Conagra Brands: lowers annual targets

(CercleFinance.com) - On its quarterly earnings call, Conagra Brands lowered its annual targets, now anticipating adjusted EPS of $2.
60 to $2.65, an adjusted operating margin of around 15.6% and organic revenues that are down by 1% to 2%.

For Q2 2023-24, the food group's adjusted EPS fell 12.3% to $0.71 and its adjusted operating margin slipped 1.1 point to 15.9%, on revenues of $3.21bn, down 3.4% organically.

Despite a persistently difficult macroeconomic environment, management says that it saw several positive signs in Q2, in particular mentioning a much lower decline in volume attributable to inflation.


Copyright (c) 2024 CercleFinance.com. All rights reserved.