CONAGRA BRANDS Reports 38.6% Increase in Revenue and 8.3% Increase in Net Income for Q2 FY2023
January 12, 2023
Earnings report
Conagra Brands Stock Intrinsic Value – CONAGRA BRANDS ($NYSE:CAG) is a leading global food company that operates in the food industry. The company’s portfolio includes iconic brands such as Birds Eye®, Banquet®, Slim Jim®, and Vlasic®. On January 5, 2023, CONAGRA BRANDS reported their earnings results for the second quarter of FY2023, running from September 1, 2022 to November 30, 2022. The company reported total revenue of USD 381.9 million, which represented a 38.6% increase compared to the same quarter the previous year. This growth was primarily driven by higher sales across the company’s core brands.
Net income was USD 3312.9 million, up 8.3% compared to the same quarter the previous year. These strong results highlighted the company’s continued success in executing its strategy and delivering on its financial commitments. Overall, CONAGRA BRANDS reported strong financial performance in the second quarter of FY2023, with total revenue and net income increasing year over year. These results demonstrate the company’s ability to execute its strategies and deliver on its financial commitments, positioning it for continued success in the near future.
Price History
On Thursday, CONAGRA BRANDS reported a 38.6% increase in revenue and 8.3% increase in net income for the second quarter of FY2023. Following the announcement, the stock opened at $39.7 and closed at $40.0, up by 3.4% from its previous closing price of 38.6. The company’s strong performance was attributed to its diversified product portfolio, which includes brands such as Chef Boyardee, Hunt’s, Healthy Choice and PAM cooking spray. CONAGRA BRANDS also attributed its success to investments in innovation and cost savings initiatives such as streamlining operations, reducing complexity and driving efficiency. The company’s strong financial performance is expected to continue in the upcoming quarters.
CONAGRA BRANDS is investing in expanding its product portfolio and entering new markets to capitalize on the growing demand for its products. The company is also focusing on expansion strategies such as new product launches, acquisition of businesses and leveraging digital technologies to enhance customer experience. Overall, CONAGRA BRANDS has reported a healthy performance for the second quarter of FY2023. The company’s robust financial performance and strategic investments in product innovation and expansion are expected to drive its future growth. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Conagra Brands. More…
| Total Revenues | Net Income | Net Margin |
| 12.04k | 681.7 | 5.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Conagra Brands. More…
| Operations | Investing | Financing |
| 1.21k | -372.6 | -871.7 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Conagra Brands. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 22.41k | 13.68k | 18.18 |
Key Ratios Snapshot
Some of the financial key ratios for Conagra Brands are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.6% | -8.2% | 9.6% |
| FCF Margin | ROE | ROA |
| 6.8% | 8.4% | 3.2% |
VI Analysis – Conagra Brands Stock Intrinsic Value
CONAGRA BRANDS is an attractive investment opportunity due to its sound fundamentals. Investors can make an informed decision with the help of VI app, which simplifies the analysis of the company’s performance. According to VI Line, the intrinsic value of CONAGRA BRANDS share is around $42.7. Currently, CONAGRA BRANDS stock is trading at a fair price of $40.0, indicating that the share is undervalued by 6%. This presents an opportunity for investors to buy the stock at a discounted price. Moreover, the company has a strong balance sheet and is highly liquid, making it a safe bet for long-term investments. Additionally, the company has a strong presence in the food industry with its extensive product portfolio, which gives it an edge over its competitors. Furthermore, the company is committed to expanding its network and increasing its market share in the industry, which can result in higher revenues and profits in the future. With its strong fundamentals, competitive advantages and attractive valuation, investors should consider adding this stock to their portfolios. More…
VI Peers
The company’s products are sold in more than 100 countries and are marketed under well-known brands such as Healthy Choice, Hunt’s, Slim Jim, Snack Pack, and Vlasic. Conagra’s competitors include JM Smucker Co, General Mills Inc, and McCormick & Co Inc.
– JM Smucker Co ($NYSE:SJM)
The J. M. Smucker Company has a market capitalization of $15.57 billion as of 2022 and a return on equity of 7.19%. The company manufactures and markets branded food and beverage products, including coffee, peanut butter, shortening and oils, frozen snacks, fruits and vegetable snacks, and health and wellness products.
– General Mills Inc ($NYSE:GIS)
General Mills Inc is a food company that manufactures and sells branded consumer foods worldwide. The company has a market cap of 48.09B as of 2022 and a Return on Equity of 20.18%. The company’s products include cereals, snacks, yogurt, baking mixes, and more.
– McCormick & Co Inc ($NYSE:MKC)
McCormick & Co Inc is a food company that manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavoring products. The company has a market cap of 22.46B as of 2022 and a return on equity of 13.21%. The company’s products are sold in over 180 countries and territories.
Summary
On January 5, 2023, CONAGRA BRANDS reported their second quarter earnings for FY2023. The company reported total revenue of USD 381.9 million, an increase of 38.6% year over year, and net income of USD 3312.9 million, up 8.3% from the same period the previous year. Investors responded positively to the news, pushing the stock price up. For investors considering investing in CONAGRA BRANDS, the company’s strong financial performance and healthy growth indicate a sound investment opportunity. With increasing revenue and net income, the company has demonstrated its financial stability and ability to produce returns in the long term.
Additionally, the 38.6% year-over-year growth in revenue is a promising sign that the company’s strategies are successful and will continue to produce strong results in the future. Given the company’s impressive financial performance, investors should consider investing in CONAGRA BRANDS. The company’s proven track record of success and potential for future growth make it an attractive opportunity for those looking for a sound investment.
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