Investing.com — ConAgra Manufacturers, Inc. (NYSE: CAG) reported second-quarter fiscal 2025 outcomes that exceeded analyst expectations for each earnings and income however lowered its full-year earnings steering.
The packaged meals firm posted adjusted earnings per share of $0.70, surpassing the analyst consensus of $0.68. Income got here in at $3.2 billion, barely above estimates of $3.15 billion. Nonetheless, reported internet gross sales decreased 0.4% YoY, whereas natural internet gross sales elevated 0.3%.
ConAgra up to date its fiscal 2025 outlook, now projecting adjusted earnings per share between $2.45 and $2.50, under the analyst consensus of $2.58 and decrease than its prior goal of between $2.60 and $2.65. The corporate expects natural internet gross sales close to the midpoint of a spread between -1.5% to flat in comparison with fiscal 2024.
Sean Connolly, President and CEO of ConAgra Manufacturers, commented, “Our enterprise returned to progress within the second quarter regardless of a continued difficult client surroundings as our investments paid off, driving robust market share efficiency. Whereas momentum stays robust, we anticipate the enterprise to be impacted by two headwinds within the again half, together with increased than anticipated inflation and unfavorable overseas trade charges, main us to replace our fiscal 2025 outlook.”
The corporate’s Grocery & Snacks phase noticed a 2.0% enhance in internet gross sales to $1.3 billion, whereas the Refrigerated & Frozen phase remained flat at $1.3 billion. The Worldwide phase skilled a 12.9% lower in internet gross sales to $243 million.
ConAgra’s inventory is down round 0.3% premarket.