Conagra Brands, Inc. (CAG) Earnings Call Transcripts

Conagra Brands, Inc.'s Latest Earnings Call - Q3 FY2026

In the third quarter of fiscal 2026, Conagra Brands, Inc. reported a revenue of $3.1 billion, which was inline with expectations, and an EPS of $0.55, beating estimates by $0.05. Management highlighted a strong momentum in volume growth, particularly in frozen and snacks, while maintaining a focus on cash flow optimization amidst inflationary pressures. Guidance for Q4 indicates positive organic net sales growth, with operating margins expected to improve sequentially, driven by lower A&P costs and productivity gains.

Reported metrics

Guidance from management

Management maintained guidance for positive organic net sales growth in Q4 and indicated that operating margins are expected to improve sequentially, driven by productivity gains and lower A&P costs.

What management said

Good morning, everyone, and thank you for joining us. Once again, I'm joined this morning by Sean Connolly, our CEO; and Dave Marberger, our CFO. We may be making some forward-looking statements and discussing non-GAAP financial measures during this Q&A session. Please see our earnings release, prepared remarks, presentation materials and filings with the SEC in the Investor Relations section of our website for descr...

Well, fertilizer, it would be more of an F '28 event than F '27. But I would say conversations are very productive. I think everybody is in the same boat, Pete. I mean it's kind of like the news of the hour around here that we're responding to. And so it's just super dynamic. We got to stay on top of it. It changes day-to-day, and you got to be agile. That's why I started my comments today to Andrew saying we will be...

What analysts pressed on

Analysts expressed concerns regarding the potential impact of inflation on pricing power and the ability to maintain margins in a challenging economic environment. There were also questions about the performance of Ardent Mills amidst fluctuating wheat prices and the implications for future earnings.

Main topics on the call

• Volume Growth Strategy — Conagra has successfully prioritized volume growth in its frozen and snacks categories, with Sean Connolly stating, "our total portfolio growing again this quarter." This strategy has led to improved volume trajectories,...
• Inflation Management — Management indicated a flexible approach to inflation, with Connolly noting, "we are a company that is intensely focused on maximizing cash flow." They plan to remain agile, adjusting pricing strategies based on inflatio...
• Operating Margin Improvement — Conagra expects operating margins to improve in Q4, with David Marberger stating, "we expect an inflection from Q3 to Q4" due to lower A&P costs and productivity enhancements. This positions the company favorably for the...
• Free Cash Flow Focus — The company reported a free cash flow conversion rate of 105%, with Marberger emphasizing, "we're very focused on it in areas like cash tax efficiency." This strong cash flow generation supports ongoing dividend payments...

Read the full Conagra Brands, Inc. transcript (Q3 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 47 Conagra Brands, Inc. earnings call transcripts on record, spanning February 18, 2020 to July 15, 2026. Based on this history, Conagra Brands, Inc. reports quarterly. The most recent call on file is dated July 15, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

CAG

Exchange

NYSE

Country

US

Sector

Consumer Staples

Industry

Food Products

Calls on record

47

First call

February 18, 2020

Most recent

July 15, 2026

Reporting cadence

quarterly