Conagra Brands Q1 2025 10-Q Filed
Ticker: CAG · Form: 10-Q · Filed: Oct 2, 2024 · CIK: 23217
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
Related Tickers: CAG
TL;DR
Conagra Brands 10-Q filed - Q1 FY25 financials out.
AI Summary
Conagra Brands Inc. filed its 10-Q for the period ending August 25, 2024. The filing details financial performance and position, including elements like retained earnings and accumulated other comprehensive income as of August 25, 2024. The company's fiscal year ends on May 25th, and this report covers the first quarter of fiscal year 2025.
Why It Matters
This filing provides investors with an update on Conagra Brands' financial health and operational performance for the first quarter of their fiscal year 2025.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.
Key Numbers
- Q1 2025 — Fiscal Quarter (Reporting period for this 10-Q filing.)
- 0525 — Fiscal Year End (Conagra Brands' annual fiscal year closing date.)
Key Players & Entities
- CONAGRA BRANDS INC. (company) — Filer
- 20240825 (date) — Period of Report
- 20241002 (date) — Filing Date
- 312-549-5000 (phone_number) — Business Phone
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is August 25, 2024.
When is Conagra Brands' fiscal year end?
Conagra Brands' fiscal year ends on May 25th.
What is the company's filing number with the SEC?
The SEC file number for Conagra Brands is 001-07275.
What is the business address of Conagra Brands?
The business address is 222 W. Merchandise Mart Plaza, Suite 1300, Chicago, IL 60654.
What SIC code is associated with Conagra Brands?
The Standard Industrial Classification code is 2000, for Food & Kindred Products.
Filing Stats: 4,562 words · 18 min read · ~15 pages · Grade level 8.2 · Accepted 2024-10-02 16:30:32
Key Financial Figures
- $5.00 — nge on which registered Common Stock, $5.00 par value CAG New York Stock Exchan
Filing Documents
- tmb-20240825x10q.htm (10-Q) — 1578KB
- tmb-20240825xex10d1.htm (EX-10.1) — 56KB
- tmb-20240825xex10d2.htm (EX-10.2) — 52KB
- tmb-20240825xex10d3.htm (EX-10.3) — 51KB
- tmb-20240825xex10d4.htm (EX-10.4) — 49KB
- tmb-20240825xex10d5.htm (EX-10.5) — 51KB
- tmb-20240825xex31d1.htm (EX-31.1) — 12KB
- tmb-20240825xex31d2.htm (EX-31.2) — 12KB
- tmb-20240825xex32.htm (EX-32) — 9KB
- 0001558370-24-013126.txt ( ) — 9070KB
- tmb-20240825.xsd (EX-101.SCH) — 53KB
- tmb-20240825_cal.xml (EX-101.CAL) — 76KB
- tmb-20240825_def.xml (EX-101.DEF) — 223KB
- tmb-20240825_lab.xml (EX-101.LAB) — 493KB
- tmb-20240825_pre.xml (EX-101.PRE) — 380KB
- tmb-20240825x10q_htm.xml (XML) — 1842KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION 1 Item 1
Financial Statements
Financial Statements 1 Unaudited Condensed Consolidated Statements of Earnings for the Thirteen Weeks Ended August 25, 2024 and August 27, 2023 1 Unaudited Condensed Consolidated Statements of Comprehensive Income for the Thirteen Weeks Ended August 25, 2024 and August 27, 2023 2 Unaudited Condensed Consolidated Balance Sheets as of August 25, 2024 and May 26, 2024 3 Unaudited Condensed Consolidated Statements of Cash Flows for the Thirteen Weeks Ended August 25, 2024 and August 27, 2023 4 Notes to Unaudited Condensed Consolidated Financial Statements 5 Item 2
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 24 Item 4
Controls and Procedures
Controls and Procedures 25
OTHER INFORMATION
PART II. OTHER INFORMATION 26 Item 1
Legal Proceedings
Legal Proceedings 26 Item 1A
Risk Factors
Risk Factors 26 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 26 Item 5 Other Information 26 Item 6 Exhibits 27
Signatures
Signatures 28 Table of Contents
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS Conagra Brands, Inc. and Subsidiaries Condensed Consolidated Statements of Earnings (in millions except per share amounts) (unaudited) Thirteen Weeks Ended August 25, 2024 August 27, 2023 Net sales $ 2,794.9 $ 2,904.0 Costs and expenses: Cost of goods sold 2,055.6 2,080.9 Selling, general and administrative expenses 337.7 334.1 Pension and postretirement non-service income (expense) 3.1 ( 0.3 ) Interest expense, net 105.8 106.0 Equity method investment earnings 29.1 35.5 Income before income taxes 328.0 418.2 Income tax expense (benefit) ( 138.9 ) 98.3 Net income $ 466.9 $ 319.9 Less: Net income attributable to noncontrolling interests 0.1 0.2 Net income attributable to Conagra Brands, Inc. $ 466.8 $ 319.7 Earnings per share — basic Net income attributable to Conagra Brands, Inc. common stockholders $ 0.97 $ 0.67 Earnings per share — diluted Net income attributable to Conagra Brands, Inc. common stockholders $ 0.97 $ 0.67 See Notes to the Unaudited Condensed Consolidated Financial Statements. 1 Table of Contents Conagra Brands, Inc. and Subsidiaries Condensed Consolidated Statements of Comprehensive Income (in millions) (unaudited) Thirteen Weeks Ended August 25, 2024 August 27, 2023 Tax Tax Pre-Tax (Expense) After- Tax Pre-Tax (Expense) After- Tax Amount Benefit Amount Amount Benefit Amount Net income $ 328.0 $ 138.9 $ 466.9 $ 418.2 $ ( 98.3 ) $ 319.9 Other comprehensive income: Derivative adjustments: Unrealized derivative adjustments ( 2.5 ) 0.6 ( 1.9 ) 4.1 ( 1.0 ) 3.1 Reclassification for derivative adjustments included in net income ( 1.9 ) 0.5 ( 1.4 ) ( 2.0 ) 0.5 ( 1.5 ) Currency translation adjustments: Unrealized currency translation gains (losses) ( 19.3 ) — ( 19.3 ) 10.6 — 10.6 Reclassification for currency translation losses in connection with