Conagra Brands: Q3 Earnings Insights
Shares of Conagra Brands (NYSE:CAG) rose around 5% in pre-market trading after the company reported Q3 results.
Quarterly Results
Earnings per share decreased 7.84% over the past year to $0.47, which missed the estimate of $0.48.
Revenue of $2,555,000,000 lower by 5.62% year over year, which missed the estimate of $2,580,000,000.
Looking Ahead
Conagra said it now projects fiscal 2020 organic sales growth above the high end of its guidance range..
Details Of The Call
Date: Mar 31, 2020
Time: 01:02 AM ET
Webcast URL: https://78449.choruscall.com/dataconf/productusers/cag/mediaframe/36108/indexr.html
Recent Stock Performance
Company's 52-week high was at $35.59
Company's 52-week low was at $22.83
Price action over last quarter: down 15.31%
Company Description
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, 11% of sales are to the food-service channel.
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