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Conagra Brands Inc (CAG.N)

CAG.N on New York Stock Exchange

35.50USD
29 Oct 2020
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Latest Key Developments (Source: Significant Developments)

Conagra Brands Reports Strong First Quarter Results
Thursday, 1 Oct 2020 

Oct 1 (Reuters) - Conagra Brands Inc ::CONAGRA BRANDS REPORTS STRONG FIRST QUARTER RESULTS.Q1 ADJUSTED EARNINGS PER SHARE $0.70.Q1 EARNINGS PER SHARE $0.67 FROM CONTINUING OPERATIONS.Q1 EARNINGS PER SHARE ESTIMATE $0.57 -- REFINITIV IBES DATA.SEES Q2 ADJUSTED EARNINGS PER SHARE $0.70 TO $0.74.Q1 SALES $2.7 BILLION VERSUS REFINITIV IBES ESTIMATE OF $2.61 BILLION.Q1 EARNINGS PER SHARE $0.67.ALL FOUR OF COMPANY'S SEGMENTS REPORTED MARGIN EXPANSION IN QUARTER.QTRLY TOTAL COMPANY OPERATING MARGIN INCREASED 800 BASIS POINTS TO 19.0%.NET SALES FOR THE GROCERY & SNACKS SEGMENT INCREASED 16.0% TO $1.1 BILLION IN THE QUARTER.SEES Q2 ORGANIC NET SALES GROWTH IS EXPECTED IN RANGE OF +6% TO +8%.NET SALES FOR THE REFRIGERATED & FROZEN SEGMENT INCREASED 17.9% TO $1.1 BILLION IN THE QUARTER.REAFFIRMING ITS FISCAL 2022 ALGORITHM.CONAGRA BRANDS - CONTINUES TO EXPECT DEMAND IN RETAIL TO REMAIN ELEVATED AND DEMAND IN FOODSERVICE TO REMAIN CHALLENGED VERSUS HISTORICAL NORMS.TOTAL DEBT OF $9.6 BILLION AND NET DEBT OF $9.2 BILLION AS OF END OF Q1 OF FISCAL 2021.  Full Article

Conagra Brands Increases Quarterly Cash Dividend By 29%
Thursday, 1 Oct 2020 

Oct 1 (Reuters) - Conagra Brands Inc ::CONAGRA BRANDS INCREASES QUARTERLY CASH DIVIDEND BY 29 PERCENT.CONAGRA BRANDS - DECLARED A QUARTERLY CASH DIVIDEND OF $0.275 PER SHARE OF COMMON STOCK.  Full Article

Conagra Brands Inc Says Board Approved A Quarterly Dividend Payment Of $0.2125 Per Share
Friday, 24 Jul 2020 

July 24 (Reuters) - Conagra Brands Inc ::CONAGRA BRANDS INC - BOARD APPROVED A QUARTERLY DIVIDEND PAYMENT OF $0.2125 PER SHARE.  Full Article

Conagra Brands Reports Fourth Quarter Results
Tuesday, 30 Jun 2020 

June 30 (Reuters) - Conagra Brands Inc ::CONAGRA BRANDS REPORTS STRONG FOURTH QUARTER AND FULL-YEAR RESULTS.Q4 ADJUSTED EARNINGS PER SHARE $0.75.Q4 EARNINGS PER SHARE $0.41 FROM CONTINUING OPERATIONS.Q4 EARNINGS PER SHARE ESTIMATE $0.64 -- REFINITIV IBES DATA.SEES Q1 ADJUSTED EARNINGS PER SHARE $0.54 TO $0.59.Q4 EARNINGS PER SHARE $0.41.Q4 NET SALES INCREASED 25.8%; ORGANIC NET SALES INCREASED 21.5%.IN QUARTER, NET SALES INCREASED 25.8% TO $3.3 BILLION.REMAINS ON-TRACK TO DELIVER ITS FISCAL 2022 ALGORITHM.NET SALES FOR REFRIGERATED & FROZEN SEGMENT INCREASED 23.3% TO $1.4 BILLION IN QUARTER.IMPACT THAT COVID-19 PANDEMIC WILL HAVE ON COMPANY'S FISCAL 2021 CONSOLIDATED RESULTS REMAINS UNCERTAIN.NET SALES FOR GROCERY & SNACKS SEGMENT INCREASED 44.1% TO $1.5 BILLION IN QUARTER.DOES EXPECT RETAIL AND FOODSERVICE DEMAND LEVELS TO TREND TOWARD HISTORICAL NORMS AS FISCAL YEAR PROGRESSES.PROVIDING GUIDANCE FOR Q1 FISCAL 2021 OF ORGANIC NET SALES GROWTH IN RANGE OF 10% TO 13%.TO-DATE IN Q1, CO HAS CONTINUED TO SEE A SIGNIFICANT INCREASE IN DEMAND IN ITS RETAIL BUSINESS.TO-DATE IN Q1, CO CONTINUED TO SEE REDUCED DEMAND FOR ITS FOODSERVICE PRODUCTS VERSUS PRE-COVID-19 PANDEMIC DEMAND LEVELS.COVID-19 RELATED COSTS HAVE ALSO CONTINUED TO IMPACT BUSINESS TO-DATE IN Q1.SEES Q1 ADJUSTED EPS OF $0.54 TO $0.59.Q1 EARNINGS PER SHARE VIEW $0.54, REVENUE VIEW $2.52 BILLION -- REFINITIV IBES DATA.  Full Article

Conagra Reports Debt Pre-Payment And Secures Additional Liquidity
Thursday, 21 May 2020 

May 21 (Reuters) - Conagra Brands Inc ::CONAGRA BRANDS INC - ANNOUNCES DEBT PRE-PAYMENT AND SECURES ADDITIONAL LIQUIDITY.CONAGRA BRANDS INC - WILL PRE-PAY, REMAINING $275 MILLION UNDER SENIOR NOTES DUE OCTOBER 22.CONAGRA BRANDS - CONFIDENT IT WILL ACHIEVE ITS FISCAL YEAR 2021 NET DEBT TO TRAILING 12 MONTHS ADJUSTED EBITDA LEVERAGE RATIO TARGET OF 3.6 TO 3.5.CONAGRA BRANDS INC - OBTAINED $600 MILLION SENIOR 3-YEAR UNSECURED TERM LOAN WHICH CAN BE DRAWN THROUGH OCT..CONAGRA BRANDS INC - COMMITTED TO MAINTAINING DIVIDEND.  Full Article

Conagra Brands Announces Quarterly Dividend Payment
Friday, 17 Apr 2020 

April 16 (Reuters) - Conagra Brands Inc ::CONAGRA BRANDS ANNOUNCES QUARTERLY DIVIDEND PAYMENT.  Full Article

USDA Food Safety & Inspection Service Says Conagra Brands Recalls About 130,763 Pounds Of Frozen Not-Ready-To-Eat Chicken Bowl Products
Saturday, 11 Apr 2020 

April 10 (Reuters) - USDA Food Safety and Inspection Service::USDA FOOD SAFETY & INSPECTION SERVICE - CONAGRA BRANDS RECALLS FROZEN NOT-READY-TO-EAT CHICKEN BOWL PRODUCTS DUE TO POSSIBLE FOREIGN MATTER CONTAMINATION.USDA FOOD SAFETY & INSPECTION SERVICE - IDENTIFIES CONAGRA BRANDS' FROZEN NOT-READY-TO-EAT CHICKEN BOWL PRODUCTS RECALL AS CLASS I RECALL.USDA FOOD SAFETY & INSPECTION SERVICE - CONAGRA BRANDS IS RECALLING ABOUT 130,763 POUNDS OF NOT READY-TO-EAT CHICKEN BOWL PRODUCTS.  Full Article

Conagra Brands Inc - Reaffirming Fiscal 2020 Guidance
Wednesday, 8 Apr 2020 

April 8 (Reuters) - Conagra Brands Inc ::REAFFIRMING FISCAL 2020 GUIDANCE.TOTAL CONAGRA RETAIL SALES UP 30.6% FOR ONE WEEK PERIOD ENDED MARCH 29, 2020.FY2020 EARNINGS PER SHARE VIEW $2.19, REVENUE VIEW $10.86 BILLION -- REFINITIV IBES DATA.  Full Article

Conagra Brands Reports Q3 Earnings Per Share Of $0.42
Tuesday, 31 Mar 2020 

March 31 (Reuters) - Conagra Brands Inc ::CONAGRA BRANDS REPORTS THIRD QUARTER RESULTS.Q3 ADJUSTED EARNINGS PER SHARE $0.47.Q3 EARNINGS PER SHARE $0.42 FROM CONTINUING OPERATIONS.Q3 EARNINGS PER SHARE ESTIMATE $0.49 -- REFINITIV IBES DATA.Q3 SALES $2.6 BILLION VERSUS REFINITIV IBES ESTIMATE OF $2.58 BILLION.Q3 EARNINGS PER SHARE $0.42.Q3 NET SALES DECREASED 5.6%; ORGANIC NET SALES DECREASED 1.7%.NET SALES FOR GROCERY & SNACKS SEGMENT DECREASED 9.5% TO $1.02 BILLION IN QUARTER.REDUCED DEBT BY $450 MILLION IN QUARTER AND REMAINED ON-TRACK WITH ITS DE-LEVERAGING TARGET OF 3.6X TO 3.5X BY END OF FISCAL 2021.IMPACT COVID-19 PANDEMIC WILL HAVE ON COMPANY'S FISCAL 2020 CONSOLIDATED RESULTS OF OPERATIONS IS UNCERTAIN."NOW BELIEVE THAT WE WILL EXCEED OUR FISCAL 2020 SALES AND PROFIT GUIDANCE".TO-DATE IN Q4, COMPANY HAS SEEN SIGNIFICANTLY INCREASED DEMAND IN ITS RETAIL BUSINESS.CONAGRA BRANDS- HAS ALSO STARTED TO SEE REDUCED DEMAND FOR ITS FOODSERVICE PRODUCTS, EXPECTS A 50-60% DECLINE IN FOODSERVICE ORGANIC NET SALES IN Q4.CO'S SUPPLY CHAIN HAS EFFECTIVELY SERVICED DEMAND TO-DATE.SEES FY 2020 ORGANIC NET SALES GROWTH ABOVE HIGH END OF RANGE OF PRIOR FISCAL 2020 GUIDANCE.  Full Article

Conagra Brands Announces Production And Distribution Facility Employee Cash Bonus For Extraordinary Efforts During COVID-19
Friday, 27 Mar 2020 

March 27 (Reuters) - Conagra Brands Inc ::CONAGRA BRANDS ANNOUNCES PRODUCTION AND DISTRIBUTION FACILITY EMPLOYEE CASH BONUS FOR EXTRAORDINARY EFFORTS DURING COVID-19.CONAGRA BRANDS INC - FULL-TIME EMPLOYEES IN U.S. WILL RECEIVE $500 AND PART-TIME EMPLOYEES WILL RECEIVE $250.  Full Article

UPDATE 2-Conagra says retailer order boom may ease after big quarter

Oct 1 Conagra Brands Inc put better-than-expected first quarter sales on Thursday down to heavy ordering by retailers worried about the durability of supply chains in the months ahead as a second wave of coronavirus cases takes hold.