WASHINGTON (dpa-AFX) - While reporting financial results for the third quarter on Thursday, branded food company Conagra Brands, Inc. (CAG) reaffirmed its adjusted earnings and organic net sales growth guidance for the full-year 2025.
For fiscal 2025, the company continues to project adjusted earnings of about $2.35 per share on organic net sales decline of 2.0 percent.
On average, analysts polled expect the company to report earnings of $2.35 per share on a revenue decline of 2.37 percent to $11.76 billion for the year. Analysts' estimates typically exclude special items.
For the third quarter, net income attributable to Conagra more than halved to $145.1 million or $0.30 per share from $308.6 million or $0.64 per share in the prior-year quarter.
Excluding one-time items, adjusted net earnings were $0.51 per share, compared to $0.69 per share in the year-ago quarter. The Street was looking for earnings of $0.53 per share for the quarter.
Net Sales for the quarter declined 6.3 percent to $2.84 billion from $3.03 billion in the same quarter last year. Analysts expected revenues of $2.90 billion for the quarter. Organic sales decreased 5.2 percent.
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