ConAgra Misses The Mark: Manufacturing Disruptions And Weak Sales Weigh Down Q1 Performance
Portfolio Pulse from Nabaparna Bhattacharya
ConAgra Brands, Inc. (NYSE:CAG) reported disappointing Q1 results, missing both earnings and sales expectations due to manufacturing disruptions and weak sales. The company reported adjusted EPS of 53 cents, below the expected 60 cents, and net sales of $2.79 billion, missing the $2.84 billion forecast. Organic net sales dropped 3.5%, impacted by price/mix and volume decreases. Manufacturing disruptions in the Hebrew National business cost approximately $27 million. Despite the weak performance, ConAgra reaffirmed its fiscal 2025 guidance. CAG shares fell 3.18% premarket.
October 02, 2024 | 12:40 pm
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NEGATIVE IMPACT
ConAgra Brands reported Q1 earnings below expectations, with EPS of 53 cents and net sales of $2.79 billion, missing forecasts. Manufacturing disruptions and weak sales contributed to the poor performance. Shares are down 3.18% premarket.
ConAgra's Q1 results missed analyst expectations for both earnings and sales, leading to a premarket share price drop of 3.18%. The negative impact from manufacturing disruptions and weak sales performance is significant, affecting investor sentiment negatively.
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