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Conagra Brands (CAG) stock rose Thursday following the release of a quarterly earnings report that beat analyst estimates despite a 2% decrease in sales compared to the year-ago period.
Conagra's (CAG) Q3 results reflect declining volumes from lower consumption and the negative impacts of pricing in certain segments. However, the adjusted gross margin improves on higher productivity.
The headline numbers for Conagra Brands (CAG) give insight into how the company performed in the quarter ended February 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Conagra also raises its fiscal-year margin outlook.
Conagra Brands Inc is trading up in premarket on Thursday after reporting in-line financial results for its fiscal third quarter. This is a developing story.
Shares of Conagra Brands Inc. CAG, -1.66% jumped 5.5% toward an eight-month high in premarket trading Thursday, after the food brands company reported fiscal third-quarter profit and sales that beat expectations, amid strength in the grocery and snacks business and as cost cutting helped boost gross margins. The company, with brands including Duncan Hines, Healthy Choice, Hunt's and Reddi Wip, said net income for the quarter to Feb. 25 fell to $308.6 million or 64 cents a share, from $341.7 million, or 71 cents a share, in the same period a year ago.
Conagra Brands' (CAG) third-quarter results are likely to reflect gains from innovation and the frozen category amid elevated cost concerns.
Besides Wall Street's top -and-bottom-line estimates for Conagra Brands (CAG), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended February 2024.
Conagra Brands (CAG) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Conagra Brands (CAG) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.