Conagra Brands Updates FY25 Adj. EPS From $2.45-$2.50 To ~$2.35 Vs $2.46 Est.; Revenue From Near The Midpoint Of (1.5)% To Flat To ~(2.0)%

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ConAgra Foods, Inc.

CAG

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Updated Fiscal 2025 Outlook Reflects Temporary Service Constraints and Impact of Foreign Exchange;

Long-Term Targets Unchanged

CHICAGO, Feb. 17, 2025 /PRNewswire/ -- Conagra Brands, Inc. (NYSE:CAG) announced that its upcoming presentation at the annual Consumer Analyst Group of New York (CAGNY) Conference will detail Conagra's advantaged market position, perspective on the evolving consumer environment, and unique focus on the science of growth. Conagra will also preview a series of new innovations expected to launch in calendar year 2025 and provide detail on its updated fiscal 2025 financial guidance.

As previously announced, Sean Connolly, president and chief executive officer, Dave Marberger, executive vice president and chief financial officer, and Bob Nolan, senior vice president, growth science, will present on February 18 at 9:00 a.m. ET.

Fiscal 2025 Outlook Update

The company has experienced customer service interruptions during the third quarter due to supply constraints on two product platforms: frozen meals containing chicken and frozen vegetables. In addition, foreign exchange rates are now expected to provide a further headwind to adjusted earnings per share.

As a result of these challenges, the company is making the following updates to its fiscal 2025 financial outlook1:

Metric	Prior Fiscal 2025 Guidance	Updated Fiscal 2025 Guidance
Organic Net Sales Growth (vs. FY24)	Near the midpoint of (1.5)% to flat	~(2.0)%
Adjusted Operating Margin	~14.8%	~14.4%
Adjusted EPS	$2.45 to $2.50	~$2.35
Net Leverage Ratio	~3.4x	~3.55x

The company's expectations for capital expenditures, free cash flow conversion, interest expense, Ardent Mills' contribution, pension income, adjusted effective tax rate and inflation remain unchanged from our second quarter earnings materials. The company's updated guidance does not include any potential impacts from new tariffs. Conagra's long-term financial targets are unchanged.

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