Conagra Brands, Inc. (CAG) reported that its first-quarter adjusted net income attributable to company decreased 30.2% year-on-year driven primarily by the decrease in gross profit. Gross margin decreased 486 basis points to 25.4% in the quarter, and adjusted gross margin decreased 530 basis points to 25.4%.
Organic net sales were down 0.4%, for the quarter. Looking forward, the company reaffirmed fiscal 2022 guidance for adjusted earnings per share, and adjusted operating margin. Organic net sales growth is now expected to be approximately 1%, revised from prior guidance of approximately flat.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.