Q4 2024 Conagra Brands Inc Earnings Call (Pre-Recorded) Transcript
Key Points
- Conagra Brands Inc (CAG) demonstrated solid progress throughout fiscal '24 amidst a challenging consumer environment.
- The company reported full-year adjusted gross and operating margin expansion supported by productivity improvements across the supply chain.
- Strong free cash flow enabled Conagra Brands Inc (CAG) to reduce its net leverage ratio and strengthen its balance sheet.
- The company saw significant volume recovery in its domestic retail business, particularly in the frozen and snacks categories.
- Conagra Brands Inc (CAG) achieved a 4% cost savings as a percentage of cost of goods sold, reaching its long-term target.
- Organic net sales and adjusted EPS saw one-year declines.
- The consumer environment is expected to remain challenging in fiscal '25, leading to a tempered outlook.
- Volume declines were observed in the Grocery and Snacks and Foodservice segments.
- Adjusted operating margin in the refrigerated and frozen segment declined due to increased trade merchandising investments.
- The company anticipates a decline in adjusted operating margin for fiscal '25 compared to fiscal '24.
Good morning. This is Melissa Napier from Conagra Brand. Thank you for listening to our prepared remarks on Conagra Brand's, fourth quarter and fiscal year 2024 earnings at 9:30 eastern this morning. We will hold a separate live question-and-answer session on today's results, which you can access via webcast on our Investor Relations website. Our press release, presentation materials and a transcript of these prepared remarks are also available there.
I'm joined this morning by Sean Connolly, our CEO; and Dave Marberger, our CFO. We will be making some forward-looking statements today and while we are making these statements in good faith based on current information, we do not have any guarantee about the results we will achieve. Descriptions of our risk factors are included in our filings with the SEC.
We will also be discussing some non-GAAP financial measures. Please see our earnings release and slides for the GAAP to non-GAAP reconciliations and information on our comparability items, which can be found in
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