Conagra Brands Reports Second Quarter Results

Today Conagra Brands, Inc. (NYSE: CAG) reported results for the second quarter of fiscal year 2023, which ended on November 27, 2022. All comparisons are against the prior-year fiscal period, unless otherwise noted.

Highlights

- Second quarter net sales increased 8.3%; organic net sales increased 8.6%

- Operating margin increased 320 basis points in the quarter to 16.6%; adjusted operating margin increased 237 basis points to 17.0%

- Diluted earnings per share (EPS) for the second quarter increased 38.6% to $0.79, and adjusted EPS increased 26.6% to $0.81...

Conagra Brands Recognizes 17 Facilities Achieving 90% Waste Diversion as Zero Waste Champions

In celebration of America Recycles Day, Conagra Brands is honoring its employees who are keeping materials out of landfills through impactful recycling and waste reduction measures. Seventeen Conagra facilities across the United States, Canada, and Mexico have been awarded Zero Waste Champion status for diverting more than 90 percent of waste materials that would have otherwise been sent to landfills. In fiscal year 2022, these 17 facilities diverted more than 183,000 tons of waste for more beneficial uses through recycling, product donations to bolster food supplies at...

Conagra Brands Reports First Quarter Results

Today Conagra Brands, Inc. reported results for the first quarter of fiscal year 2023, which ended on August 28, 2022. All comparisons are against the prior-year fiscal period, unless otherwise noted.

Highlights
- First quarter net sales increased 9.5%; organic net sales increased 9.7%
- Operating margin in the quarter was (0.7%); adjusted operating margin was 13.7%
- Diluted loss per share for the first quarter was $0.16, and adjusted earnings per share (EPS) was $0.57
- First quarter operating margin, net income, and diluted EPS were impacted by non-cash goodwill and intangible asset...

Conagra Brands Announces Appointment of Denise Paulonis to its Board of Directors

Conagra Brands, Inc., one of North America's leading branded food companies, today announced the appointment of Denise A. Paulonis to its board of directors, effective August 1, 2022. With this addition, the Conagra Brands board will increase to 13 members.

"We are pleased to welcome Denise to the Conagra Brands board," said Richard H. Lenny, chair, Conagra Brands. "Conagra and our shareholders will benefit from Denise's extensive leadership experience driving growth, supply chain innovation, e-commerce capabilities, and product innovation within the consumer products market..."

Conagra Brands Recognized as One of the "Best Places to Work for Disability Inclusion"

Conagra Brands, Inc., one of North America's leading branded food companies, today announced it has been recognized as one of the "Best Places to Work for Disability Inclusion" by The Disability Equality Index® (DEI), the world's most comprehensive benchmarking tool for the Fortune 1000 and Am Law 20011 to measure disability workplace inclusion against competitors.

The Disability Equality Index (DEI) is a comprehensive benchmarking tool that helps companies build a roadmap of measurable, tangible actions that they can take to achieve disability inclusion and...

Conagra Expects More Consumers to Eat At Home If Recession Hits

Conagra Brands Inc. expects consumers to eat more meals at home if the U.S. economy heads into a downturn, its CEO said, as the food company reported higher sales in its latest quarter.

Sean Connolly, Conagra's chief executive, said it isn't yet clear whether the economy is dropping into a recession, though he said supermarkets and packaged food companies have tended to capture more consumer spending during past periods of economic weakness.

"One of the things that you see happen first when recessions hit is consumers cut back on..."

Conagra Brands Launches Extensive Summer Line-up of New Product Innovation

Conagra Brands, Inc., one of North America's leading branded food companies, is debuting an extensive line-up of new products designed to solve mealtime dilemmas and satisfy cravings. Featuring contemporary flavors, on-trend ingredients and convenient prep methods, the new foods from Conagra Brands span nearly every aisle of the store.

"We're excited for consumers to try our newest offerings," said Burke Raine, president, frozen and refrigerated foods, Conagra Brands. "Food can be inspiring, satisfying, comforting, and nourishing, and we think our debuts for summer 2022 deliver..."

Conagra Brands Celebrates Employee-Led Sustainable Development Awards Program

In celebration of World Environment Day on June 5, Conagra Brands announced today the winners of its annual Sustainable Development Awards, an employee-led program that encourages the development and implementation of innovative ideas related to sustainable production and business practices. This year, employees from across the organization submitted a record 211 sustainability-focused projects that conserve water, reduce waste and save energy, underscoring Conagra's commitment to nourishing and restoring the planet. Winning teams were presented with awards this week at a ceremony in Chicago and Omaha. In partnership with the...

Gardein Unveils New Additions to Ultimate Plant-Based Collection

Gardein's Ultimate Plant-based line is about to get even better. Gardein, a brand of Conagra Brands, Inc., is adding to a diverse collection of meat alternatives with seven new foods that will arrive this June. Flexitarians, vegans and vegetarians can now indulge in delicious plant-based servings of bratwurst, buffalo wings, spicy chick'n fillets and more.

"Eating plant-based should never mean settling for a limited menu," said Jill Dexter, VP/GM, Conagra Brands. "Gardein is committed to adding delicious new food to our line-up, and we're really excited..."

Melissa Napier Named Senior Vice President of Investor Relations of Conagra Brands

Conagra Brands, Inc. (NYSE: CAG) today announced the appointment of Melissa Napier as senior vice president of Investor Relations, effective April 25, 2022.

In this role, Napier will lead the development and execution of Conagra's investor relations program, including setting strategy in financial communications and quantitative benchmarking and analysis.

"Melissa has an exceptional background in Investor Relations and key areas of the Finance function," said Dave Marberger, executive vice president and chief financial officer of Conagra Brands. "We are excited to welcome Melissa to Conagra. Our leadership team...