Packaged foods company Conagra Brands (NYSE: CAG) will be reporting results this Wednesday before market hours. Here’s what to expect.
Conagra met analysts’ revenue expectations last quarter, reporting revenues of $2.88 billion, up 3.6% year on year. It was a softer quarter for the company, with full-year EPS guidance missing analysts’ expectations and a miss of analysts’ EBITDA estimates.
Is Conagra a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Conagra’s revenue to decline 1.6% year on year, improving from the 5.8% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Conagra has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Conagra’s peers in the consumer staples segment, only General Mills has reported results so far. It exceeded analysts’ revenue estimates, posting year-on-year sales declines of 2.8%. The stock was down 1.7% on the results.
Read our full analysis of General Mills’s earnings results here.Over the past year, investors have repeatedly shifted their focus from one macro narrative to another (AI disruption and AI capex spending to geopolitics, interest rates, and the broader health of the economy). While some of the consumer staples stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 7.8% on average over the last month. Conagra is down 11.4% during the same time and is heading into earnings with an average analyst price target of $14.41 (compared to the current share price of $14.19).
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