Welcome to our dedicated page for Conagra Brands news (Ticker: CAG), a resource for investors and traders seeking the latest updates and insights on Conagra Brands stock.
Conagra Brands, Inc. reports news on a North American branded packaged food business with products across frozen meals, vegetables, snacks, shelf-stable staples, refrigerated foods and foodservice channels. Its portfolio includes brands such as Birds Eye, Duncan Hines, Healthy Choice, Marie Callender's, Reddi-wip, Slim Jim, Banquet, Hunt's, Vlasic, Orville Redenbacher's and Wish-Bone.
Recurring company updates cover quarterly earnings, organic net sales, margins, guidance, dividends, product innovation and portfolio activity. Governance-related news also includes board composition, executive leadership matters and corporate policies affecting the public company.
Conagra Brands (CAG) reported strong fourth quarter results for fiscal year 2020, with net sales up by 25.8% to $3.3 billion and organic net sales increasing 21.5%. Diluted EPS rose 57.7% to $0.41, while adjusted EPS more than doubled to $0.75. Gross profit also saw a significant increase of 30.3% to $923 million.
The company generated $1.47 billion in free cash flow, exceeding guidance, and decreased total debt by $271 million. For Q1 FY2021, the guidance indicates organic net sales growth of 10% to 13%.
On June 29, 2020, Conagra Brands announced a collaboration between its hot cocoa brand Swiss Miss and Lucky Charms, introducing a new Magically Delicious Hot Cocoa. This product features iconic marshmallows like hearts and rainbows, aimed at appealing to families. Each serving contains 180 calories and is packaged in six pre-portioned servings, retailing for $2.99. The partnership marks Swiss Miss's first co-branded innovation, leveraging Lucky Charms’ popularity while supporting local dairy farms in Wisconsin.
On June 25, 2020, Conagra Brands (NYSE: CAG) announced the winners of its annual Sustainable Development Awards, showcasing a record 128 employee-led sustainability initiatives. These projects collectively decreased the carbon footprint by 15,700 metric tons, conserved 120 million gallons of water, and reduced waste by 5,750 tons. The initiatives generated nearly $30 million in enterprise savings, emphasizing the integration of sustainability into business practices. Award-winning projects include innovations in water conservation, waste reduction, and energy efficiency across various facilities.
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