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2021-07-14
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Conagra Shares Fall After Downbeat FY22 Outlook
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Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1626188420,"share":"https://www.laohu8.com/m/news/2151699115?lang=&edition=full","pubTime":"2021-07-13 23:00","market":"us","language":"en","title":"Conagra Shares Fall After Downbeat FY22 Outlook","url":"https://stock-news.laohu8.com/highlight/detail?id=2151699115","media":"Benzinga","summary":"\n","content":"<ul>\n <li>Consumer packaged goods company <b>Conagra Brands Inc </b>(NYSE:CAG) reported fourth quarter FY21 sales of $2.73 billion, a 16.68% fall year-on-year, beating the consensus of $2.71 billion.</li>\n <li>Grocery & Snacks segment sales fell 26.4% Y/Y to $1.1 billion and Refrigerated & Frozen segment sales decreased 12.0% Y/Y to $1.2 billion.</li>\n <li>Adjusted gross profit fell 22.4% to $721 million.</li>\n <li>Adjusted gross margin decreased 194 basis points Y/Y to 26.3%.</li>\n <li>Adjusted operating margin decreased 311 basis points Y/Y to 14.0%.</li>\n <li>The company reported $263 million in adjusted selling, general, and administrative expense, a 14.7% decrease Y/Y.</li>\n <li>Adjusted EBITDA of $520 million fell 24.6% Y/Y.</li>\n <li>Adjusted EPS of $0.54 beat the consensus of $0.52.</li>\n <li>Cash and equivalents totaled $79.2 billion as of May 30, 2021.</li>\n <li><b>Outlook</b>: Conagra Brands<b> </b>has cut its FY22 Adjusted EPS guidance to ~$2.50 from the prior outlook of $2.63-$2.73, versus the consensus of $2.63.</li>\n <li>Organic net sales growth outlook is now expected to be flat, versus the prior growth expectation of 1% to 2%.</li>\n <li>Adjusted operating margin is expected to be approximately 16%, versus prior outlook of 18% to 19%.</li>\n <li>\"As the fourth quarter unfolded, input cost inflation accelerated and we now expect fiscal 2022 input cost inflation to be materially higher than we anticipated at the end of fiscal Q3,” said CEO Sean Connolly.</li>\n <li><b>Price action:</b> CAG shares are trading lower by 4.91% at $34.76 in premarket on the last check Tuesday.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Conagra Shares Fall After Downbeat FY22 Outlook</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nConagra Shares Fall After Downbeat FY22 Outlook\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-07-13 23:00</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>Consumer packaged goods company <b>Conagra Brands Inc </b>(NYSE:CAG) reported fourth quarter FY21 sales of $2.73 billion, a 16.68% fall year-on-year, beating the consensus of $2.71 billion.</li>\n <li>Grocery & Snacks segment sales fell 26.4% Y/Y to $1.1 billion and Refrigerated & Frozen segment sales decreased 12.0% Y/Y to $1.2 billion.</li>\n <li>Adjusted gross profit fell 22.4% to $721 million.</li>\n <li>Adjusted gross margin decreased 194 basis points Y/Y to 26.3%.</li>\n <li>Adjusted operating margin decreased 311 basis points Y/Y to 14.0%.</li>\n <li>The company reported $263 million in adjusted selling, general, and administrative expense, a 14.7% decrease Y/Y.</li>\n <li>Adjusted EBITDA of $520 million fell 24.6% Y/Y.</li>\n <li>Adjusted EPS of $0.54 beat the consensus of $0.52.</li>\n <li>Cash and equivalents totaled $79.2 billion as of May 30, 2021.</li>\n <li><b>Outlook</b>: Conagra Brands<b> </b>has cut its FY22 Adjusted EPS guidance to ~$2.50 from the prior outlook of $2.63-$2.73, versus the consensus of $2.63.</li>\n <li>Organic net sales growth outlook is now expected to be flat, versus the prior growth expectation of 1% to 2%.</li>\n <li>Adjusted operating margin is expected to be approximately 16%, versus prior outlook of 18% to 19%.</li>\n <li>\"As the fourth quarter unfolded, input cost inflation accelerated and we now expect fiscal 2022 input cost inflation to be materially higher than we anticipated at the end of fiscal Q3,” said CEO Sean Connolly.</li>\n <li><b>Price action:</b> CAG shares are trading lower by 4.91% at $34.76 in premarket on the last check Tuesday.</li>\n</ul>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CAG":"康尼格拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151699115","content_text":"Consumer packaged goods company Conagra Brands Inc (NYSE:CAG) reported fourth quarter FY21 sales of $2.73 billion, a 16.68% fall year-on-year, beating the consensus of $2.71 billion.\nGrocery & Snacks segment sales fell 26.4% Y/Y to $1.1 billion and Refrigerated & Frozen segment sales decreased 12.0% Y/Y to $1.2 billion.\nAdjusted gross profit fell 22.4% to $721 million.\nAdjusted gross margin decreased 194 basis points Y/Y to 26.3%.\nAdjusted operating margin decreased 311 basis points Y/Y to 14.0%.\nThe company reported $263 million in adjusted selling, general, and administrative expense, a 14.7% decrease Y/Y.\nAdjusted EBITDA of $520 million fell 24.6% Y/Y.\nAdjusted EPS of $0.54 beat the consensus of $0.52.\nCash and equivalents totaled $79.2 billion as of May 30, 2021.\nOutlook: Conagra Brands has cut its FY22 Adjusted EPS guidance to ~$2.50 from the prior outlook of $2.63-$2.73, versus the consensus of $2.63.\nOrganic net sales growth outlook is now expected to be flat, versus the prior growth expectation of 1% to 2%.\nAdjusted operating margin is expected to be approximately 16%, versus prior outlook of 18% to 19%.\n\"As the fourth quarter unfolded, input cost inflation accelerated and we now expect fiscal 2022 input cost inflation to be materially higher than we anticipated at the end of fiscal Q3,” said CEO Sean Connolly.\nPrice action: CAG shares are trading lower by 4.91% at $34.76 in premarket on the last check Tuesday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":270,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/145195128"}
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