FY25 Q3 Earnings Presentation April 3, 2025 1 Legal Disclosure 3 Key Messages Note on Forward-Looking Statements This document contains forward-looking statements within the meaning of the federal securities laws. Examples of forward-looking statements include statements regarding the company's expected future financial performance or position, results of operations, business strategy, plans and objectives of management for future operations, and other statements that are not historical facts. You can ident ...

Financial Performance - Net sales decreased 6.3% to $2.8 billion, with organic net sales down 5.2% driven by a 2.1% negative impact from price/mix and a 3.1% decrease in volume[5]. - Gross profit decreased 17.3% to $710 million, and adjusted gross profit decreased 19.1% to $704 million due to lower net sales and inflation in cost of goods sold[6]. - Reported diluted earnings per share (EPS) was $0.30, a 53.1% decrease, while adjusted EPS was $0.51, a 26.1% decrease[6]. - Net income attributable to Conagra Brands decreased 53.0% to $145 million, or $0.30 per diluted share, compared to $309 million, or $0.64 per diluted share in the prior year[11]. - Year-to-date net sales were $8,831.0 million, a decline of 3.4% from $9,145.0 million in the same period last year[53]. - Year-to-date net income attributable to Conagra Brands, Inc. was $896.4 million, down 2.0% from $914.5 million year-over-year[53]. - Adjusted net income for Q3 FY25 was $242.1 million, with diluted EPS of $0.51, down 26.3% compared to the previous year[59]. - Net income for the thirty-nine weeks ended February 23, 2025, was $896.5 million, down from $914.9 million, reflecting a decrease of about 2.6%[55]. Cash Flow and Debt - Free cash flow decreased by $180 million to $1.0 billion, with capital expenditures at $304 million compared to $310 million in the prior year[25]. - The company ended the quarter with net debt of $8.1 billion, representing a 5.9% reduction in net debt versus the prior year period[28]. - Cash and cash equivalents at the end of the period decreased to $49.4 million from $78.5 million, a drop of approximately 37.1%[55]. - Year-to-date (YTD) net cash flows from operating activities decreased by 12.1% to $1,346.2 million compared to $1,531.3 million in the previous year[63]. - Free cash flow for YTD FY25 was $1,042.0 million, down 14.7% from $1,221.7 million in FY24[63]. - Total debt as of February 23, 2025, was $8,145.1 million, down from $8,677.3 million in the previous year[63]. - The net debt to adjusted EBITDA ratio was 3.59 as of February 23, 2025[64]. Segment Performance - The Grocery & Snacks segment net sales decreased 3.2% to $1.2 billion, with a volume share gain in snacking and staples categories[13]. - Year-over-year change in net sales for the Grocery & Snacks segment was a decrease of 3.9%[56]. - Grocery & Snacks segment operating profit decreased by 20.6% year-over-year to $237.6 million[57]. - Refrigerated & Frozen segment operating profit saw a significant decline of 52.5% year-over-year, totaling $95.7 million[57]. - The International segment reported a 49.8% increase in operating profit year-over-year, reaching $107.6 million[58]. - Conagra Brands experienced a decline in adjusted operating profit across all segments, with the most significant drop in Refrigerated & Frozen at 38.8%[57]. Expenses and Costs - Selling, general, and administrative expense (SG&A) increased 14.5% to $444 million, primarily due to charges related to legacy legal matters[9]. - The effective tax rate was 23.3%, slightly down from 23.7% in the prior year quarter[23]. - Cost of goods sold decreased by 2.0% to $2,130.7 million from $2,174.1 million year-over-year[52]. - Legal matters accounted for $95.8 million in expenses in Q3 FY25, impacting overall profitability[57]. - The company reported a loss on divestitures of $27.2 million in the third quarter, compared to no loss in the same period last year[52]. - The company reported asset impairment charges of $121.3 million for the thirty-nine weeks ended February 23, 2025, compared to $50.9 million in the prior year[55]. - Restructuring plans contributed $90.7 million to operating profit adjustments YTD[58]. Guidance and Future Outlook - The company's fiscal 2025 guidance remains unchanged, expecting organic net sales to decline approximately 2% compared to fiscal 2024 and adjusted EPS of approximately $2.35[6][35]. - The company revised its calculation methodology for Adjusted SG&A to include advertising and promotional expenses, impacting prior-year comparisons[47]. Other Financial Metrics - Adjusted EBITDA for YTD FY25 was $1,680.4 million, reflecting an 11.9% decrease from $1,906.8 million in FY24[65]. - Year-to-date (YTD) reported gross profit for Q3 FY25 was $2,296.3 million, accounting for 26.0% of net sales, a decline of 9.2% year-over-year[61]. - The company reported a corporate hedging derivative loss of $7.7 million in Q3 FY25, affecting overall profitability[59]. - The company incurred a net cash outflow from investing activities of $457.2 million, compared to $295.6 million in the previous year[55].

Group 1 - Conagra Brands, Inc. is set to release its third-quarter earnings results on April 3, with analysts expecting earnings of 53 cents per share, a decrease from 69 cents per share in the same period last year [1] - The projected quarterly revenue for Conagra is $2.9 billion, down from $3.03 billion a year earlier [1] - Conagra Brands has partnered with Bloom Energy Corp to implement advanced fuel cell technology at two manufacturing plants in Ohio [2] Group 2 - Conagra Brands shares experienced a decline of 0.8%, closing at $26.38 [2] - Recent analyst ratings include Morgan Stanley initiating coverage with an Equal-Weight rating and a price target of $27 [5] - JP Morgan maintained a Neutral rating and reduced the price target from $29 to $26 [5] - Stifel and Wells Fargo also maintained Hold and Equal-Weight ratings respectively, with price targets adjusted to $26 and $27 [5] - B of A Securities maintained a Neutral rating and cut the price target from $31 to $29 [5]

Conagra Brands, Inc. CAG will release its third-quarter earnings results before the opening bell on Thursday, April 3.Analysts expect the Chicago-based company to report quarterly earnings at 53 cents per share, down from 69 cents per share in the year-ago period. According to data from Benzinga Pro, Conagra projects quarterly revenue at $2.9 billion, compared to $3.03 billion a year earlier.Conagra Brands announced on Tuesday that it’s teaming up with Bloom Energy Corp BE to integrate advanced fuel cell te ...

Conagra Brands, Inc. (CAG) is likely to register a decline in its top and bottom lines when it reports third- quarter fiscal 2025 earnings on April 3. The Zacks Consensus Estimate for revenues is pegged at $2.9 billion, which suggests a decrease of 4.7% from the prior-year quarter's reported figure. The consensus mark for quarterly earnings has moved down by a couple of cents in the past 30 days to 52 cents per share. This indicates a decline of 24.6% from the year-ago quarter's reported figure. CAG has a t ...

New Technology Leverages Renewable Energy Solutions and Advances Conagra's Climate Change Goals CHICAGO, April 1, 2025 /PRNewswire/ -- Conagra Brands, Inc. (NYSE: CAG) and Bloom Energy (NYSE: BE), a global leader in power solutions, today announced they will collaborate to utilize Bloom's fuel cell technology at Conagra's Troy and Archbold, Ohio production facilities. The 15-year PPA (power purchase agreement) will deploy approximately six megawatts and provide combustion-free electricity generation, supply ...

Wall Street analysts forecast that Conagra Brands (CAG) will report quarterly earnings of $0.52 per share in its upcoming release, pointing to a year-over-year decline of 24.6%. It is anticipated that revenues will amount to $2.89 billion, exhibiting a decline of 4.7% compared to the year-ago quarter. The consensus EPS estimate for the quarter has undergone a downward revision of 2.1% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassesse ...

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Company Overview - Conagra Brands, Inc. is one of North America's leading branded food companies with a history of over 100 years in quality food production [3] - The company generated net sales of more than $12 billion in fiscal 2024 [3] - Conagra's brand portfolio includes well-known names such as Birds Eye®, Duncan Hines®, Healthy Choice®, and Slim Jim® [3] Upcoming Financial Results - Conagra Brands will release its fiscal 2025 third quarter results on April 3, 2025 [1] - A press release and supplemental materials will be available that morning, followed by a 30-minute live Q&A session with the investment community at 9:30 a.m. ET [1] Access to Information - The pre-recorded remarks, transcript, press release, and presentation slides will be accessible at conagrabrands.com/investor-relations under Events & Presentations [2] - The live audio Q&A can be accessed via phone for U.S. participants at 1-877-883-0383 and for international participants at 1-412-902-6506 using passcode: 8551232 [2]