ConAgra Foods Inc (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 click here.