Conagra (CAG) Reports Earnings Tomorrow: What To Expect

Packaged foods company Conagra Brands (NYSE:CAG) will be reporting results tomorrow before market hours. Here’s what to look for.

Conagra met analysts’ revenue expectations last quarter, reporting revenues of $2.91 billion, down 2.3% year on year. It was a slower quarter for the company, with a miss of analysts’ organic revenue growth estimates and underwhelming earnings guidance for the full year.

Is Conagra a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Conagra’s revenue to decline 2.1% year on year to $2.84 billion, a deceleration from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.60 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Conagra has missed Wall Street’s revenue estimates four times over the last two years.

Looking at Conagra’s peers in the consumer staples segment, only General Mills has reported results so far. It met analysts’ revenue estimates, posting year-on-year sales declines of 1.2%. The stock traded up 0.5% on the results.

Read our full analysis of General Mills’s earnings results here.

Investors in the consumer staples segment have had steady hands going into earnings, with share prices up 1% on average over the last month. Conagra is up 1.8% during the same time and is heading into earnings with an average analyst price target of $31.32 (compared to the current share price of $32.48).

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