Conagra Brands: Q1 Earnings Insights

Shares of Conagra Brands CAG fell 0.6% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share rose 62.79% over the past year to $0.70, which beat the estimate of $0.57.

Revenue of $2,679,000,000 rose by 12.05% from the same period last year, which beat the estimate of $2,610,000,000.

Looking Ahead

Conagra Brands hasn't issued any earnings guidance for the time being.

Conagra Brands hasn't issued any revenue guidance for the time being.

Conference Call Details

Date: Oct 01, 2020

Time: 09:30 AM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/cag/mediaframe/40407/indexr.html

Price Action

Company's 52-week high was at $39.34

52-week low: $22.83

Price action over last quarter: down 0.48%

Company Overview

Conagra Brands is a packaged food company that operates predominantly in the United States (92% of revenue and 94% of profits). It has a significant presence in the freezer aisle, with brands such as Marie Callender's, Healthy Choice, Banquet, and Birds Eye. Popular center-of-store brands include Duncan Hines, Hunt's, Slim Jim, Vlasic, Orville Redenbacher's, and Chef Boyardee. While the majority of revenue is sold into the U.S. retail channel, we estimate about 8% of fiscal 2020 sales were to the food-service channel, down from 10% if fiscal 2019 due to the pandemic.