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, Inc. (CAG) reported a strong first quarter for fiscal 2023 with net sales of $2.9 billion, up 9.5% year-over-year. Organic net sales rose 9.7%, driven by a 14.3% increase in price/mix, despite a 4.6% volume decline due to inflationary pressures. The adjusted operating margin was 13.7%, and adjusted EPS hit $0.57, a 14.2% increase in net income. The company reaffirmed its fiscal 2023 guidance, expecting organic net sales growth of 4-5% and adjusted EPS growth of 1-5%. However, an impairment charge of $386 million impacted overall earnings.
Conagra Brands, Inc. (NYSE: CAG) announced a quarterly dividend of $0.33 per share, payable on December 1, 2022. This dividend is for stockholders on record as of the close of business on November 3, 2022.
This announcement reflects Conagra's commitment to returning value to its shareholders amidst evolving market conditions.
Conagra Brands (NYSE: CAG) showcased its $2.9 billion snacking portfolio at the NACS Expo in Las Vegas from October 2-4, 2022. The company's diverse offerings cater to increasing consumer demand, with snacks being consumed 700 times a year per person. Key highlights included Slim Jim meat sticks, DAVID sunflower seeds, and Angie's BOOMCHICKAPOP popcorn. Innovative products such as DAVID Frank's RedHot Jumbo sunflower seeds are set to hit stores in early 2023. The company emphasizes merchandising solutions to boost product visibility and sales.
Conagra Brands Foundation has awarded $350,000 in grants to 23 nonprofits across 12 states during Hunger Action Month 2022. The "Nourish Our Community" grants support initiatives addressing food insecurity, nutrition education, and healthy living. Employees nominated local organizations for funding, which aids programs helping seniors, children, and vulnerable populations. This effort reinforces Conagra's commitment to community engagement and tackling the hunger crisis in the U.S., highlighting its partnership with Feeding America and ongoing efforts to combat food insecurity.
Conagra Brands, Inc. (NYSE: CAG) has scheduled a webcast and conference call for its fiscal 2023 first quarter results on October 6, 2022, at 9:30 a.m. ET. The earnings release will be available at 7:30 a.m. ET on the same day. An audio webcast and presentation slides will be accessible on conagrabrands.com/investor-relations. Investors can join the conference call by dialing 1-877-883-0383 (U.S.) or 1-412-902-6506 (international) with the passcode 2011887. A replay will be available until October 13, 2022.
On August 22, 2022, Conagra Brands (NYSE: CAG) appointed Tracy Schaefer as senior vice president and chief information officer. With over two decades at Conagra, she brings extensive experience in finance and information technology.
Dave Marberger, CFO, praised her leadership and strategic insight. Schaefer's role will be pivotal in advancing the company's strategic objectives across the enterprise.
Conagra Brands, Inc. (NYSE: CAG) has appointed Denise A. Paulonis to its board of directors, effective August 1, 2022. With this addition, the board will now consist of 13 members. Paulonis brings extensive experience in growth, supply chain innovation, and e-commerce from her role as CEO of Sally Beauty Holdings and previous positions at Sprouts Farmers Market and PepsiCo. Her appointment is expected to enhance Conagra's strategic direction amidst evolving food preferences.
Conagra Brands, Inc. (NYSE: CAG) has announced a quarterly dividend payment of $0.33 per share, an increase of 5.6% from the previous dividend. The payment will be made on September 1, 2022, to stockholders on record as of the close of business on August 3, 2022. This new rate translates to an annual dividend of $1.32 per share, reflecting the company's commitment to returning value to its shareholders.
Conagra Brands reported a 6.2% increase in net sales for Q4 2022, totaling $2.9 billion, while organic net sales rose 6.8%. However, diluted EPS declined 48.4% to $0.33. For the full fiscal year, net sales grew 3.1% to $11.5 billion, but gross profit decreased 10.7% to $2.8 billion. The company provided guidance for fiscal 2023, expecting organic net sales growth of 4% to 5% and adjusted EPS growth of 1% to 5%.
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