Filing Flows › Conagra Brands (CAG) › Q2 FY26
Conagra Brands (CAG) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Dec 19, 2025
Conagra Brands (CAG) reported revenue of $3.0B for the second quarter fiscal 2026 (Q2 FY26), -7% from a year earlier and +13% from the quarter before. Operating margin was -20.1%, net loss $664M (22.3% of revenue).
Conagra Brands, Q2 FY26: revenue $3.0B (-7% year over year), operating margin -20.1%, net loss $664M, operating cash flow $211M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.0B | +13% | -7% |
| Operating profit | −$598M | -272% | — |
| Net earnings | −$664M | -503% | — |
| Operating cash flow | $211M | +75% | -57% |
| Free cash flow | $139M | — | -66% |
What changed
Revenue was $3.0B in Q2 FY26, down 7% year over year and up 13% from the previous quarter. Frozen was the largest line at 35% of revenue. Other Shelf-stable lost $0.13B year over year (down 17%), 58% of the total change.
Gross margin was 23.4%, down 3.1 points from a year earlier. Operating costs exceeded revenue by $0.60B, an operating margin of -20.1%. Operating expenses grew 191% against a revenue fall of 7%. The fastest-growing cost line was Other operating costs (+5024%). The quarter ended with a net loss of $0.66B, after a profit of $0.16B the previous quarter.
Operating cash flow was $0.21B (down 57% year over year). Non-cash charges added back $0.10B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.76B. Capital expenditures of $0.07B left free cash flow of $0.14B.
Questions
What was Conagra Brands' revenue in the second quarter fiscal 2026?
Conagra Brands (CAG) reported revenue of $3.0B for the second quarter fiscal 2026 (Q2 FY26), -7% from a year earlier and +13% from the quarter before.
Was Conagra Brands profitable in the second quarter fiscal 2026?
Operating loss was $598M (-20.1% of revenue) and net loss $664M.
Source: Conagra Brands 10-Q on SEC EDGAR.