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Conagra Brands (CAG) Reports Q3 Earnings: What Key Metrics Have to Say
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Conagra Brands (CAG - Free Report) reported $3.03 billion in revenue for the quarter ended February 2024, representing a year-over-year decline of 1.7%. EPS of $0.69 for the same period compares to $0.76 a year ago.
The reported revenue represents a surprise of +0.65% over the Zacks Consensus Estimate of $3.01 billion. With the consensus EPS estimate being $0.64, the EPS surprise was +7.81%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Conagra Brands performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales growth - Total Sales: -1.7% versus the five-analyst average estimate of -2.4%.
Net Sales growth - International: 4.6% compared to the 3.9% average estimate based on four analysts.
Net Sales growth - Foodservice: -1% compared to the 1.8% average estimate based on four analysts.
Net Sales growth - Grocery & Snacks: 3.4% versus the four-analyst average estimate of -2.8%.
Net Sales growth - Refrigerated & Frozen: -8.1% versus the four-analyst average estimate of -4.1%.
Price/Mix - Foodservice: 3.8% compared to the 3.7% average estimate based on four analysts.
Volume (Organic) - Foodservice: -4.8% versus the four-analyst average estimate of -1.9%.
Price/Mix - International: -1.7% versus the four-analyst average estimate of 1%.
Sales- Grocery & Snacks: $1.29 billion versus the four-analyst average estimate of $1.21 billion. The reported number represents a year-over-year change of +3.4%.
Sales- Foodservice: $272.80 million versus $280.32 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -0.9% change.
Sales- International: $271.70 million versus $269.87 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4.6% change.
Sales- Refrigerated & Frozen: $1.20 billion compared to the $1.25 billion average estimate based on four analysts. The reported number represents a change of -8.1% year over year.
Shares of Conagra Brands have returned +4% over the past month versus the Zacks S&P 500 composite's +1.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Conagra Brands (CAG) Reports Q3 Earnings: What Key Metrics Have to Say
Conagra Brands (CAG - Free Report) reported $3.03 billion in revenue for the quarter ended February 2024, representing a year-over-year decline of 1.7%. EPS of $0.69 for the same period compares to $0.76 a year ago.
The reported revenue represents a surprise of +0.65% over the Zacks Consensus Estimate of $3.01 billion. With the consensus EPS estimate being $0.64, the EPS surprise was +7.81%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Conagra Brands performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales growth - Total Sales: -1.7% versus the five-analyst average estimate of -2.4%.
- Net Sales growth - International: 4.6% compared to the 3.9% average estimate based on four analysts.
- Net Sales growth - Foodservice: -1% compared to the 1.8% average estimate based on four analysts.
- Net Sales growth - Grocery & Snacks: 3.4% versus the four-analyst average estimate of -2.8%.
- Net Sales growth - Refrigerated & Frozen: -8.1% versus the four-analyst average estimate of -4.1%.
- Price/Mix - Foodservice: 3.8% compared to the 3.7% average estimate based on four analysts.
- Volume (Organic) - Foodservice: -4.8% versus the four-analyst average estimate of -1.9%.
- Price/Mix - International: -1.7% versus the four-analyst average estimate of 1%.
- Sales- Grocery & Snacks: $1.29 billion versus the four-analyst average estimate of $1.21 billion. The reported number represents a year-over-year change of +3.4%.
- Sales- Foodservice: $272.80 million versus $280.32 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -0.9% change.
- Sales- International: $271.70 million versus $269.87 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4.6% change.
- Sales- Refrigerated & Frozen: $1.20 billion compared to the $1.25 billion average estimate based on four analysts. The reported number represents a change of -8.1% year over year.
View all Key Company Metrics for Conagra Brands here>>>Shares of Conagra Brands have returned +4% over the past month versus the Zacks S&P 500 composite's +1.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.