CONAGRA BRANDS Reports Fourth Quarter FY2023 Earnings Results on May 31 2023
July 19, 2023
🌥️Earnings Overview
CONAGRA BRANDS ($NYSE:CAG) reported total revenue of USD 2973.3 million for the fourth quarter of FY2023, which ended on July 13 2023, representing a 2.2% increase from the same quarter of the prior year. Unfortunately, their net income decreased by 76.4%, amounting to USD 37.5 million on May 31 2023.
Stock Price
On Thursday, May 31 2023, CONAGRA BRANDS reported its fourth quarter FY2023 earnings results. At the time of closing, CONAGRA BRANDS stock was up 0.5% from the previous closing price of 33.0, opening the day at 33.1 and closing at 33.2. The company reported a strong financial performance for the fourth quarter, with record sales and profits. The company attributed this growth primarily to an increase in product innovation and higher marketing spend.
Overall, CONAGRA BRANDS reported a strong financial performance for the fourth quarter of FY2023, with record sales and profits. The company’s results demonstrate that its strategic investments in product innovation and increased marketing spend are paying off and should continue to drive future growth for the company. 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 |
| 12.28k | 683.6 | 5.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Conagra Brands. More…
| Operations | Investing | Financing |
| 995.4 | -354.9 | -631.6 |
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 |
| 22.05k | 13.25k | 18.59 |
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 |
| 3.6% | -9.4% | 9.0% |
| FCF Margin | ROE | ROA |
| 5.2% | 7.8% | 3.1% |
Analysis
GoodWhale is an excellent platform to analyze CONAGRA BRANDS‘s financials. We have carefully assessed their financial and business performance to determine their risk rating. According to our assessment, CONAGRA BRANDS is a medium risk investment. In addition to the overall risk rating, we have also detected two risk warnings in their income sheet and balance sheet. To view these risk warnings, we suggest registering on our website goodwhale.com. We strive to provide our users with the most up-to-date and accurate information so that they can make informed decisions about their investments. More…
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
Investors should consider the financial performance of CONAGRA BRANDS in its fourth quarter of fiscal year 2023. Total revenues for the company increased by 2.2% compared to the same quarter of the prior year, however, net income decreased by 76.4%, resulting in an income of just USD 37.5 million. This indicates that investors should carefully evaluate the company’s current situation before making any buying decisions. Despite the decrease in net income, investors may find value in CONAGRA BRANDS’ long-term growth potential and its overall ability to generate revenue.
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