LONDON, UK / ACCESSWIRE / January 12, 2018 / Active-Investors.com has just released a free earnings report on Conagra Brands, Inc. (NYSE: CAG) ("Conagra"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CAG. The Company posted its financial results on December 21, 2017, for the second quarter fiscal 2018. The Company's revenue and adjusted EPS surpassed analysts' expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Conagra Brands most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For three months ended November 26, 2017, Conagra's revenues increased 4.1% to $2.17 billion from $2.09 billion in Q2 FY17. The Company's revenue surpassed analysts' expectations of $2.07 billion.

For the reported quarter, the Company's gross profit increased 1.7% to $658.3 million from $647.5 million in Q2 FY17. For the reported quarter, the Company's gross margin decreased 70 basis points to 30.3% of revenue from 31% of revenue in Q2 FY17. For the reported quarter, the Company's adjusted gross margin decreased 100 basis points to 30.1% of revenue from 31.1% of revenue in Q2 FY17.

During Q2 FY18, Conagra's earnings before tax (EBT) increased 78.4% to $313 million from $175.5 million in the same period last year. For the reported quarter, the Company's EBT margin increased 600 basis points to 14.4% of revenue from 8.4% of revenue in Q2 FY17.

For the reported quarter, Conagra's net income increased 96.1% to $224.1 million on a y-o-y basis from $114.3 million in Q2 FY17. During Q2 FY18, the Company's diluted EPS increased 107.7% to $0.54 on a y-o-y basis from $0.26 in the same period last year. During Q2 FY18, the Company's adjusted diluted EPS increased 12.2% to $0.55 on a y-o-y basis from $0.49 in the same period last year. Adjusted diluted EPS surpassed analysts' expectations of $0.52.

Conagra Brands' Segment Details

Grocery & Snacks -During Q2 FY18, the Grocery & Snacks segment's revenue increased 5.5% to $900.4 million from $853.2 million in the same period last year. For the reported quarter, the segment's operating income decreased 9.2% to $199.8 million from $220.2 million in Q2 FY17. For the reported quarter, the segment's adjusted operating income decreased 4.5% to $211.6 million from $221.6 million in Q2 FY17. The decreases were due to merchandising investments as well as the impacts of higher input costs and costs associated with the recent hurricanes.

Refrigerated & Frozen - During Q2 FY18, the Refrigerated & Frozen segment's revenue increased 2.3% to $758.1 million from $740.7 million in the same period last year. For the reported quarter, the segment's operating income increased 8.9% to $128.5 million from $118 million in Q2 FY17. For the reported quarter, the segment's adjusted operating income increased 6.9% to $128.5 million from $120.2 million in Q2 FY17. The increase was primarily driven by volume growth and supply chain realized productivity.

International - During Q2 FY18, the International segment's revenue increased 4.2% to $220.3 million from $211.4 million in the same period last year. For the reported quarter, the segment's operating income was $20.2 million compared to operating loss of $26.7 million in Q2 FY17. For the reported quarter, the segment's adjusted operating income increased 19.9% to $21.1 million from $17.6 million in Q2 FY17. The increase was due to increased pricing, favorable brand margin mix, and the impact of favorable foreign exchange.

Foodservice - During Q2 FY18, the Company's Foodservice segment's revenue increased 4.1% to $294.6 million from $283.1 million in the same period last year. For the reported quarter, the segment's operating income increased 48.4% to $47.4 million from $31.9 million in Q2 FY17.

Balance Sheet

As on November 26, 2017, Conagra's cash and cash equivalents decreased 66.6% to $84 million from $251.4 million on May 28, 2017. For the reported quarter, the Company's senior long-term debt, excluding current installments increased 19.1% to $3.07 billion from $2.57 billion in Q4 FY17.

For the reported quarter, the Company's net receivables increased 21.4% to $683.8 million from $563.4 million in Q4 FY17. For the reported quarter, the Company's accounts payable increased 14.7% to $886.7 million from $773.1 million in Q4 FY17.

During Q2 FY18, the Company repurchased 8 million shares of its common stock for $280 million.

During H1 FY18, the Company's net cash flow from operating activities decreased 16.8% to $383 million from $460.6 million in the same period last year.

On December 12, 2017, the Company's Board of Directors approved a quarterly dividend payment of $0.2125 per share of its common stock to be paid on March 01, 2018, to stockholders of record as of the close of business on January 30, 2018.

On December 21, 2017, Conagra announced that it had entered into a definitive agreement to acquire the Sandwich Bros. of Wisconsin business, which produces frozen breakfast and entrée flatbread sandwiches.

Outlook

For FY18, the Company expects adjusted diluted EPS to be in the range of $1.84 to $1.89.

Stock Performance Snapshot

January 11, 2018 - At Thursday's closing bell, Conagra Brands' stock slightly declined 0.19%, ending the trading session at $36.76.

Volume traded for the day: 2.71 million shares.

Stock performance in the previous three-month period ? up 8.79%; and past six-month period ? up 9.67%

After yesterday's close, Conagra Brands' market cap was at $14.97 billion.

Price to Earnings (P/E) ratio was at 21.89.

The stock has a dividend yield of 2.31%.

The stock is part of the Consumer Goods sector, categorized under the Processed & Packaged Goods industry. This sector was up 0.5% at the end of the session.

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