Conagra Brands shares rose 5.4% after Q3 FY2024 results exceeded analyst expectations, with a 10.1% decrease in adjusted earnings at $0.69 per share.
Conagra Brands shares surged 5.4% following better-than-expected Q3 results for FY2024. Despite a 1.7% year-over-year decline in net sales to $3.03 billion, the company reported a 10.1% decrease in adjusted earnings to $329 million or $0.69 per share, surpassing the average analyst expectation of $0.65 per share on similar revenue. Conagra attributes the quarter's performance to strong execution, improving volume trends in the domestic retail business, and the refrigerated and frozen foods segment. The company raised its FY2024 adjusted operating margin guidance from 15.6% to approximately 15.8%.
April 04, 2024
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