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ConAgra Falls Short On Q4 Revenue Amid Unfavorable Price Mix
ConAgra Brands, Inc. (NYSE:CAG) shares are trading lower on Thursday after the fourth-quarter results were reported.
The company reported adjusted earnings per share of 61 cents, beating the analyst consensus estimate of 57 cents. Quarterly revenues of $2.905 billion missed the street view of $2.930 billion.
The company’s reported net sales decreased by 2.3% and organic net sales decreased by 2.4%.
ConAgra said that the decrease was driven by a 0.6% negative impact from price/mix, largely due to the company’s strategic investments in the quarter, and a 1.8% decrease in volume, primarily due to continued lower consumption trends.
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