has revised its FY24 guidance, expecting a decrease in organic net sales by 1.0%-2.0%, contrasting with the prior forecast of 1% growth. The company also adjusted its EPS projection to $2.60-$2.65, down from the previous estimate of $2.70-$2.75, which is below the analyst consensus of $2.67.
January 04, 2024 | 12:37 pm
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Conagra Brands has lowered its FY24 organic net sales and EPS forecasts, indicating a potential decline in financial performance compared to previous expectations.
The downward revision in both sales and EPS guidance by Conagra Brands is likely to be perceived negatively by investors, as it suggests a less optimistic financial outlook than previously anticipated. This could lead to a decrease in investor confidence and a potential short-term decline in the stock price.
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