News Formal

Conagra's stock tumbles after earnings miss, downbeat outlook

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 1 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 4%
  • Publisher: 97%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Shares of Conagra Brands Inc. |phrase background-info='BRIEFING-BOOK' name='cag' significance='MWLEGACY' type='COMPANY' vrtysux='COMPANY|cag'||/phrase| tumbled 8.8% in premarket trade Thursday, on track to open at the lowest level since November, after the branded food company missed fiscal first-quarter earnings and sales expectations, as the company cited a "challenging inflationary environment," and provided a downbeat profit outlook. The company, which brands include Hunt's, Healthy Choice and Orville Redenbacher's, reported net income for the quarter to Aug. 26 of $178.2 million, or 45 cents a share, up from $152.5 million, or 36 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to 47 cents, below the FactSet consensus of 49 cents. Sales rose 1.7% to $1.83 billion, missing the FactSet consensus of $1.85 billion. Grocery and snacks sales rose 3.4% to $771 million, below the FactSet consensus of $782 million, and refrigerated and frozen sales increased 3.2% to $635 million, but missed expectations of $637 million. For the fiscal second quarter, Conagra expects adjusted EPS of 57 cents to 60 cents, below the FactSet consensus of 64 cents. The stock has edged up 1.7% over the past three months while the S&P 500 |phrase background-info='BRIEFING-BOOK' name='spx' significance='MWLEGACY' type='COMPANY' vrtysux='COMPANY|spx'||/phrase| has gained 7.6%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Come on Sean!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Express's stock plunges as downbeat outlook trumps earnings, sales beat
Source: MarketWatch - 🏆 3. / 97 Read more »

Apple beats on earnings, but stock falls after December outlook missesApple Inc. reported better-than-expected financial results for its fiscal fourth quarter, but shares sank in after-hours trading Thursday after the company delivered a disappointing forecast for the holiday period. Markets will burn !
Source: MarketWatch - 🏆 3. / 97 Read more »

Nvidia stock drops 15% as earnings, outlook miss
Source: MarketWatch - 🏆 3. / 97 Read more »

Bank stocks tumble into bear market territory as anxious stock market awaits their earnings reportsIt is traditionally a weak quarter for banks, but rising rates and worries over trade tariffs are adding pressure to expectations.
Source: CNBC - 🏆 12. / 72 Read more »

Intel's stock rallies more than 5% as earnings, outlook top Wall Street targets
Source: MarketWatch - 🏆 3. / 97 Read more »

Apple’s stock flirts with bear market after Guggenheim cuts rating, earnings outlookApple shares fall toward a fifth-straight loss after Guggenheim Securities analyst Robert Cihra cut his rating and earnings estimate, saying rising selling prices is “no longer enough” to offset weakening iPhone units. time to move into crypto xrp Amazing, once-in-a-lifetime opportunity. $AAPL Everything listed will go into profit booking ., It's just normal
Source: MarketWatch - 🏆 3. / 97 Read more »

Skechers stock jumps on earnings beat, outlook
Source: MarketWatch - 🏆 3. / 97 Read more »

Stocks Drop on Earnings Outlooks, Worries About Global GrowthStocks sold off worldwide with technology shares plunging amid resurgent fears about the health of China’s economy, concerning outlooks from industrial giants and a slew of geopolitical concerns. In the U.S., the S&P 500 and the Dow Jones Industrial Average both fell more than 1%. Hogwash. Give it a day or two and suddenly headlines will be upbeat. Never believe any stated reasons to justify the direction of the markets. Traders get paid in up and down markets. They only care that trading activity continues. Time to buy!!! The rich Democrats are dumping. Buy! Buy! Buy! We can thank Trump for messing up the world markets with his nationalistic sense of trade and taxes.... markets thrive on stability and there’s nothing stable about Trump!
Source: WSJ - 🏆 98. / 63 Read more »

Intel stock rallies on raised outlook, earnings beat for server and PC salesIntel Corp.’s beleaguered shares rallied in the extended session Thursday after the chip giant raised its outlook for the year and soundly beat Wall Street estimates in its largest business segments.
Source: MarketWatch - 🏆 3. / 97 Read more »