Conagra Brands Inc (NYSE: CAG) reported mixed financial results for its second quarter and cut 2024 guidance.
The Chicago-based reported a second-quarter FY24 sales decline of 3.2% year-on-year to $3.21 billion, missing the analyst consensus estimate of $3.24 billion. Adjusted EPS of 71 cents beat the consensus of 68 cents, according to data from Benzinga Pro.
Conagra lowered its FY24 organic net sales outlook from a growth of 1% to a decline of 1% - 2%. The company also cut its FY24 adjusted EPS outlook from $2.70 - $2.75 to $2.60 - $2.65 versus the estimate of $2.67.
With the recent buzz around Conagra Brands, some investors may be eyeing potential gains from the company’s dividends too. As of now, Conagra Brands offers an annual dividend yield of 4.87%, ...