ConAgra Brands (CAG) Tops Q3 EPS by 1c, Offers Guidance

ConAgra Brands (NYSE: CAG) reported Q3 EPS of $0.58, $0.01 better than the analyst estimate of $0.57. Revenue for the quarter came in at $2.91 billion versus the consensus estimate of $2.84 billion.

GUIDANCE:

ConAgra Brands sees Q4 2022 EPS of $0.64 vs 0.70 consensus.

The company's updated fiscal 2022 guidance is as follows:

• Organic net sales growth is expected to be approximately +4% versus prior guidance of approximately +3%
• Gross inflation (input cost inflation before the impacts of hedging and other sourcing benefits) is expected to be approximately 16% versus prior guidance of approximately 14%
• Adjusted operating margin is expected to be approximately 14.5% versus prior guidance of approximately 15.5%
• Adjusted EPS is expected to be approximately $2.35, versus prior guidance of approximately $2.50

The company's Fiscal 2022 fourth quarter guidance is as follows:

• Organic net sales growth is expected to be approximately +7%
• Gross inflation (input cost inflation before the impacts of hedging and other sourcing benefits) is expected to be approximately 16%
• Adjusted operating margin is expected to be approximately 15.5%
• Adjusted EPS is expected to be approximately $0.64

For earnings history and earnings-related data on ConAgra Brands (CAG) click here.

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