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Conagra Brands Announces Fourth Quarter and Fiscal Year 2022 Results; Sean Connolly Discusses

Conagra Brands Announces Fourth Quarter and Fiscal Year 2022 Results; Sean Connolly Discusses


CHICAGO, IL
Thursday, July 21st, 2022

Conagra Brands recently released its results for its fourth quarter and full fiscal year 2022, which ended on May 29, 2022. In the release, Conagra detailed its net sales increased 6.2 percent to $2.9 billion for the quarter.

Sean Connolly, President and Chief Executive Officer, Conagra Brands“Throughout fiscal 2022, our team took decisive actions to offset inflation and invest in our business,” commented Sean Connolly, the President and Chief Executive Officer of Conagra Brands, in the company’s release. “I’m pleased that our brands continued to resonate with consumers, and we continued to grow share.”

In the report, Conagra noted a 6.8 percent increase in organic net sales, driven by a 13.2 percent improvement in price and mix. Adjusted gross profit increased 0.3 percent to $723 million, and adjusted EPS Growth saw a 20.4 percent increase.

In its recent fourth quarter and fiscal year 2022 results report, Conagra detailed its net sales increased 6.2 percent to $2.9 billion for the quarter

Other key takeaways in the quarter include:

  • Reported and organic net sales for the Grocery & Snacks segment increased 7.2 percent to $1.2 billion
  • Net sales for the Refrigerated & Frozen segment increased 3.4 percent to $1.2 billion
  • Net sales for the Foodservice segment increased 21.5 percent to $287 million
  • Net sales for the International segment increased 0.9 percent to $231 million

“I was also pleased to see margin improvement materialize in the fourth quarter in Grocery & Snacks and Foodservice,” Connolly continued. “This represents an important inflection that we expect will extend to our Refrigerated & Frozen and International businesses as fiscal 2023 progresses.”

To learn more, click here for the full report.

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