Welcome to our dedicated page for Conagra Brands news (Ticker: CAG), a resource for investors and traders seeking the latest updates and insights on Conagra Brands stock.
Conagra Brands, Inc. (NYSE: CAG) is a leading packaged food company based in Chicago, Illinois. With a strong presence in North America, Conagra Brands is committed to providing the great food today's consumers want. The company's diverse portfolio features notable brands such as Marie Callender's, Healthy Choice, Banquet, Birds Eye, Duncan Hines, Hunt's, Slim Jim, Vlasic, Orville Redenbacher's, Reddi-wip, Wish-Bone, and Chef Boyardee. These brands cover a wide range of food categories, including frozen food, snacks, shelf-stable staples, and refrigerated food.
Recent achievements highlight Conagra's focus on innovation and strategic partnerships. For instance, in January 2024, Mrs. Butterworth's collaborated with Dunkin' to launch a new pancake syrup flavored like Dunkin's iconic glazed donut. This new product aims to captivate consumers with its unique blend of syrup and donut flavors.
Financially, Conagra Brands reported a revenue of over $3 billion in the third quarter of fiscal year 2024, demonstrating resilience and steady progress. The company's domestic retail business continues to thrive, supported by strategic investments that have generated strong lifts and unit share gains. Additionally, Conagra's commitment to cost-saving initiatives has enabled the company to sustain margin recovery and invest in brand growth.
On the international front, although Conagra Brands predominantly operates within the United States, it continues to expand its footprint with 8% of its fiscal 2023 revenue coming from international markets. The company also recently announced plans to divest its 51.8% ownership stake in Agro Tech Foods Limited, a food company based in India. This divestiture aligns with Conagra's strategic focus on optimizing its portfolio.
Conagra Brands is also dedicated to corporate social responsibility. The company's 2023 Citizenship Report highlights significant progress in areas such as Good Food, Responsible Sourcing, Better Planet, and Stronger Communities. These initiatives underscore Conagra's commitment to sustainability and social responsibility.
For the latest updates and more information on Conagra Brands, please visit www.conagrabrands.com.
Conagra Brands (NYSE: CAG) reported Q2 FY2025 results with mixed performance. Net sales slightly decreased by 0.4% to $3.2 billion, while organic net sales showed a marginal increase of 0.3%. The company's reported operating margin declined 138 basis points to 12.6%, and adjusted operating margin decreased 57 basis points to 15.3%.
Reported diluted EPS decreased 1.7% to $0.59, while adjusted EPS fell 1.4% to $0.70. Due to higher than expected inflation and unfavorable foreign exchange rates, Conagra updated its fiscal 2025 guidance, projecting organic net sales between -1.5% to flat, adjusted operating margin of approximately 14.8%, and adjusted EPS between $2.45 and $2.50.
Conagra Brands released its second annual Future of Frozen Food 2025 report, analyzing trends in the $91.3 billion U.S. frozen food market. The report identifies five key trends shaping the industry: Modern Health, Elevated In-Home Experiences, Global Cuisine, Bites & Minis, and Spice & Heat.
Notable findings include a 54% increase in frozen food spending during family formation years among Millennials and Gen Z, a 33% growth in probiotic and gut-friendly frozen products, and spicy frozen food sales exceeding $2.0 billion. The research shows that global street food reached $543 million in sales, while bites and mini portions grew to $2.4 billion, with 84% being consumed as meals rather than appetizers.
Conagra Brands announced the introduction of an 'On Track' badge for 26 select Healthy Choice products starting January 2025, marking a first-in-industry initiative targeting GLP-1 medication users. The badge indicates products that are high in protein, low calorie, and fiber-rich, making them 'GLP-1 friendly'.
The initiative addresses the needs of nearly 15 million U.S. adults using GLP-1 medications for diabetes and weight management. The badge will appear on Healthy Choice Café Steamers and Simply Steamers, priced at MSRP $3.49 and $3.99 respectively. These products will be available at major retailers nationwide, including Walmart, Target, Kroger, and Albertsons, as well as online platforms.
Conagra Brands (NYSE: CAG) has announced a quarterly dividend payment of $0.35 per share, continuing its long-standing tradition of consecutive quarterly dividend payments that dates back to January 1976. The dividend will be paid on February 27, 2025 to stockholders of record as of the close of business on January 27, 2025.
Conagra Brands (NYSE: CAG) has launched PAM Air Fryer Non-Stick Spray, specifically designed for air fryers, addressing concerns about appliance wear and tear from traditional cooking sprays. The new formula features a 450-degree smoke point, higher than traditional sprays, and is formulated to reduce residue build-up on wire baskets and trays. With air fryers present in over 60% of U.S. households and ranking as America's fourth most-popular cooking appliance, the product is positioned as a pantry essential. The spray, priced at $3.99, contains no artificial preservatives, flavors, or colors, and can be applied directly to both the appliance and food to promote browning and crisping.
Conagra Brands (NYSE: CAG) has announced it will release its fiscal 2025 second quarter results on Thursday, December 19, 2024. The company will issue a press release and supplemental materials, including pre-recorded remarks, followed by a 30-minute live Q&A session with the investment community at 9:30 a.m. ET. Materials will be available on the company's investor relations website, and the Q&A session can be accessed via phone using specific dial-in numbers for U.S. and international participants.
Conagra Brands (NYSE: CAG) has been named to Military Times' 2024 Best for Vets: Employers list, recognizing its commitment to supporting veterans and military families. The company's Veterans Employee Resource Group plays a important role in fostering inclusion and professional growth. Conagra has established partnerships with Cameron-Brooks and the Military Spouse Employment Partnership for recruitment, while its collaboration with DOD SkillBridge facilitates military-to-civilian career transitions.
The recognition is based on a voluntary survey evaluating companies' policies and benefits for veterans. Veterans can explore career opportunities at Conagra through a specialized platform that matches their Military Occupational Specialty Code with suitable positions. As one of North America's leading food companies, Conagra generated fiscal 2024 net sales exceeding $12 billion.
Conagra Brands (NYSE: CAG) has announced the winners of its Sustainable Development Awards, recognizing employee achievements in sustainability across five categories: Climate Change, Packaging, Responsible Sourcing, Water Reduction, and Waste Reduction. Notable achievements include Maple Grove's 12% reduction in natural gas usage, Rensselaer's packaging optimization saving 79 metric tons of CO2 emissions, and Waterloo's water conservation project saving over one million gallons.
The Award of Excellence went to Irapuato, Mexico, for upgrading their biogas system, now providing 8% of the site's electricity. Each winning team receives a $5,000 grant from the Conagra Brands Foundation for community investment. These initiatives demonstrate the company's commitment to environmental stewardship and sustainable practices.
Conagra Brands (NYSE: CAG) is set to showcase its $3.2 billion snacks portfolio at the 2024 NACS Show in Las Vegas. The company will unveil new products across its meat snacks, salty snacks, and seeds categories. Highlights include:
- Introduction of FATTY® Smoked Meat Sticks, a recent acquisition
- New offerings from Slim Jim®, including Slim Jim Bites and new formats
- Duke's® Smoked Meat Snacks in new 2.5 oz. bags
- Vlasic® Pickle Balls, a new poppable puff ball snack
- DAVID® Honey Roasted Jumbo Sunflower Seeds and BiGS® Fire Sunflower Seeds
- Glutino® gluten-free pretzels entering the C-store market
- Andy Capp's® Fire Tots, a new spicy puffcorn snack
The company aims to accelerate sales growth through various in-store display solutions.
Swiss Miss, a Conagra Brands brand, has partnered with Hotel Tango Distillery to launch Swiss Miss 'Shmallow, a toasted marshmallow and cocoa-infused bourbon. This -edition spirit combines the flavor of Swiss Miss hot cocoa with a well-crafted bourbon, making it ideal for holiday gatherings or as a gift for bourbon enthusiasts.
Available this month at select retailers and online at Cask Cartel for an SRP of $27.99, Swiss Miss 'Shmallow features sweet notes of caramelized sugar, toasted marshmallow, and a hint of smokiness. The collaboration aims to create a unique drinking experience that evokes feelings of coziness during the winter season.
For more information about Swiss Miss 'Shmallow, including cocktail recipes and purchase locations, visit drinkshmallow.com.
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