Conagra Manufacturers, Inc. (NYSE: CAG), a number one supplier of client packaged items, on Thursday, reported a modest decline in adjusted earnings for the fourth quarter of 2024, reflecting a lower in gross sales.
Web gross sales dropped 2.3% year-over-year to $2.91 billion within the Might quarter. The highest line additionally fell wanting Wall Avenue’s expectations. Natural internet gross sales declined 2.4%, damage by the destructive impression of unfavorable value/combine and a decline in volumes.
Because of this, internet revenue, adjusted for particular gadgets, edged right down to $0.61 per share in This fall from $0.62 per share within the year-ago quarter. On an unadjusted foundation, the corporate reported a internet lack of $567.3 million or $1.18 per share, in comparison with a revenue of $37.5 million or $0.08 per share in the identical interval of 2023.
Sean Connolly, chief government officer of Conagra Manufacturers, mentioned, “Our investments in our manufacturers continued to yield outcomes, and once more drove quantity enchancment in our Home Retail enterprise. Progress was most notable in our key Frozen and Snacks domains, the place we additionally noticed market share good points.”
