India, April 3 -- Branded food company Conagra Brands, Inc. (CAG) reported Wednesday that profit for the first quarter more than halved from last year, reflecting contracting gross margins and net sales decline across its operating segments. Adjusted earnings per share and quarterly revenues also missed analysts' estimates. The company reaffirmed its outlook for the full-year 2025.
In the pre-market trading on Thursday, Conagra is trading on the NYSE at $25.85, down $0.53 or 2.01 percent.
"Our third quarter unfolded largely as expected since our update in February at CAGNY, with strong consumption trends and share performance reflecting the continued resilience of our brands," said Sean Connolly, president and CEO.
For the third quarter,...