From Nasdaq: 2024-04-04 12:28:00

Conagra Brands (NYSE: CAG) released its Q3 2024 earnings report, showing a decline in revenue and net income. Despite challenges like inflation and price increases impacting consumer spending, the company managed to expand its gross margin to 28.3% and maintain a steady operating margin of 15.5%. Conagra updated its guidance, signaling confidence in managing costs and protecting profitability amidst economic headwinds.

CEO Sean Connolly highlighted Conagra’s progress in volume trends and cost-cutting initiatives during the earnings call. The company generated $1.22 billion in free cash flow year-to-date, a significant increase compared to the previous year. While facing rising input costs, supply chain disruptions, and changing consumer preferences, Conagra remains focused on efficiency and profitability in a competitive market.

Analysts have varying opinions on Conagra’s stock, with price targets ranging from $28 to $40 and a consensus around $32. The stock has experienced volatility over the past year, influenced by market trends and sector sentiment. Despite a recent 10% improvement, Conagra’s stock performance still shows a 20% decline over one year. Investors should consider the company’s strategic responses to inflation, competition, and changing consumer demands before making investment decisions.



Read more at Nasdaq:: Conagra Brands: Earnings, Strategies and the Road Ahead