Conagra reported net sales of $2.8 billion, down 1.9% year-over-year, while organic net sales increased 2.4% from a 1.9% price/mix gain and 0.5% volume growth. Gross profit fell 7.4% to $658 million and adjusted gross profit declined 6.3% to $660 million. Reported diluted EPS rose 40% to $0.42, offset by a 23.5% drop in adjusted EPS to $0.39.

The Grocery & Snacks segment saw net sales decrease 6.3% to $1.2 billion with 1.8% organic growth driven by stronger snacks pricing, while operating profit fell 10.4% to $213 million. Refrigerated & Frozen sales increased 1.6% to $1.1 billion with a 3.9% volume gain, lifting operating profit by 4.4% to $100 million. International sales rose 1.3% to $227 million, aided by favorable foreign exchange, though organic sales dipped 1.2%.

Conagra narrowed its fiscal 2026 outlook to organic net sales growth near 0%–1%, adjusted operating margin near the high end of 11.0%–11.5% and adjusted EPS of $1.70. Management highlighted over-delivery on free cash flow conversion and debt reduction targets, citing strong cash generation and operational agility despite a dynamic macro environment.