Food giant Conagra Brands fell sharply for a second straight day on September 30, dropping as much as 6% intraday to $13.27 and closing down 4.88% at $13.44. Weak sales growth in its fiscal first quarter, covering June through August 2026, reported before the opening bell, appeared to weigh on the shares. In the quarter, revenue fell 1.4% year over year to $2.596 billion, net income rose 6.0% to $174.3 million, and adjusted diluted earnings per share excluding one-time items rose 5.1% to $0.41, beating market expectations. Sales in the Grocery & Snacks segment fell 2.6% from a year earlier on lower volumes, while the Refrigerated & Frozen segment slipped 2.1% as both volumes and prices declined. Chief Executive Officer John Brase said the company is working on restoring margins, expanding investment, reducing complexity, and optimizing capital allocation, and that these efforts are producing concrete progress, though challenges remain. Conagra left its full-year guidance unchanged, forecasting organic net sales down 3% to down 1% from the prior year and adjusted earnings per share of $1.40 to $1.50.
Conagra Brands, Inc.Q1 revenue fell 1.4% with Grocery & Snacks volumes down 2.6% and Refrigerated & Frozen volumes and prices both declining.
