Why Conagra Brands Stock Jumped Today
Shares of Conagra Brands (NYSE: CAG) climbed 5.4% on Thursday after the consumer packaged goods company announced stronger-than-expected quarterly results before the opening bell.
In its fiscal 2024 third quarter, which ended Feb. 25, Conagra Brands' net sales declined 1.7% year over year to $3.03 billion, including a 0.3% tailwind from currency exchange rate moves and a 2% organic sales decline. That translated to a 10.1% decrease in adjusted (non-GAAP) earnings to $329 million, or $0.69 per share.
Analysts, on average, were only expecting adjusted earnings of $0.65 per share on roughly the same revenue.
Source Fool.com
