WASHINGTON (dpa-AFX) - Conagra Brands Inc. (CAG) cut its outlook for fiscal year 2025, reflecting temporary service constraints and the impact of foreign exchange. However, the company has maintained its long-term targets.
The company experienced customer service interruptions during the third quarter due to supply constraints on two product platforms: frozen meals containing chicken and frozen vegetables. Additionally, foreign exchange rates are now expected to further impact adjusted earnings per share.
As a result of the challenges, Conagra Brands updated its financial 2025 outlook. The company now expects annual adjusted earnings per share to be about $2.35 compared to the prior estimation of $2.45 to $2.50. Analysts expect the company to report earnings of $2.46 per share for fiscal year 2025. Analysts' estimates typically exclude special items.
The company projects annual organic net sales growth from the prior year to be down 2% compared to prior estimation of near the midpoint of a decline of 1.5% to flat.
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