Conagra Manufacturers, Inc. (NYSE: CAG), a number one supplier of client packaged items, on Thursday reported decrease gross sales and adjusted revenue for the third quarter of 2024.
Web gross sales decreased 1.7% year-over-year to $3.03 billion within the February quarter. Natural web gross sales dropped 2.0%, damage by the unfavorable affect of unfavorable worth/combine and a decline in volumes.
Because of this, web earnings, adjusted for particular objects, decreased to $0.69 per share in the course of the three months from $0.76 per share within the year-ago quarter. Unadjusted revenue declined to $308.6 million or $0.64 per share in Q3 from $341.7 million or $0.71 per share in the identical interval of 2023.
Sean Connolly, CEO of Conagra Manufacturers, stated, “Our Q3 results demonstrate steady progress stemming from strong execution. Volume trends in our domestic retail business continued to improve as targeted investments, particularly in frozen, generated strong lifts and unit share gains. Outstanding progress on our cost savings initiatives allowed us to support strategic investments in our brands while sustaining margin recovery.”
