Conagra 2Q Sales Decline as Consumer Spending Remains Challenged

Dow Jones12-19

By Kelly Cloonan

Conagra logged lower sales in its latest quarter as consumers continued to pull back on spending on its products.

The food-and-snacks company on Friday posted a loss of $663.6 million, or $1.39 a share for the fiscal second quarter ended Nov. 23, compared with a profit of $284.5 million, or 59 cents a share, a year earlier. The loss was primarily a result of certain noncash goodwill and brand-impairment charges, the Chicago-based company said.

Adjusted earnings per share were 45 cents, ahead of estimates of 44 cents a share according to analysts polled by FactSet.

Sales declined 6.8% to $2.98 billion, in line with Wall Street's estimates.

The top line was hurt by a 3% decline in organic sales, which account for revenues generated from existing operations. The company attributed the decrease to flat prices and lower volumes.

Net sales in Conagra's grocery-and-snacks unit fell 8.5%, while sales in its refrigerated-and-frozen business fell 6.5%.

The company continued to face a challenging consumer environment in the quarter, Chief Executive Sean Connolly said.

For the fiscal year, Conagra continues to expect organic sales in a range of down 1% to up 1% and adjusted earnings per share of $1.70 to $1.85.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

December 19, 2025 07:52 ET (12:52 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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The loss was primarily a result of certain noncash goodwill and brand-impairment charges, the Chicago-based company said. \n\n\n  Adjusted earnings per share were 45 cents, ahead of estimates of 44 cents a share according to analysts polled by FactSet. \n\n\n  Sales declined 6.8% to $2.98 billion, in line with Wall Street's estimates. \n\n\n  The top line was hurt by a 3% decline in organic sales, which account for revenues generated from existing operations. 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