ConAgra Brands (CAG) Tops Q3 EPS by 5c

ConAgra Brands (NYSE: CAG) reported Q3 EPS of $0.69, $0.05 better than the analyst estimate of $0.64. Revenue for the quarter came in at $3.03 billion versus the consensus estimate of $3.01 billion.

GUIDANCE:

ConAgra Brands sees FY2024 EPS of $2.60-$2.65, versus the consensus of $2.60.

• Net Leverage Ratio of approximately 3.44x
• Capital expenditures of approximately $425M
• Interest expense of approximately $435M

The company is reaffirming fiscal 2024 guidance for the following:

• Organic net sales to decrease between 1.0% and 2.0% compared to fiscal 2023
• Adjusted EPS is expected to be between $2.60 and $2.65
• Adjusted effective tax rate of approximately 24%
• No pension income
• Ardent Mills contribution of approximately $170M

For earnings history and earnings-related data on ConAgra Brands (CAG) click here.

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