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Conagra Brands Reports First Quarter Results

Today Conagra Brands, Inc. reported results for the first quarter of fiscal year 2020, which ended on August 25, 2019. All comparisons are against the prior-year fiscal period, unless otherwise noted. Certain terms used in this release, including "Organic net sales," "EBITDA," "Free cash flow," "Legacy Conagra," "Legacy Pinnacle," and certain "adjusted" results, are defined under the section entitled "Definitions." Effective as of the first quarter, the Company allocated the business components comprising the previous Pinnacle Foods reporting segment to the four Legacy Conagra reporting segments.

Highlights

  • First quarter net sales grew 30.3%, and organic net sales decreased 1.7%.
  • Diluted earnings per share from continuing operations (EPS) was $0.36 in the quarter; adjusted EPS of $0.43 benefitted from double-digit growth in...

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