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Conagra Brands posted a $663.6M net loss due to a $968M charge, despite beating earnings estimates, as revenue fell and shares dropped.
Conagra Brands reported a $663.6 million net loss for its second quarter, driven by a $968 million non-cash impairment charge, despite adjusted earnings of $0.45 per share slightly beating estimates.
Revenue fell 6.8% to $2.98 billion, with volumes down 3%, reflecting ongoing consumer spending pressures.
The company reaffirmed its full-year fiscal 2026 guidance for adjusted EPS of $1.70 to $1.85 and organic sales between a 1% decline and 1% growth, though it revised organic sales outlook to a 2% decline.
Shares dropped 2.9% to $17.43, down 37% year-to-date, trading below its 200-day moving average.
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Conagra Brands registró una pérdida neta de $663.6M debido a un cargo de $968M, a pesar de superar las estimaciones de ganancias, a medida que los ingresos cayeron y las acciones cayeron.