The earnings call highlighted strong brand performance and alignment between shipments and consumption, driven by effective investment strategies in key segments like frozen and snacks. However, increased inflation and FX impacts led to revised financial expectations, affecting EPS and leverage targets. Overall, the sentiment reflects cautious optimism with challenges in managing inflationary pressures.

Company Guidance

During the Conagra Brands Q2 2025 earnings call, the executive team provided updated guidance, addressing several key metrics and factors impacting their financial outlook. They reported a 1% increase in shipments and a 0.6% rise in consumption for the quarter, with inventory levels remaining stable compared to the previous year. The company adjusted its full-year inflation forecast to nearly 4%, attributing the back half EPS pressure primarily to incremental inflation and foreign exchange impacts. Despite these challenges, Conagra maintained its leverage target of 3x by the end of fiscal 2026 and highlighted strong free cash flow performance, with a conversion rate exceeding 100% due to lower net income projections. The executives emphasized their strategic decision to continue investing in growth, particularly in their frozen and snack segments, leveraging consumer trends toward convenience and health-focused snacking solutions.

Positive Shipment and Consumption Alignment

Shipments increased by 1% while consumption rose by 0.6% for Q2, indicating closely aligned metrics with no Thanksgiving timing effect.

Strong Brand and Market Performance

Conagra Brands achieved industry-leading share performance, particularly in the frozen and snacks segments, with positive share trends over the last five quarters.

Effective Investment Strategy

Investments in innovation, advertising, and trade have been effective, with a focus on frozen and snacks leading to consistent top-line growth.

Successful Free Cash Flow Management

Free cash flow conversion is above 100% due to effective working capital management, particularly in inventory, and focus on organizational cash flow.

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Conagra Brands (CAG) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CAG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jan 02, 2025	2026 (Q2)	- / -	0.71	―	―	―
Dec 19, 2024	2025 (Q2)	0.68 / 0.70	0.71	-1.41% (-0.01)
Oct 02, 2024	2025 (Q1)	0.60 / 0.53	0.66	-19.70% (-0.13)
Jul 11, 2024	2024 (Q4)	0.57 / 0.61	0.62	-1.61% (-0.01)
Apr 04, 2024	2024 (Q3)	0.65 / 0.69	0.76	-9.21% (-0.07)
Jan 04, 2024	2024 (Q2)	0.68 / 0.71	0.81	-12.35% (-0.10)
Oct 05, 2023	2024 (Q1)	0.60 / 0.66	0.57	15.79% (+0.09)
Jul 13, 2023	2023 (Q4)	0.59 / 0.62	0.65	-4.62% (-0.03)
Apr 05, 2023	2023 (Q3)	0.64 / 0.76	0.58	31.03% (+0.18)
Jan 05, 2023	2023 (Q2)	0.66 / 0.81	0.64	26.56% (+0.17)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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CAG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Dec 19, 2024	$27.37	$26.81	-2.05%
Oct 02, 2024	$32.33	$29.72	-8.07%
Jul 11, 2024	$28.14	$27.72	-1.49%
Apr 04, 2024	$28.06	$29.59	+5.45%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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