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Conagra Posts Q3 Results

 04/05/2020

In a press release dated March 31st Conagra Brands (CAG) posted results for the third quarter of fiscal 2020 ending February 23rd.  For the quarter, the company generated a net income of $204.4 million on sales of $2.055 billion with an EPS of $0.47.  The corresponding figures for the third quarter of fiscal 2019 were net earnings of $242.0 on sales of $2.71 billion with an EPS of $0.50.

 

For the quarter the respective segments generated the following sales:

  • Refrigerated foods $1.08 billion
  • Groceries and snacks $1.02
  • International $0.22 billion
  • Food services $0.23 billion

 

The company has a market capitalization of $14.5 billion and carries $11.0 billion in long-term debt and non-current liabilities.  On a trailing 12-month basis, the company achieved an operating profit of 16.5 percent and a profit margin of 7.4 percent.  Return on assets was 4.8 percent and on equity 10.0 percent.

 

CAG has traded over the past 52 weeks from $22.83 to $35.59 with a 50-day moving average of $28.26.

 

Obviously CAG will benefit from a trend to home cooking to be reflected in Q4 results.