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) announced its Q3 fiscal 2022 results, with net sales up 5.1% to $2.9 billion and organic net sales rising 6.0%. However, diluted EPS decreased 22.4% to $0.45, and adjusted EPS fell 1.7% to $0.58. The company faces high input cost inflation, expecting approximately 16% for the fiscal year. Adjusted operating margin guidance was lowered from 15.5% to 14.5%, while organic net sales growth for Q4 is forecasted at 7%. The CEO emphasized strong consumer demand despite inflation-related pricing actions.
Conagra Brands, Inc. (NYSE: CAG) unveiled its Fiscal 2021 Citizenship Report, showcasing advancements in environmental, social, and governance (ESG) initiatives aligned with the United Nations Sustainable Development Goals. Key highlights include achieving 100% renewable, recyclable, or compostable packaging by 2025, conserving 64 million gallons of water, and donating 30 million pounds of food to Feeding America. The report reflects a commitment to sustainability, diversity, and community support, and contains supplementary ESG data for fiscal year 2021.
Conagra Brands, Inc. (NYSE: CAG) will host a webcast and conference call on April 7, 2022, at 9:30 a.m. ET to discuss its fiscal 2022 third-quarter results. The earnings release will be available at 7:30 a.m. ET on the same day. Interested parties can access the event via conagrabrands.com/investor-relations. A replay will be available until April 7, 2023.
Conagra Brands, Inc. (NYSE: CAG) announced the appointment of George Dowdie to its board of directors, effective March 1, 2022. This will expand the board to 13 members. Dowdie brings significant expertise in supply chain management and research and development, having served as executive vice president of global supply chain at Starbucks and held roles in Campbell Soup Company and other major food corporations. His leadership is seen as beneficial for Conagra's innovation and focus on delivering value to consumers and shareholders.
On January 28, 2022, Conagra Brands (NYSE: CAG) announced a voluntary recall of select Wish-Bone Thousand Island and Chunky Blue Cheese dressings due to undeclared eggs in the labels. The recalled products pose a risk of serious allergic reactions for individuals sensitive to eggs. No illnesses linked to the products have been reported. Conagra is coordinating with retailers to withdraw the affected items from stores and advises consumers to dispose of the products. This recall does not affect other Wish-Bone or Conagra Brands offerings.
Duncan Hines, a brand of Conagra Brands (NYSE: CAG), is unveiling a new line of Southern-inspired desserts in collaboration with Dolly Parton. This collection features cake mixes and frostings based on Parton's family recipes, including Coconut and Banana Puddin' Cakes. Available online starting January 26, 2022, for $40, the collection includes a collectible tea towel and spatula. Full retail availability is set for March, with cake mixes priced at $2.19 and frostings at $2.09. The partnership aims to offer a taste of Southern comfort through homemade baking experiences.
Conagra Brands reported a net sales increase of 2.1% to $3.1 billion for Q2 fiscal 2022, with organic net sales growing 2.6%. However, diluted EPS fell 26% to $0.57, affected by a 15.1% drop in gross profit. Adjusted operating margin decreased to 14.6%. The company anticipates organic net sales growth of around 3% and adjusted EPS guidance remains at $2.50. CEO Sean Connolly highlighted sustained consumer demand but acknowledged continued cost pressures.
Conagra Brands, Inc. (NYSE: CAG) has announced a quarterly dividend payment of $0.3125 per share, set to be paid on March 2, 2022. This dividend will benefit stockholders recorded as of January 31, 2022. As a leading branded food company in North America, Conagra continues to adapt its portfolio to meet evolving consumer preferences, showcasing a mix of iconic and emerging brands. This dividend reflects the company's commitment to returning value to its shareholders.
Conagra Brands, Inc. (NYSE: CAG) will hold a webcast and conference call to discuss its fiscal 2022 second quarter results on January 6, 2022, at 9:30 a.m. ET. A news release will be available at 7:30 a.m. ET the same day. Participants can access the call by dialing 1-877-883-0383 (U.S.) or 1-412-902-6506 (international) with the passcode 3428984. The event will feature a Q&A session following the presentation. A replay will be available until January 6, 2023.
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