Shares of Conagra Brands (NYSE:CAG) moved higher by 0.9% in pre-market trading after the company reported Q3 results.
Quarterly Results
Earnings per share rose 25.53% year over year to $0.59, which beat the estimate of $0.58.
Revenue of $2,771,000,000 up by 8.45% year over year, which beat the estimate of $2,720,000,000.
Outlook
Q4 EPS expected between $0.49 and $0.55.
Conagra Brands hasn’t issued any revenue guidance for the time being.
How To Listen To The Conference Call
Date: Apr 08, 2021
Time: 09:30 AM
ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/cag/mediaframe/44032/indexr.html
Price Action
Company’s 52-week high was at $39.34
Company’s 52-week low was at $30.12
Price action over last quarter: Up 10.21%
Company Overview
Conagra Brands is a packaged food company that operates predominantly in the United States (92% of revenue and 94% of profits). It has a significant presence in the freezer aisle, with brands such as Marie Callender’s, Healthy Choice, Banquet, and Birds Eye. Popular center-of-store brands include Duncan Hines, Hunt’s, Slim Jim, Vlasic, Orville Redenbacher’s, and Chef Boyardee. While the majority of revenue is sold into the U.S. retail channel, we estimate about 8% of fiscal 2020 sales were to the food-service channel, down from 10% if fiscal 2019 due to the pandemic.
