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.
The Conagra Brands Foundation has awarded $350,000 in grants to 20 nonprofits across 10 states through its "Nourish Our Community" program. This initiative, aligned with Hunger Action Month, aims to address food insecurity and promote nutrition education in communities where Conagra employees live and work. The program empowers employees to nominate and select grant recipients, fostering community involvement.
The grants support various projects, including Meals on Wheels, food pantries, weekend meal programs for students, and urban agriculture initiatives. These efforts are part of Conagra's broader partnership with Feeding America, which includes product donations, employee volunteerism, and strategic support to combat hunger nationwide.
Conagra Brands (NYSE: CAG) has announced the release date for its fiscal 2025 first quarter earnings. The company will disclose its financial results on Wednesday, October 2, 2024. The earnings release will include:
- A press release and supplemental materials
- Pre-recorded remarks
- A 30-minute live Q&A session with investors at 9:30 a.m. ET
Investors can access the earnings materials and participate in the Q&A session through the company's website or by dialing in. This announcement provides transparency and allows stakeholders to prepare for the upcoming financial disclosure.
Conagra Brands (NYSE: CAG) has completed the sale of its 51.8% ownership stake in Agro Tech Foods (ATFL), an India-based food company. This divestiture aligns with Conagra's strategy to reshape its portfolio and maximize shareholder value. As a result, Conagra will no longer consolidate ATFL's financial results in its statements.
Conagra Brands, a leading North American food company with a 100-year history, focuses on innovation and collaboration to meet changing consumer preferences. The company's portfolio includes popular brands such as Birds Eye, Duncan Hines, Healthy Choice, and Slim Jim. In fiscal 2024, Conagra reported net sales exceeding $12 billion.
Conagra Brands, Inc. (NYSE: CAG) has acquired Sweetwood Smoke & Co., the maker of FATTY Smoked Meat Sticks. The financial terms of the acquisition were not disclosed. FATTY products are described as protein-packed, better-for-you snacks made with high-quality pork and beef, smoked with real hickory wood. This acquisition aligns with Conagra's strategic focus on the snacking and frozen categories.
Sean Connolly, Conagra's CEO, stated that this move is part of reshaping their portfolio for faster growth. Ryan Wood, founder of Sweetwood Smoke & Co., expressed excitement about working with Conagra to expand FATTY's reach. Importantly, Conagra confirmed that this transaction would not affect its FY25 guidance issued on July 11, 2024.
Conagra Brands (NYSE: CAG) has been recognized as one of the 'Best Places to Work for Disability Inclusion' for 2024 by The Disability Equality Index®. This prestigious recognition is based on a comprehensive benchmarking tool that measures disability workplace inclusion in Fortune 1000 companies.
The Disability Equality Index, a joint initiative of Disability:IN and The American Association of People with Disabilities (AAPD), assessed Conagra Brands across various categories including Culture & Leadership, Enterprise-Wide Access, Employment Practices, Community Engagement, and Supplier Diversity. Companies scoring 80 or higher are acknowledged with this distinction.
Brenna McCauley, leader of Conagra Brands' Disability+ Ally Employee Resource Group, emphasized the company's commitment to providing safe, accessible spaces for all employees. The recognition underscores Conagra's dedication to fostering an inclusive workplace environment.
Conagra Brands (NYSE: CAG) reported its fourth-quarter and full-year fiscal 2024 results, showing a decline in both net sales and earnings per share (EPS). For the fourth quarter, net sales decreased by 2.3%, and the company reported a diluted loss per share of $1.18 due to non-cash goodwill and brand impairment charges. Adjusted EPS was $0.61. For the full fiscal year, net sales fell by 1.8% and reported diluted EPS decreased by 49.3% to $0.72. Adjusted EPS decreased by 3.6% to $2.67. Despite these declines, the company saw market share gains in key categories and reported increased gross and adjusted gross margins.
Looking ahead to fiscal 2025, Conagra expects organic net sales to be between flat and -1.5%, with adjusted EPS projected to be between $2.60 and $2.65. The company also announced a quarterly dividend of $0.35 per share. CEO Sean Connolly highlighted improvements in the Domestic Retail business and anticipates a gradual recovery from challenging industry trends.
Orville Redenbacher's Gourmet Popping Corn and Hallmark Channel have announced the 'Ultimate Outdoor Movie Night' Sweepstakes. The grand prize includes an outdoor at-home theater setup, a one-year supply of Orville Redenbacher's microwave popcorn, assorted popcorn seasonings, and a Hallmark Channel popcorn bowl. Additionally, fifty secondary prize winners will receive a one-year supply of popcorn and seasonings, while weekly prizes will offer a 6ct carton of microwave popcorn, one seasoning, and a Hallmark Channel blanket. The sweepstakes runs until August 31, 2024, and participants can enter daily at SummerNightSweeps.com. No purchase is necessary.
Conagra Brands has announced the launch of over 50 new meals and snacks for summer 2024, expanding its portfolio across various categories. Key highlights include Dolly Parton's new Southern-style frozen meals and desserts, Chef Boyardee's skillet meals, and innovative vegetable dishes from Birds Eye and Alexia. Healthy Choice adds new single-serve meals, while Blake's and Evol introduce protein-packed frozen options. Banquet and Hungry-Man cater to hearty appetites with large portions, and Marie Callender's offers comforting meals. Additionally, globally inspired dishes from Bertolli and P.F. Chang's Home Menu, plant-based meals from Gardein and Purple Carrot, and new gluten-free snacks from Glutino are part of the lineup. This extensive product launch aims to cater to diverse consumer tastes and preferences.
Conagra Brands (NYSE: CAG) announced advancements in its AI initiatives through a human-centered approach. In collaboration with Microsoft and Ernst & Young (EY), the company aims to boost efficiencies by integrating generative AI, intelligent automation, and strategic tools across various operations including IT, Supply Chain, R&D, and Marketing.
Conagra's use of Microsoft Power Platform and Azure OpenAI Service empowers employees to enhance productivity and automate tasks. A joint two-day hackathon with Microsoft led to improved automated product labeling processes.
Collaborations with EY focus on leveraging AI for branding and marketing, streamlining the content creation process through generative AI models. These initiatives complement existing AI strategies, improving decision-making, visibility, and loss prevention in the supply chain.
Tracy Schaefer, Conagra's CIO, highlighted the integration of IT and business strategy to introduce dynamic approaches and respond swiftly to industry trends.
Conagra Brands (NYSE: CAG) will release its fiscal 2024 fourth quarter and full year earnings on July 11, 2024. The release will include a press release, supplemental materials, and pre-recorded remarks that morning. A 30-minute live Q&A session with the investment community is scheduled for 9:30 a.m. ET, accessible via a provided dial-in number and the company's investor relations website. This session will offer insights into the company's performance and future projections.
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