Conagra Brands reports Q3 adjusted EPS 69c, consensus 65c

Reports Q3 revenue $3.03B, consensus $3.01B. Sean Connolly, president and chief executive officer of Conagra Brands, commented, “Our Q3 results demonstrate steady progress stemming from strong execution. Volume trends in our domestic retail business continued to improve as targeted investments, particularly in frozen, generated strong lifts and unit share gains. Outstanding progress on our cost savings initiatives allowed us to support strategic investments in our brands while sustaining margin recovery. We also continued to deliver substantial improvements in free cash flow enabling us to meaningfully reduce our net leverage ratio over the first three quarters of 2024. Our long-term focus remains on executing our strategic priorities and generating value for our shareholders.”