Investing.com — ConAgra Manufacturers, Inc. (NYSE: CAG) reported second-quarter fiscal 2025 outcomes that beat analysts’ expectations for earnings and income, however lowered its earnings forecast for the entire 12 months.
The packaged meals firm reported adjusted earnings per share of $0.70, beating analysts’ 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% year-over-year, whereas natural internet gross sales elevated 0.3%.
ConAgra up to date its outlook for fiscal 2025, now projecting adjusted earnings per share of between $2.45 and $2.50, beneath analysts’ consensus of $2.58 and beneath its earlier goal of between $2.60 and $2.65. The corporate expects natural internet gross sales close to the midpoint of a variety between -1.5% and 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 atmosphere as our investments paid off, producing robust share efficiency. stroll. Though momentum stays robust, we anticipate the corporate to be impacted by two headwinds within the second half, together with higher-than-expected inflation and unfavorable trade charges, main us to replace our outlook for the second half. fiscal 12 months 2025.”
The corporate’s grocery and snacks section noticed internet gross sales improve 2.0% to $1.3 billion, whereas the refrigerated and frozen merchandise section remained flat at $1.3 billion. of {dollars}. The Worldwide section noticed a 12.9% decline in internet gross sales to $243 million.
ConAgra’s inventory is down about 0.3% premarket.
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