ConAgra Q2 2021 Earnings Report
Key Takeaways
Conagra Brands reported strong second-quarter results, exceeding guidance for each metric. Net sales increased by 6.2%, with organic net sales up by 8.1%. The company achieved its targeted Net Leverage Ratio ahead of schedule due to debt reduction and strong earnings.
Net sales increased 6.2%, and organic net sales increased 8.1%.
Total Company operating margin increased 250 basis points to 17.7%, and adjusted operating margin increased 250 basis points to 19.6%.
EPS grew 45.3% to $0.77, and adjusted EPS grew 28.6% to $0.81.
The Company reduced its gross debt by $2.3 billion, achieving its targeted Net Leverage Ratio ahead of schedule.
ConAgra
ConAgra
ConAgra Revenue by Segment
Forward Guidance
The Company is providing guidance for the third quarter of fiscal 2021:
Positive Outlook
- Organic net sales growth is expected in the range of +6% to +8%
- Adjusted operating margin is expected in the range of 16.0% to 16.5%
- Adjusted EPS is expected in the range of $0.56 to $0.60
Revenue & Expenses
Visualization of income flow from segment revenue to net income