Conagra Brands, Inc. (CAG) said, for fiscal 2025, the company now expects adjusted EPS in a range of $2.45 to $2.50, revised from prior guidance range of $2.60 to $2.65. Adjusted operating margin is projected at approximately 14.8%, lower from prior guidance range of 15.6% to 15.8%. Organic net sales are anticipated near the midpoint of a decline of 1.5% to flat. The company noted that two factors will pressure its second half: higher than expected inflation; and unfavorable FX.
Second quarter net income attributable to Conagra Brands was $284.5 million compared to $286.2 million, a year ago. Reported earnings per share was $0.59, a 1.7% decrease. Adjusted EPS was $0.70, a 1.4% decrease. Analysts on average had expected the company to earn $0.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. In the quarter, net sales decreased 0.4% to $3.2 billion. Organic net sales increased 0.3%, for the quarter. Analysts on average had estimated $3.15 billion in revenue.
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