Conagra Brands sees low-single digit organic net sales decline in Q2

Q2 revenue consensus $3.32B. “The company is reiterating its fiscal 2024 outlook and providing high-level drivers for the second quarter and back half of the year. For the second quarter, the company is expecting a low-single digit organic net sales decline as volume declines improve as inflation-driven pricing actions from fiscal 2023 are wrapped. We expect gross and operating margins to be below the first quarter due to incremental trade and A&P investment. For the back half of the year, the company is expecting low-single digit organic net sales growth driven by year-over-year volume growth, along with margins similar to Q2 as trade and A&P dollars remain elevated.”