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Conagra Brands (CAG) earnings and revenue breakdown

Latest: Q1 FY27 · 10-Q filed Sep 30, 2026 · Conagra Brands (CAG) Q1 FY27 earnings results →

Q1 FY27 Revenue down 1% year over year to $2.6B · 7¢ of every $1 of revenue kept as net profit · operating margin 10.3%

Conagra Brands made $2.6B in Q1 FY27 (-1% Y/Y): Frozen $878M, Other Shelf-stable $552M, Snacks $499M. Operating margin 10.3%, net earnings $174M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 30, 2026.

Revenue$2.6B
Year over year-1%
Operating margin10.3%
Net earnings$174M
Operating cash flow−$4.2M

Drawing the Sankey…

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Conagra Brands Q1 FY27 revenue breakdown: Sankey diagram of revenue (Frozen, Other Shelf-stable, Snacks, Foodservice), costs, profit and cash flow
Conagra Brands Q1 FY27 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $2.6B in Q1 FY27, down 1% year over year and down 10% from the previous quarter. Frozen was the largest line at 34% of revenue. Frozen lost $0.02B year over year (down 2%), 57% of the total change.

Gross margin was 23.8%, down 0.5 points from Q1 FY26. Operating profit was $0.27B, a 10.3% margin (down 2.9 points year over year). Operating expenses grew 19% against a revenue fall of 1%. Net earnings were $0.17B, up 6% year over year. The effective tax rate was 25.2%.

Operating cash flow was −$4.2M. Non-cash charges added back $0.10B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.29B. Capital expenditures of $0.12B exceeded it, leaving free cash flow of −$0.13B.

Quarterly history

Conagra Brands revenue by quarterConagra Brands revenue by quarter$2.8BQ3 FY25$2.8BQ4 FY25$2.6BQ1 FY26$3.0BQ2 FY26$2.8BQ3 FY26$2.9BQ4 FY26$2.6BQ1 FY27
Conagra Brands net earnings by quarterConagra Brands net earnings by quarter$145MQ3 FY25$256MQ4 FY25$164MQ1 FY26−$664MQ2 FY26$200MQ3 FY26−$1.6BQ4 FY26$174MQ1 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q1 FY2710-QSep 30, 2026$2.6B-1%10.3%$174M−$4.2M
Q4 FY2610-KJul 15, 2026$2.9B+4%-57.5%−$1.6B$506M
Q3 FY2610-QApr 1, 2026$2.8B-2%10.0%$200M$564M
Q2 FY2610-QDec 19, 2025$3.0B-7%-20.1%−$664M$211M
Q1 FY2610-QOct 1, 2025$2.6B-6%13.2%$164M$121M
Q4 FY2510-KJul 10, 2025$2.8B-4%0.1%$256M$346M
Q3 FY2510-QApr 3, 2025$2.8B-6%13.9%$145M$592M

Charts

Conagra Brands: revenue growth, year over year and quarter over quarterConagra Brands: revenue growth, year over year and quarter over quarterY/YQ/Q-6%Q3 FY25-4%-2%Q4 FY25-6%-5%Q1 FY26-7%+13%Q2 FY26-2%-6%Q3 FY26+4%+3%Q4 FY26-1%-10%Q1 FY27
Latest (Q1 FY27): Y/Y -1%, Q/Q -10%.
Conagra Brands: where the cash came from (+) and went (−), TTM to Q1 FY27Conagra Brands: where the cash came from (+) and went (−), TTM to Q1 FY27Operating cash flow$1.3BNet borrowing (+) / repaid (−)−$1.0BDividends−$670MOther financing$485MCapital spending−$400MCash drawn (+) / kept (−)$326MAsset & business sales$47.7MBuybacks−$44.3MOther investing$3.5MExchange rates$1.3M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Conagra Brands: profit against cash, quarter by quarterConagra Brands: profit against cash, quarter by quarterNet incomeOperating cash flow$284M$486MQ2 FY25$145M$592MQ3 FY25$256M$346MQ4 FY25$164M$121MQ1 FY26−$664M$211MQ2 FY26$200M$564MQ3 FY26−$1.6B$506MQ4 FY26$174M−$4.2MQ1 FY27
Latest (Q1 FY27): Net income $174M, Operating cash flow −$4.2M.
Conagra Brands: diluted shares by fiscal yearConagra Brands: diluted shares by fiscal year488MFY21482MFY22481MFY23480MFY24480MFY25479MFY26
-1.8% since FY21: buybacks shrank the count.
Conagra Brands: long-term debt falling due (FY26)Conagra Brands: long-term debt falling due (FY26)$779M2027$1.0B2028$1.7B2029$19.0M2030$818M2031
Cash $218M, short-term investments —, long-term debt $7.2B at 2026-05-31.
Conagra Brands in its industry: growth against margin (16 companies, SIC 2000)Conagra Brands in its industry: growth against margin (16 companies, SIC 2000)revenue growth, year over year →↑ operating marginmedian -1%median 0%MDLZCPBFLOBRBRBGSSMPLHAINVITLOFRMBYNDLSFBRLSBOFUCFITRWDCAG (-1%, 10%)
Food and Kindred Products; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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🔄Rotation against the market and its industry (RRG)interactive

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Customers and suppliers named in filings

Sells to

About Conagra Brands

Conagra Brands, Inc. (the “Company”, “Conagra Brands”, “we”, “us”, or “our”), headquartered in Chicago, is one of North America’s leading branded food companies. We combine a 100-year history of making quality food with agility and a relentless focus on collaboration and innovation. The company’s portfolio is continuously evolving to satisfy consumers’ ever-changing food preferences. Conagra’s brands include Birds Eye ® , Duncan Hines ® , Healthy Choice ® , Marie Callender’s ® , Reddi-wip ® , Slim Jim ® , Angie’s ® BOOMCHICKAPOP ® , and many more.

In its own words, from its annual report, filed Jul 10, 2025.

Conagra Brands against its Food and Kindred Products peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -1% against the peers' median -8%. Operating margin: 10.3% against the peers' median 9.0%.

CompanyQuarterRevenueY/YOp. margin
CAG Conagra BrandsQ1 FY27$2.6B-1%10.3%
MDLZ Mondelez InternationalQ3 2026$10.0B+2%17.6%
CPB Campbell'sQ4 FY26$2.1B-8%0.2%
FLO Flowers FoodsQ2 2026$1.2B-4%5.7%
BRBR Bellring BrandsQ3 FY26$570M+4%11.5%
BGS B&G FoodsQ2 2026$383M-10%9.0%
SMPL Simply Good FoodsQ4 FY26$333M-10%13.8%
HAIN Hain Celestial GroupQ4 FY26$263M-28%-21.2%
VITL Vital FarmsQ3 2026$182M-8%-4.2%

Source: Conagra Brands 10-Q on SEC EDGAR · CIK 23217 · Food and Kindred Products

13F: who owns CAG and who is buying

Largest holders of CAG (13F)Largest holders of CAG (13F)BlackRock$1.1BVanguard Group$1.0BVanguard Portfolio Management LLC$393MVanguard Capital Management LLC$290MAQR Capital Management LLC$276MState Street$223MDimensional Fund Advisors LP$206MTwo Sigma Investments, LP$177MGoldman Sachs Group$168MMorgan Stanley$149M
Funds' net buying of CAG by quarter (13F)Funds' net buying of CAG by quarter (13F)$150M2024-09$225M2024-12−$60.1M2025-03$591M2025-06−$376M2025-09−$114M2025-12$112M2026-03$154M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on CAG

History

Every quarter: Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results

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中文版：Conagra Brands（CAG）财报

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