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...

Conagra Brands Inc Recalls Canned Beef Products

Conagra Brands, Inc., a Milton, Pa. establishment, is recalling approximately 32,400 pounds of canned beef products due to a potential processing defect, resulting in the potential survival of bacterial pathogens in the products, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today.

The canned beef items were produced on July 18, 2019. The following products are subject to recall...

Gardein Adds New Items to its Plant-Based Line-up

Gardein, a brand of Conagra Brands, Inc. (NYSE: CAG) is answering the growing demand for plant-based food by expanding its line of meat-free dishes, including new items that feature pea and wheat protein. In the past, meat substitutes were mostly tailored to vegans and vegetarians. Now more than ever, people are seeking a flexitarian diet due to a variety of lifestyle and dietary needs including animal welfare, health and sustainability.

"Fifty two percent of households purchase plant-based foods and more than 60 percent..."

Conagra Brands Launches Robust Pipeline Of New Food Innovation

Continuing its focus on bringing provocative food in contemporary forms and flavors to retail customers and consumers, innovation at Conagra Brands, Inc. (NYSE: CAG) is ramping up. The company is kicking off its fiscal year with dozens of new product launches across the four domains in which its iconic and emerging brands compete: Frozen & Refrigerated Meals, Snacks & Sweet Treats, Condiments & Enhancers, and Shelf Stable Meals & Sides. 

"Conagra Brands has been reinventing frozen meals to drive growth since 2015, and our efforts are fueling the entire category," said Darren Serrao...

Conagra Brands Reports Fourth Quarter And Full-Year Results 

Today Conagra Brands, Inc. (NYSE: CAG) reported results for the fourth quarter and full fiscal year 2019, which ended on May 26, 2019. All comparisons for total Company and Legacy Conagra results are against the prior-year fiscal period, unless otherwise noted. Certain terms used in this release, including "Organic net sales," "Legacy Conagra," "EBITDA," "Free cash flow," and certain "adjusted" results, are defined under the section entitled "Definitions." 

Highlights 

- Fiscal 2019 net sales grew 20.2%; organic net sales excluding the sale of the Trenton, Missouri production facility (Trenton) grew...

Conagra Brands Inc Recalls Chicken Pad Thai and Chicken Fried Rice

Conagra Brands, Inc., a Russellville, Ark. establishment, is recalling approximately 2,094,186 pounds of frozen entrees due to misbranding and an undeclared allergen, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today. The product contains milk, a known allergen, which is not declared on the product label.

The P.F. Chang’s Home Menu Chicken Pad Thai and Chicken Fried Rice are frozen, heat treated, not fully cooked and not shelf stable. They were produced on various dates between Oct. 1, 2018 and April 11, 2019, with “Best By” dates of Sept. 26, 2019 through April 5, 2020.

The products subject to this recall bear establishment number...

Conagra Brands Reports Third Quarter Results

Today Conagra Brands, Inc. (NYSE: CAG) reported results for the third quarter of fiscal year 2019, which ended on February 24, 2019. All comparisons for Legacy Conagra results are against the prior-year fiscal period, unless otherwise noted. Certain terms used in this release, including "organic net sales," "Legacy Conagra," "pro forma," "EBITDA," and certain "adjusted" results, are defined under the section entitled "Definitions."

Highlights

• Net sales grew 35.7%, driven primarily by the Pinnacle Foods acquisition. Organic net sales excluding the sale of the Trenton, Missouri production facility (Trenton) increased 1.9%.
• The Grocery & Snacks segment grew net sales by 2.9% behind continued ...

Conagra Brands, Inc. Recalls Chicken and Rice Products Due To Misbranding and Undeclared Allergens

Conagra Brands, Inc., a Milton, Pa. establishment, is recalling approximately 2,871 pounds of chicken and rice products due to misbranding and undeclared allergens, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today. The products may contain milk and wheat, known allergens, which are not declared on the product label.

The products are labeled as chicken and rice products but contain beef ravioli products. The products were produced and packaged on Jan. 16, 2019. The following products are subject to recall ...