Investing.com -- Conagra Brands, Inc. (NYSE: CAG) reported its third-quarter results on Wednesday before the open, missing the consensus earnings estimate but topping revenue expectations.

Adjusted earnings per share came in at $0.39, missing analyst estimates of $0.40, while revenue of $2.79 billion slightly exceeded the consensus of $2.76 billion. The company narrowed its full-year adjusted EPS guidance to approximately $1.70, at the low end of its previous $1.70 to $1.85 range.

Net sales decreased 1.9% YoY but organic net sales rose 2.4%, driven by a 1.9% price/mix increase and a 0.5% volume gain. The company cited continued momentum in its Frozen and Snacks businesses, with volume share gains in categories including frozen single serve meals, frozen vegetables, meat snacks, and hot cocoa.

Adjusted operating margin reached 10.6% in the quarter, with the company expecting full-year adjusted operating margin near the high end of its 11.0% to 11.5% range.

Shares fell 0.2% following the announcement.

"I am pleased with our third quarter performance as we returned the business to organic net sales growth, reflecting continued upward inflection in our Frozen and Snacks businesses while remaining on track in our cash businesses," said Sean Connolly, president and chief executive officer.

The Refrigerated & Frozen segment posted the strongest performance with organic net sales up 3.6%, driven by a 3.9% volume increase reflecting market share recovery following last year's supply constraints. The Grocery & Snacks segment saw organic net sales rise 1.8%, while the Foodservice segment increased 3.6%.

Adjusted gross margin declined 112 basis points to 23.7% as higher organic net sales and productivity were offset by cost of goods sold inflation, which the company expects to reach approximately 7% for the full fiscal year, including tariff expenses. Adjusted net income decreased 22.3% to $188 million.