ConAgra Foods (NYSE:CAG) released its first-quarter results, and the numbers were a mixed bag. While the earnings per share (EPS) stood at $0.66, surpassing the anticipated $0.60 according to analysts, the company’s quarterly revenue was $2.9 billion, slightly below the expected $2.96 billion.
Grocery & Snacks net sales reached $1.20 billion, showing a modest 1.2% increase compared to the same period last year but falling just short of the estimated $1.21 billion. Meanwhile, Refrigerated & Frozen net sales came in at $1.15 billion, marking a 4.6% decline year-on-year and also missing the estimated $1.22 billion.
Regarding future prospects, ConAgra Foods projects that its full-year 2024 EPS will range from $2.70 to $2.75, which is slightly above the Street estimate of $2.71.
