Key TakeawaysConagra Brands gave a disappointing fiscal 2025 outlook, citing a tough consumer environment.The processed food company said it expects the consumer to remain challenged in the fiscal year ahead.Conagra posted better-than-expected profit in its fiscal 2024 fourth quarter, although revenue declined. Conagra Brands (CAG) shares fell Thursday as the processed food giant gave weaker-than-expected guidance amid what it called a “difficult consumer environment.” The provider of brands such as Birds E ...

文章核心观点 - 康佳集团(Conagra Brands)在2024年5月季度的收入为29.1亿美元,同比下降2.3% [1] - 该季度的每股收益为0.61美元,与去年同期的0.62美元相比有所下降 [1] - 公司的实际收入较市场预期的29.4亿美元低1.13% [2] - 每股收益则超出市场预期0.56美元的8.93% [2] 公司财务指标总结 收入 - 总收入同比下降2.3% [1] - 食品服务业务收入同比下降3.9%,低于市场预期下降0.8% [5] - 国际业务收入同比增长6.4%,高于市场预期4.6% [5] - 食品服务业务收入同比下降3.9%,低于市场预期下降0.8% [5] - 综合有机销售收入同比下降2.4%,低于市场预期下降1.5% [5] 销量 - 综合有机销量同比下降1.8%,低于市场预期下降1.1% [5] - 价格/组合同比下降0.6%,低于市场预期下降0.4% [5] - 食品和休闲食品业务有机销量同比下降3.6%,低于市场预期下降1.3% [5] 分部收入 - 食品和休闲食品业务收入为11.7亿美元,同比下降2.1%,低于市场预期11.9亿美元 [5] - 食品服务业务收入为2.914亿美元,同比下降3.9%,低于市场预期3.012亿美元 [5] - 国际业务收入为2.668亿美元,同比增长6.5%,高于市场预期2.62亿美元 [5] - 冷藏和冷冻业务收入为11.7亿美元,同比下降3.8%,略高于市场预期11.6亿美元 [5]

财务数据和关键指标变化 - 2024财年全年有机销售额下降2.1%,主要受到国内零售业务量恢复延迟的影响 [32] - 2024财年调整后毛利和调整后营业利润均增长0.3%,尽管销售额下降,但得益于供应链生产效率的提升抵消了成本上涨和销量下降的影响 [32] - 2024财年第四季度有机销售额下降2.4%,其中销量下降1.8%,价格/组合下降0.6% [35] - 2024财年第四季度调整后毛利率提升62个基点至27.6%,主要得益于生产效率提升抵消了通胀影响 [40] - 2024财年第四季度调整后营业利润率提升22个基点至14.8% [40] 各条业务线数据和关键指标变化 - 2024财年第四季度,杂货和休闲食品分部营业利润率提升220个基点,主要得益于早期的定价调整和过去年度肉类罐头召回的保险赔付 [41] - 2024财年第四季度,冷藏冷冻分部营业利润率下降172个基点,主要由于增加了品牌投资 [42] - 2024财年第四季度,国际分部营业利润率下降283个基点,主要由于加拿大业务的临时性供应链问题 [42] - 2024财年第四季度,餐饮服务分部营业利润率提升427个基点,主要由于停止了一些利润较低的业务 [42] 各个市场数据和关键指标变化 - 2024财年第四季度,国际业务销售额同比增长,其中墨西哥和全球出口业务表现强劲 [39] 公司战略和发展方向及行业竞争 - 公司在2024财年持续投资于品牌建设,以提高消费者的参与度和销量,取得了显著进展 [6][7][13] - 公司在冷冻和休闲食品等重点领域取得了市场份额的提升,表现优于行业整体 [15][16] - 公司在2024财年持续推进成本节约和生产效率提升计划,达到了长期目标 [25][26] - 公司预计2025财年消费环境仍将具有挑战性,但将逐步恢复正常,公司将继续投资于品牌建设以推动销量改善 [27][29] 管理层对经营环境和未来前景的评论 - 公司2024财年的业绩表现体现了其业务的韧性,为2025财年的进一步销量改善和利润率扩张奠定了基础 [13][30] - 公司预计2025财年有机销售额将下降1.5%至持平,调整后营业利润率为15.6%-15.8%,调整后每股收益为2.60-2.65美元 [30][50] - 公司预计2025财年第一季度将是全年最低点,之后每个季度销量将呈现顺序改善 [55] 其他重要信息 - 公司在2024财年大幅改善了自由现金流,净负债率从5.5倍降至3.4倍 [12][46][49] - 公司在2024财年进行了商誉和无形资产的减值测试,主要影响了冷藏冷冻和杂货休闲食品分部的利润 [43] - 公司在2024财年从阿登特磨坊合资企业获得的收益有所下降,反映了该业务向更正常的运营水平过渡 [45] - 公司宣布将维持每股1.40美元的年度股息,与调整后每股收益的中值相比派息率为53% [57]

FY24 Q4 Earnings Presentation July 11, 2024 1 Legal Disclosure Note on Forward-Looking Statements This document contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Readers of this document should understand that these statements are not guarantees of performance or results. Many factors could affect our actual financial results and ca ...

Conagra Brands (CAG) came out with quarterly earnings of $0.61 per share, beating the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.62 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.93%. A quarter ago, it was expected that this company would post earnings of $0.64 per share when it actually produced earnings of $0.69, delivering a surprise of 7.81%.Over the last four quarters, the company has ...

Exhibit 99.1 News Release For more information, please contact: MEDIA: Mike Cummins 312-549-5257 Michael.Cummins@conagra.com INVESTORS: Melissa Napier 312-549-5738 IR@conagra.com FOR IMMEDIATE RELEASE CONAGRA BRANDS REPORTS FOURTH QUARTER RESULTS AND QUARTERLY DIVIDEND CHICAGO, July 11, 2024 — Today Conagra Brands, Inc. (NYSE: CAG) reported results for the fourth quarter and full year fiscal year 2024, which ended on May 26, 2024. All comparisons are against the prioryear fiscal period, unless otherwise not ...

CHICAGO, July 11, 2024 /PRNewswire/ -- Today Conagra Brands, Inc. (NYSE: CAG) reported results for the fourth quarter and full year fiscal year 2024, which ended on May 26, 2024. All comparisons are against the prior-year fiscal period, unless otherwise noted.HighlightsFourth quarter:Reported net sales decreased 2.3% and organic net sales decreased 2.4%Reported operating margin was (19.1)%; adjusted operating margin was 14.8%Reported diluted loss per share for the fourth quarter was $1.18, primarily as a re ...

Loading...Loading...Conagra Brands, Inc. CAG will release its fiscal 2024 fourth quarter financial results, before the opening bell on Thursday, July 11.Analysts expect the Chicago, Illinois-based company to report quarterly earnings at 57 cents per share, down from 62 cents per share in the year-ago period. Conagra Brands is expected to post revenue of $2.93 billion, compared to $2.97 billion a year earlier, according to data from Benzinga Pro.On April 11, Conagra Brands announced a quarterly dividend paym ...

Grand Prize Includes an Outdoor At-Home Theater, One-Year Supply of Orville Redenbacher's Microwave Popcorn and SeasoningsCHICAGO, July 9, 2024 /PRNewswire/ -- Orville Redenbacher's® Gourmet Popping Corn, America's leading fresh popped popcorn brand1, and Hallmark Channel, the #1 destination for feel-good seasonal entertainment, are offering the "Ultimate Outdoor Movie Night" Sweepstakes. The grand prize – an outdoor movie theater package – will bring Hallmark's sweetest summer movies to your own backyard.  ...

Thomas BarwickDear readers/followers, Conagra Brands (NYSE:CAG) is slated to present earnings for 1Q24, which is in three days from my time of writing this article. Because Conagra remains a non-trivial position in my commercial and personal portfolio, I intend to present you with an earnings preview here - both looking at what upside we may get for Conagra. I have been pushing capital to work here since the company has been cheap, in my estimate. And in my estimate, the company is "cheap" below a $29 s ...