CAG Stock Recent News

Investors looking for value and yield have no further to look than the Consumer Staples sector. The sector corrected sharply in the second half of 2023 and now, even after rebounding smartly, provides a value relative to historical norms and the pandemic bubble.

Conagra Brands (CAG) came out with quarterly earnings of $0.71 per share, beating the Zacks Consensus Estimate of $0.67 per share. This compares to earnings of $0.81 per share a year ago.

ConAgra Brands Inc (NYSE:CAG) has reported a decline in second-quarter sales and earnings and guided for a fall in full-year sales, sending its shares lower in Thursday premarket trading. The consumer packaged goods holding company, which owns brands that include Slim Jim and Birds Eye, posted a 3.2% drop in net sales to $3.2 billion.

Conagra Brands Inc.'s stock CAG, -0.85% was down by 2.4% in premarket trading on Thursday after the food giant's second-quarter revenue and 2024 profit outlook fell short of analyst estimates, despite a better-than-expected quarterly profit. Conagra said its second-quarter net income dipped by 0.1% to $478.7 million, or 60 cents a share, from $479.4 million, or 79 cents a share, in the year-ago quarter.

Packaged and frozen foods maker ConAgra Brands Inc. NYSE: CAG had a rough 2023, with shares losing 26.19% versus the S&P 500 index performance of 24.8%. The weak macroeconomic environment led to consumers pulling back on their spending, even in the consumer staples sector, often trading down for private label brands.

This week also brings earnings from Constellation Brands and Lamb Weston. Plus, December jobs data, Fed minutes, and manufacturing and services numbers.

The economy's resilience in the face of the Fed's extraordinary tightening has been a pleasant surprise. That said, it makes sense for growth to moderate going forward to reflect the cumulative effect of monetary policy tightening.

Evaluate the expected performance of Conagra Brands (CAG) for the quarter ended November 2023, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.

Conagra Brands' (CAG) second-quarter results are likely to reflect volume concerns due to the industry-wide slowdown in consumption, whereas strength in brands is likely to have been an upside.

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.