Conagra invests in Missouri plant, creates jobs, but facing challenges.

From Yahoo Finance: 2025-05-12 06:53:00

Conagra Brands is investing $29.1m to upgrade equipment at its Missouri plant, creating 26 jobs. The project in Macon will replace outdated equipment and expand food cooling capabilities, including baking ovens and freezers. The Missouri Department of Economic Development will provide tax credits and capital support.

The investment follows the closure of Conagra’s pie filling plant in Michigan, affecting 85 jobs, and the Birds Eye frozen vegetables plant in Wisconsin, with 252 job losses. Conagra is also selling its Chef Boyardee business for $600m, trimming around 500 jobs from its workforce.

Conagra’s Chef Boyardee products generated $450m in net sales in 2024. The company’s third-quarter results forecast a decline in organic net sales for 2025. Adjusted operating margin and EPS are expected to be 14.4% and $2.35, respectively, with adjusted EPS dropping from $2.06 in 2024.

Overall, Conagra’s adjusted operating profit decreased 26% to $1.04bn, while net income fell 2% to $896.5m. Despite challenges, the company remains committed to investing in its operations and creating jobs in Missouri.

Read more: Conagra Brands creates jobs in Missouri with plant investment project