Conagra Brands (CAG) Research | Aerarium Research

Forward Estimates

EPS Estimates

Current Qtr

$0.46

$0.44$0.48

vs $0.56-18.4%

16 analysts

Next Qtr

$0.38

$0.34$0.40

vs $0.39-2.9%

12 analysts

Current Yr

$1.70

$1.68$1.71

vs $2.30-26.2%

18 analysts

Next Yr

$1.62

$1.41$1.81

vs $1.70-4.4%

18 analysts

Revenue Estimates

Current Qtr

$2.89B

$2.82B$2.94B

vs $2.78B+4.0%

12 analysts

Next Qtr

$2.64B

$2.62B$2.65B

vs $2.63B+0.1%

9 analysts

Current Yr

$11.28B

$11.09B$11.34B

vs $11.61B-2.9%

17 analysts

Next Yr

$11.12B

$11.05B$11.19B

vs $11.28B-1.4%

17 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for CAG on EDGAR.

CAG filing events and research context
Filed	Item	Context
Jul 10, 2025	business	Conagra Brands is a leading North American consumer packaged goods company operating through four reporting segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. Its diverse portfolio includes prominent brands such as Slim Jim, Birds Eye, Duncan Hines, Healthy Choice, and Marie Callender’s. The company also maintains a significant equity investment in Ardent Mills and utilizes strategic licensing agreements for brands including Wendy’s, P.F. Chang’s, and Bertolli. A primary financial concentration risk is the company's reliance on Walmart, which accounted for approximately 29% of consolidated net sales in fiscal 2025. Conagra is highly exposed to commodity price volatility driven by weather, trade barriers, currency fluctuations, and supply chain disruptions, such as avian flu. To mitigate these risks, the company employs pricing initiatives, productivity gains, and derivative hedging. The business faces intense competition from both established branded peers and private-label alternatives. Additionally, operations are subject to stringent oversight by the FDA and USDA. Demand is characterized by seasonality, with increased frozen food sales in winter and peak pie sales during the November and December holiday period.
Jul 10, 2025	mda	Conagra Brands reported a 3.6% decrease in fiscal 2025 net sales to $11.6 billion, driven by organic declines in the Grocery & Snacks, Refrigerated & Frozen, and Foodservice segments. Diluted earnings per share rose to $2.40, primarily bolstered by a $253.5 million income tax benefit from the release of valuation allowances. Gross profits declined due to input cost inflation, unfavorable operating leverage, and operational headwinds, including manufacturing disruptions in the Hebrew National business and supply constraints for frozen chicken and vegetable products. The Foodservice segment experienced an 8.1% organic volume decline attributed to soft restaurant traffic. Looking toward fiscal 2026, the company anticipates that inflation and fluctuating tariffs will negatively impact costs of goods sold and consumer volumes. Liquidity remains stable, though the company must address $1.0 billion in 4.6% senior notes maturing in November 2025. Recent capital activities include the sale of the Chef Boyardee business to repay term loans and a projected fiscal 2026 capital expenditure of $450 million. Foreign exchange volatility, specifically the devaluation of the Mexican Peso, continues to pressure international results. The company also recognized $72.1 million in impairments of brand intangible assets during the period.
Jul 10, 2025	risk_factors	CAG is exposed to significant macroeconomic volatility, including inflation and geopolitical conflicts in the Middle East and between China and Taiwan, which disrupt supply chains and increase costs for key commodities such as wheat, corn, vegetable oils, and proteins. While the company employs derivative hedging for these inputs, such practices introduce volatility into gross margins and net earnings. A critical concentration risk exists with Walmart, which represents approximately 29% of consolidated net sales. Competitive pressures from private label brands and evolving consumer preferences—specifically health-wellness trends and the rise of weight loss medications—threaten sales volumes. Financially, CAG carries approximately $8.07 billion in total debt, including $7.02 billion in senior notes, which restricts cash flow for investments and shareholder returns. Operational risks include reliance on third-party contract manufacturers and vulnerability to cybersecurity breaches, as evidenced by a $4.4 million charge in fiscal 2023. Additionally, climate change poses a threat to the availability and pricing of agricultural inputs like tomatoes and vegetables. The company also manages significant intangible assets, including $10.5 billion in goodwill and critical licensing agreements for brands such as Wendy’s, P.F. Chang’s, and Bertolli.

Filed

Item

Context

Jul 10, 2025

business

Conagra Brands is a leading North American consumer packaged goods company operating through four reporting segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. Its diverse portfolio includes prominent brands such as Slim Jim, Birds Eye, Duncan Hines, Healthy Choice, and Marie Callender’s. The company also maintains a significant equity investment in Ardent Mills and utilizes strategic licensing agreements for brands including Wendy’s, P.F. Chang’s, and Bertolli. A primary financial concentration risk is the company's reliance on Walmart, which accounted for approximately 29% of consolidated net sales in fiscal 2025. Conagra is highly exposed to commodity price volatility driven by weather, trade barriers, currency fluctuations, and supply chain disruptions, such as avian flu. To mitigate these risks, the company employs pricing initiatives, productivity gains, and derivative hedging. The business faces intense competition from both established branded peers and private-label alternatives. Additionally, operations are subject to stringent oversight by the FDA and USDA. Demand is characterized by seasonality, with increased frozen food sales in winter and peak pie sales during the November and December holiday period.

Jul 10, 2025

mda

Conagra Brands reported a 3.6% decrease in fiscal 2025 net sales to $11.6 billion, driven by organic declines in the Grocery & Snacks, Refrigerated & Frozen, and Foodservice segments. Diluted earnings per share rose to $2.40, primarily bolstered by a $253.5 million income tax benefit from the release of valuation allowances. Gross profits declined due to input cost inflation, unfavorable operating leverage, and operational headwinds, including manufacturing disruptions in the Hebrew National business and supply constraints for frozen chicken and vegetable products. The Foodservice segment experienced an 8.1% organic volume decline attributed to soft restaurant traffic. Looking toward fiscal 2026, the company anticipates that inflation and fluctuating tariffs will negatively impact costs of goods sold and consumer volumes. Liquidity remains stable, though the company must address $1.0 billion in 4.6% senior notes maturing in November 2025. Recent capital activities include the sale of the Chef Boyardee business to repay term loans and a projected fiscal 2026 capital expenditure of $450 million. Foreign exchange volatility, specifically the devaluation of the Mexican Peso, continues to pressure international results. The company also recognized $72.1 million in impairments of brand intangible assets during the period.

Jul 10, 2025

risk_factors

CAG is exposed to significant macroeconomic volatility, including inflation and geopolitical conflicts in the Middle East and between China and Taiwan, which disrupt supply chains and increase costs for key commodities such as wheat, corn, vegetable oils, and proteins. While the company employs derivative hedging for these inputs, such practices introduce volatility into gross margins and net earnings. A critical concentration risk exists with Walmart, which represents approximately 29% of consolidated net sales. Competitive pressures from private label brands and evolving consumer preferences—specifically health-wellness trends and the rise of weight loss medications—threaten sales volumes. Financially, CAG carries approximately $8.07 billion in total debt, including $7.02 billion in senior notes, which restricts cash flow for investments and shareholder returns. Operational risks include reliance on third-party contract manufacturers and vulnerability to cybersecurity breaches, as evidenced by a $4.4 million charge in fiscal 2023. Additionally, climate change poses a threat to the availability and pricing of agricultural inputs like tomatoes and vegetables. The company also manages significant intangible assets, including $10.5 billion in goodwill and critical licensing agreements for brands such as Wendy’s, P.F. Chang’s, and Bertolli.

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CAG filing events and research context

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