Conagra Brands reported first-quarter fiscal 2027 adjusted earnings per share of 41 cents, beating the Zacks Consensus Estimate of 31 cents, while net sales fell 1.4% to $2,595.9 million and slightly exceeded the consensus estimate of $2,595 million. Adjusted gross profit decreased 3.9% to $618.6 million and adjusted gross margin contracted 62 basis points to 23.8%, as higher productivity and about $4 million of tariff refunds were more than offset by cost-of-goods-sold inflation, lower organic sales and unfavorable operating leverage. Adjusted SG&A declined 3.7% to $320.7 million, including a $10 million benefit tied to fiscal 2026 incentive compensation, while advertising and promotional spending rose 15.1% to $60.9 million and adjusted EBITDA increased 2.4% to $451.4 million. By segment, Grocery & Snacks net sales declined 2.6% to $1,051.1 million, Refrigerated & Frozen net sales fell 2.1% to $1,053.8 million, International sales increased 2.7% to $218.1 million and Foodservice net sales grew 3.2% to $272.9 million. Management reaffirmed its fiscal 2027 outlook for an organic net sales decline of 1-3%, an adjusted operating margin of 10-10.5% and adjusted earnings of $1.40-$1.50 per share.
Conagra Brands, Inc.Conagra's Q1 adjusted EPS of 41 cents beat the 31-cent consensus, with adjusted EBITDA up 2.4%.
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