On the occasion of its quarterly publication, Conagra Brands has lowered its annual targets to anticipate adjusted EPS of between $2.60 and $2.65, an adjusted operating margin of around 15.6% and organic revenues down by 1% to 2%.

For its second quarter 2023-24, the food group saw its adjusted EPS fall by 12.3% to 0.71 dollars and its adjusted operating margin slip by 1.1 points to 15.9%, on revenues of 3.21 billion, down 3.4% organically.

Despite a persistently difficult macroeconomic environment, we saw several positive signs in the second quarter", says CEO Sean Connolly, who mentions in particular much lower volume declines attributable to inflation.

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