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CONAGRA BRANDS INC. — Executive Summary of Results: Q1 FY2026
$CAG (Conagra Brands Inc) Period: June 1 – August 31, 2025 | Reported: September 26, 2025
Current Context: September 26, 2025
Key Financial Results (Verified Official Data)
Breakdown by Business Segment
Strong Segment Comment
International showed positive growth despite the challenging environment.
Weak Segment Comment
Refrigerated & Frozen suffered the largest drop (–7%), affected by lower demand for frozen foods.
Stable Segment Comment
Foodservice fell slightly, remaining a stable segment within the portfolio.
Margins and Other Key Indicators
Risks and Relevant Factors
Official FY2026 Guidance (Updated in Q1)
Note on guidance and strategic context
Conagra cuts its annual guidance due to sales pressure and weak demand in the U.S., although it maintains focus on efficiency and cost reduction.
Executive Conclusion
Upcoming Key Milestones
The content of this template is for informational purposes only and does not constitute any investment recommendation.
CONAGRA BRANDS INC. — Executive Summary of Results: Q1 FY2026$CAG (Conagra Brands Inc) Period: June 1 – August 31, 2025 | Reported: September 26, 2025
Current Context: September 26, 2025
Key Financial Results (Verified Official Data)| Concept | Q1 FY2026 | Q1 FY2025 | YoY variation |
|---|---|---|---|
| Net Sales / Total Revenue | US$ 2.90 billion | US$ 3.09 billion | ▼ –6.1 % |
| Diluted EPS (GAAP) | US$ 0.58 | US$ 0.66 | ▼ –12.1 % |
| Adjusted EPS (non-GAAP) | US$ 0.62 | US$ 0.66 | ▼ –6.1 % |
| Adjusted Operating Margin | 14.3 % | 13.8 % | ▲ +50 pb |
- Missed consensus expectations:
- Expected revenue: ~US$2.95B → miss of –US$50M
- Expected adjusted EPS: ~US$0.64 → miss of –US$0.02
Breakdown by Business Segment| Segment | Sales Q1 FY2026 | YoY Variation (Organic) |
|---|---|---|
| Grocery & Snacks | US$ 1.15B | ▼ –5.0 % |
| Refrigerated & Frozen | US$ 1.25B | ▼ –7.0 % |
| International | US$ 0.30B | ▲ +2.0 % |
| Foodservice | US$ 0.20B | ▼ –4.0 % |
Strong Segment CommentInternational showed positive growth despite the challenging environment.
Weak Segment CommentRefrigerated & Frozen suffered the largest drop (–7%), affected by lower demand for frozen foods.
Stable Segment CommentFoodservice fell slightly, remaining a stable segment within the portfolio.
Margins and Other Key Indicators| Indicator | Q1 FY2026 |
|---|---|
| Gross Margin (GAAP) | ≈ 26.5 % |
| Gross Margin (adjusted) | ≈ 27.0 % |
| SG&A as % of sales | ≈ 12.7 % |
| Extraordinary impact on EPS | –US$0.03 for restructuring and operating efficiency costs |
Risks and Relevant Factors- Inflationary pressure: Higher costs of inputs and packaging.
- Weak domestic demand: Consumers are migrating to cheaper brands.
- Competition in frozen foods and snacks: High promotional intensity in supermarkets.
Official FY2026 Guidance (Updated in Q1)| Concept | Previous Range | Updated Range |
|---|---|---|
| Estimated Income | US$ 12.00B – 12.20B | US$ 11.80B – 12.00B |
| Estimated Adjusted EPS | US$ 2.55 – 2.65 | US$ 2.45 – 2.55 |
Note on guidance and strategic context Conagra cuts its annual guidance due to sales pressure and weak demand in the U.S., although it maintains focus on efficiency and cost reduction.
Executive Conclusion- Revenue of US$2.90B, down -6.1% YoY.
- Adjusted EPS of US$0.62, below expectations.
- Operating margin improved, but did not offset weak sales.
- FY2026 guidance adjusted downwards, showing caution in light of the environment.
Upcoming Key Milestones- December 2025: Q2 FY2026 results release.
- First half of 2026: Impact of new cost-saving initiatives.
- Full FY2026: Performance review in key categories (snacks and frozen foods).
The content of this template is for informational purposes only and does not constitute any investment recommendation.
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