Inferra AI / Company / CAG
Conagra Brands Inc.
CAG · Consumer Staples
Last earnings Sep 30, 2026
Key results
Reported operating marginquarter
13.2%
Reported operating margin was 13.2% representing a 118 basis point decrease.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
Adjusted operating marginquarter
11.8%
Adjusted operating margin was 11.8% representing a 244 basis point decrease.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
EPSquarter
$0.34
Reported diluted earnings per share (EPS) was $0.34, a 64.9% decrease.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
Gross marginquarter
24.3%
Gross margin decreased 212 basis points to 24.3% in the quarter, and adjusted gross margin decreased 153 basis points to 24.4%.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
Adjusted gross marginquarter
24.4%
Gross margin decreased 212 basis points to 24.3% in the quarter, and adjusted gross margin decreased 153 basis points to 24.4%.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
Net incomequarter
64.8%
In the quarter, net income attributable to Conagra Brands decreased 64.8% to $165 million, or $0.34 per diluted share compared to $467 million, or $0.97 per diluted share in the prior year period.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
Adjusted net incomequarter
25.1%
Adjusted net income attributable to Conagra Brands decreased 25.1% to $189 million, or $0.39 per diluted share, compared to $253 million, or $0.53 per diluted share in the prior year period primarily as a result of the decrease in adjusted gross profit.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
Net revenuequarter
8.7%
Grocery & Snacks Segment First Quarter Results Net sales for the Grocery & Snacks segment decreased 8.7% to $1.1 billion in the quarter, reflecting: a 7.7% decrease from the unfavorable impact of M&A; and a 1.0% decrease in organic net sales.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
Revenuequarter
1.0%
Grocery & Snacks Segment First Quarter Results Net sales for the Grocery & Snacks segment decreased 8.7% to $1.1 billion in the quarter, reflecting: a 7.7% decrease from the unfavorable impact of M&A; and a 1.0% decrease in organic net sales.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
Operating profit for the segment increased 5.0% to $262 million in the quarter and adjusted operating profit decreased 12.9% to $221 million as productivity was more than offset by lower organic net sales, the negative impact of cost of goods sold inflation, higher SG&A inclusive of A&P, and lost profit from divested businesses.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
AI analysis
Q1 FY2026 · reported Oct 1, 2025
Based on: Earnings release + parent 8-K — transcript not held
Headline figures
| Metric | Q1 FY2026 | Prior qtr | Year ago |
|---|---|---|---|
| Reported operating margin | 13.2% | — | — |
| Adjusted operating margin | 11.8% | — | — |
| EPS | $0.34 | — | — |
| Gross margin | 24.3% | — | — |
| Adjusted gross margin | 24.4% | — | — |
| Net income | 64.8% | — | — |
| Adjusted net income | 25.1% | — | — |
| Net revenue | 8.7% | — | — |
Guidance · company-stated
Direction: Reiterated
“The company is reaffirming its fiscal 2026 guidance, reflecting: Organic net sales growth of (1)% to 1% compared to fiscal 2025 Adjusted operating margin between ~11.0% and ~11.5% Adjusted EPS between $1.70 and $1.85 CEO Perspective Sean Connolly, president and chief executive officer of Conagra Brands, commented, I am pleased by the solid progress we made in the first quarter with top line improvement and continued strategic execution across our portfolio.”
“Outlook The company is reaffirming the following guidance for fiscal 2026: Organic net sales growth of (1)% to 1% compared to fiscal 2025 Adjusted operating margin between ~11.0% and ~11.5% Adjusted EPS between $1.70 and $1.85 CONAGRA BRANDS Page 4 The company now expects interest expense of approximately $390 million and an adjusted effective tax rate of approximately 24% for the fiscal year.”
“Today, we are reaffirming our fiscal 2026 guidance.”
“All other guidance metrics including equity earnings contribution, pension income, capital expenditures, free cash flow conversion, net leverage ratio, and the adjusted EPS benefit of the 53 rd week remain unchanged from what was provided in the company s fourth quarter fiscal 2025 earnings release.”
Classified from the release's primary full-year outlook statement.
Margin
Capital allocation
We successfully delivered on key supply chain objectives, fully restored service levels, and advanced our portfolio reshaping which enabled us to further reduce net debt.
Event summary
(NYSE: CAG) reported results for the first quarter of fiscal year 2026, which ended on August 24, 2025
Based on: Earnings release + parent 8-K — transcript not held
Guidance & outlook
Direction: Reiterated
Revenue: “The company is reaffirming its fiscal 2026 guidance, reflecting: Organic net sales growth of (1)% to 1% compared to fiscal 2025 Adjusted operating margin between ~11.0% and ~11.5% Adjusted EPS between $1.70 and $1.85 CEO Perspective Sean Connolly, president and chief executive officer of Conagra Brands, commented, I am pleased by the solid progress we made in the first quarter with top line improvement and continued strategic execution across our portfolio.”
Revenue: “Outlook The company is reaffirming the following guidance for fiscal 2026: Organic net sales growth of (1)% to 1% compared to fiscal 2025 Adjusted operating margin between ~11.0% and ~11.5% Adjusted EPS between $1.70 and $1.85 CONAGRA BRANDS Page 4 The company now expects interest expense of approximately $390 million and an adjusted effective tax rate of approximately 24% for the fiscal year.”
Revenue — Reiterated (“reaffirming”)
“The company is reaffirming its fiscal 2026 guidance, reflecting: Organic net sales growth of (1)% to 1% compared to fiscal 2025 Adjusted operating margin between ~11.0% and ~11.5% Adjusted EPS between $1.70 and $1.85 CEO Perspective Sean Connolly, president and chief executive officer of Conagra Brands, commented, I am pleased by the solid progress we made in the first quarter with top line improvement and continued strategic execution across our portfolio.”
Company outlook — Reiterated (“reaffirming”)
“Today, we are reaffirming our fiscal 2026 guidance.”
Revenue — Reiterated (“reaffirming”)
“Outlook The company is reaffirming the following guidance for fiscal 2026: Organic net sales growth of (1)% to 1% compared to fiscal 2025 Adjusted operating margin between ~11.0% and ~11.5% Adjusted EPS between $1.70 and $1.85 CONAGRA BRANDS Page 4 The company now expects interest expense of approximately $390 million and an adjusted effective tax rate of approximately 24% for the fiscal year.”
EPS — Reiterated (“unchanged”)
“All other guidance metrics including equity earnings contribution, pension income, capital expenditures, free cash flow conversion, net leverage ratio, and the adjusted EPS benefit of the 53 rd week remain unchanged from what was provided in the company s fourth quarter fiscal 2025 earnings release.”
Classified from the release's primary full-year outlook statement.
Capital allocation
We successfully delivered on key supply chain objectives, fully restored service levels, and advanced our portfolio reshaping which enabled us to further reduce net debt.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
Net interest expense was $94 million in the quarter, an 11.4% decrease compared to the prior year period driven by a reduction in net debt.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
The average diluted share count in the quarter was 480 million shares, reflecting $15 million in share repurchases during the first quarter of fiscal 2026.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
In the quarter, the company paid a dividend of $0.35 per share.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
Cash Flow and Debt Update For the first quarter of fiscal 2026, the company generated $121 million in net cash flows from operating activities compared to $269 million in the prior year period, driven primarily by lower operating profit and increased levels of inventory reflecting inflationary cost increases in addition to rebuilding some inventory due to previous supply chain constraints.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
Capital expenditures were $147 million compared to $133 million in the prior year period.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
Strategy & priorities
The company is reaffirming its fiscal 2026 guidance, reflecting: Organic net sales growth of (1)% to 1% compared to fiscal 2025 Adjusted operating margin between ~11.0% and ~11.5% Adjusted EPS between $1.70 and $1.85 CEO Perspective Sean Connolly, president and chief executive officer of Conagra Brands, commented, I am pleased by the solid progress we made in the first quarter with top line improvement and continued strategic execution across our portfolio.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
Combined, these tariffs are expected to increase cost of goods sold by approximately 3% annually, prior to mitigating actions including accelerated cost savings initiatives, sourcing alternatives, and targeted pricing actions.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
We combine a 100-year history of making quality food with agility and a relentless focus on collaboration and innovation.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
Examples of forward-looking statements include statements regarding our expected future financial performance or position, results of operations, business strategy, plans and objectives of management for future operations, and other statements that are not historical facts.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
Risks & headwinds
While the tariff situation remains fluid, guidance contemplates a 50% tariff rate on imported tin plate steel and aluminum, a 30% rate on limited imports from China, and various country-specific reciprocal rates.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
Combined, these tariffs are expected to increase cost of goods sold by approximately 3% annually, prior to mitigating actions including accelerated cost savings initiatives, sourcing alternatives, and targeted pricing actions.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
Forward-looking statements provide our current expectations and beliefs concerning future events and are subject to risks, uncertainties, and factors relating to our business and operations, all of which are difficult to predict and could cause our actual results to differ materially from the expectations expressed in or implied by such forward-looking statements.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
Reconciliations of these forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures are not provided because the company is unable to provide such reconciliations without unreasonable effort, due to the uncertainty and inherent difficulty of predicting the timing and financial impact of such items.
SEC original ↗Conagra Brands Inc. — Earnings release (8-K exhibit)EX-99Oct 1, 2025
Competitors
Competitors & peers
Same GICS sector — classification peers, not declared competitors
Filings
31 documents- Q2 2026
- 10-QCAG
Sep 30, 2026
- 8-KCAG
Sep 30, 2026
- 8-KCAG
Sep 28, 2026
- 8-KCAG
Jul 28, 2026
- 8-KCAG
Jul 28, 2026
- 10-KCAG
Jul 15, 2026
- 8-KCAG
Jul 15, 2026
- Q1 2026
- 8-KCAG
Jun 23, 2026
- 8-KCAG
May 7, 2026
- 8-KCAG
Apr 13, 2026
- EX-99CAG
Apr 13, 2026
- 10-QCAG
Apr 1, 2026
- 8-KCAG
Apr 1, 2026
- Q4 2025
- 8-KCAG
Feb 18, 2026
- 8-KCAG
Feb 17, 2026
- Q3 2025
- 10-QCAG
Dec 19, 2025
- 8-KCAG
Dec 19, 2025
- 8-KCAG
Oct 6, 2025
- 10-QCAG
Oct 1, 2025
- 8-KCAG
Oct 1, 2025
- Q2 2025
- 8-K/ACAG
Sep 23, 2025
- 8-KCAG
Sep 22, 2025
- 8-KCAG
Sep 19, 2025
- 8-KCAG
Jul 22, 2025
- 10-KCAG
Jul 10, 2025
- 8-KCAG
Jul 10, 2025
- Q1 2025
- 8-KCAG
Jun 30, 2025
- 8-KCAG
Jun 18, 2025
- 8-KCAG
May 1, 2025
- 8-KCAG
Apr 30, 2025
- 10-QCAG
Apr 3, 2025
Earnings releases
7 documentsPresentations
0 documentsNo presentations for Conagra Brands Inc. are held in this edition of the library.
Transcripts
0 documentsNo transcripts for Conagra Brands Inc. are held in this edition of the library.
Mentioned by
5 companiesOther tracked companies whose held documents mention Conagra Brands Inc. by name or ticker. A mention is counted once per document, from the document text the library holds.
“e… …Achieves third quarter revenue growth of 7% as reported and 6% organic, supported by CAG Diagnostics recurring revenue growth of 7% as reported and organic. ▪ Organic revenue growth supported by benefits from… …1-207-556-8155 ”
Liquidity Services Inc. (LQDT)
“r than project losses and have strengthened our outlook for upcoming quarters. During Q3, CAG generated $57.5 million of GMV and $9.6 million of direct profit.… …of $0.32 was up 39% year-over-year, driven by GMV growth of 10% year-over-year to $453 m”
“ance to $4,700 million - $4,745 million, up $5 million at midpoint, reflecting benefit of CAG Diagnostics… …Selected Balance Sheet Information: Days sales outstanding 1 46.2 46.2 46.8 46.5 44.7 Inventory turns 2 1.4 1.4 1.6 ”
“o $4,675 million - $4,760 million, up $42 million or ~1% at midpoint, reflecting stronger CAG Diagnostics… …Selected Balance Sheet Information: Days sales outstanding 1 46.2 46.8 46.5 44.7 45.7 Inventory turns 2 1.4 1.6 1.5 ”
Arthur J. Gallagher & Co. (AJG)
“m Ops 2003 33 % CAGR $1.00 $0.80 $0.60 $0.40 $0.20 $0.00 1984 Dividends 2004 *$ 1.00 19 % CAG R … …services firm Public since 1984 Market capitalization of $2.8 billion Shares outstanding of 91.9 million Dividend yield of 3.3% 52-week range $24.64”
See also the earnings calendar for every tracked company’s next earnings date.