Conagra Manufacturers, Inc. (NYSE: CAG), a number one supplier of client packaged items, on Thursday, reported a modest decline in adjusted earnings for the fourth quarter of 2024, reflecting a lower in gross sales.
Web gross sales dropped 2.3% year-over-year to $2.91 billion within the Could quarter. The highest line additionally fell in need of Wall Road’s expectations. Natural web gross sales declined 2.4%, harm by the adverse affect of unfavorable price/combine and a decline in volumes.
In consequence, web revenue, adjusted for particular objects, edged down to $0.61 per share in This fall from $0.62 per share within the year-ago quarter. On an unadjusted foundation, the corporate reported a web lack of $567.3 million or $1.18 per share, in comparison with a revenue of $37.5 million or $0.08 per share in the identical interval of 2023.
Sean Connolly, chief govt officer of Conagra Manufacturers, mentioned, “Our investments in our brands continued to yield results, and again drove volume improvement in our Domestic Retail business. Progress was most notable in our key Frozen and Snacks domains, where we also saw market share gains.”