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Conagra Gains 5 percent After Q3 Beat

Conagra Brands (NYSE:CAG) shares rose by 5% intra-day today, following the announcement of fiscal Q3/24 results that exceeded market expectations.
The company announced earnings per share of $0.69, surpassing the predicted $0.64. Its quarterly revenue reached $3.03 billion, exceeding the forecast of $3.01 billion. Although the adjusted operating margin dipped slightly to 16.4% from the previous year’s 16.9%, it was still higher than the expected 15.7%.
Looking forward, Conagra adjusted its full-year 2024 earnings per share guidance to a range of $2.60 to $2.65, compared to the analysts’ predictions of $2.60. Furthermore, the company anticipates a 1-2% drop in organic net sales.

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