Conagra Brands, Inc.

Is Conagra Brands publicly traded?
Yes, Conagra Brands, Inc. trades on the New York Stock Exchange under ticker symbol CAG. The company operates as an independent entity with no parent company.

Who owns Conagra Brands?
Conagra Brands is owned by institutional investors, mutual funds, and individual shareholders. The company is an independent publicly traded entity with no controlling shareholder.

What is Conagra's annual revenue?
For FY2025 (ended May 25, 2025), Conagra reported net sales of $11,612.8 million ($11.6 billion), down 3.6% from $12,050.9 million in FY2024. Organic net sales decreased 2.9%.

Who is the CEO of Conagra Brands?
Sean M. Connolly serves as President and Chief Executive Officer. He has held this position since April 2015, previously serving as CEO of Hillshire Brands and in senior roles at Campbell Soup Company.

What brands does Conagra own?
Conagra owns numerous major food brands including Birds Eye, Duncan Hines, Healthy Choice, Marie Callender's, Slim Jim, Reddi-wip, Hunt's, Orville Redenbacher's, Angie's BOOMCHICKAPOP, Banquet, Red Baron, Tony's, French's, and Libby's.

When was Conagra founded?
Conagra was founded in 1919 as Nebraska Consolidated Mills by Alva Kinney and Frank Little. The company was initially incorporated as a Nebraska corporation and reincorporated as a Delaware corporation in 1976.

How many people does Conagra employ?
As of May 25, 2025, Conagra had approximately 18,300 employees, primarily in the United States. Approximately 44% of employees are covered by collective bargaining agreements.

What is Conagra's fiscal year?
Conagra's fiscal year ends in late May. FY2025 ended on May 25, 2025. FY2026 will end in late May 2026.

What is Conagra's relationship with Walmart?
Walmart and its affiliates accounted for approximately 29% of Conagra's consolidated net sales in FY2025, up from 28% in FY2024 and FY2023. This concentration provides significant distribution scale but also creates customer dependency risk.

Conagra was founded in 1919 as Nebraska Consolidated Mills by Alva Kinney and Frank Little. The company began as a Midwestern flour milling operation and entered other commodity-based businesses throughout its history. It was initially incorporated as a Nebraska corporation in 1919 and reincorporated as a Delaware corporation in 1976.

Over time, Conagra transformed from a commodity-based milling company into a branded, pure-play consumer packaged goods food company. This transformation was fueled by innovation, organic growth of its brands, and expansion into adjacent categories through acquisitions.

Throughout the 20th century, Conagra acquired numerous brands that built its diverse portfolio. Key acquisitions included Hunt's (tomato products), Orville Redenbacher's (popcorn), Marie Callender's (frozen meals), Banquet (frozen meals), Birds Eye (frozen vegetables), and Slim Jim (meat snacks). The company also expanded into frozen pizza through the Red Baron and Tony's brands.

In 2015, Sean Connolly became President and CEO, joining from Hillshire Brands (previously Sara Lee). Connolly led a strategic transformation of Conagra's portfolio, divesting commodity and private label businesses to focus on branded consumer foods. This included the acquisition of Pinnacle Foods in 2018 for approximately $10.9 billion, which added Birds Eye, Duncan Hines, and other brands to the portfolio.

In recent years, Conagra has focused on modernizing its brand portfolio, investing in product innovation, and adapting to changing consumer preferences including healthier options, convenience foods, and value-oriented products. The company has also invested in e-commerce capabilities and digital marketing to reach consumers through online channels.

For FY2026, Conagra guided organic net sales growth in the range of minus 1% to plus 1%, adjusted operating margin of approximately 11.0% to 11.5%, and adjusted EPS in the range of $1.70 to $1.85. This guidance reflects continued challenges from inflation, foreign exchange headwinds, and competitive pressures in the packaged food industry.

Conagra does not have independently verified sustainability certifications. The company is not a Certified B Corporation. The company does not participate in the Science Based Targets initiative.

Conagra's sustainability efforts focus on environmental responsibility, food safety, and supply chain responsibility. The company has implemented programs to reduce carbon emissions in manufacturing facilities, adopt renewable energy, and reduce waste across its operations.

Food safety and quality control are core principles for Conagra's operations. The company maintains comprehensive safety protocols, quality control systems, and product testing programs across its manufacturing facilities. Conagra must comply with FDA regulations and food safety standards.

Supply chain responsibility includes ethical sourcing of raw materials, sustainable agricultural practices, and quality control standards. The company works with suppliers to ensure environmental compliance and ethical labor practices across its agricultural supply chain.

Approximately 44% of Conagra's employees are covered by collective bargaining agreements. The company maintains relationships with employee representative organizations and believes these relationships are good.

Corporate governance emphasizes ethical business practices, transparent reporting, and stakeholder engagement. The company maintains board oversight and ethics training for employees.

Conagra Brands has received recognition for food innovation, sustainability, and corporate achievement:

• Food Innovation Awards: Recognition for product innovation, food science development, and culinary excellence
• Sustainability Leadership Recognition: Awards for environmental initiatives and sustainable food production practices
• Brand Recognition Awards: Recognition for brand strength and consumer loyalty across its food portfolio
• Workplace Excellence: Recognition for workplace culture, diversity, and employee satisfaction
• Quality Excellence Awards: Recognition for food quality and safety standards
• Corporate Responsibility Awards: Recognition for community engagement and social impact programs

Conagra operates under regulatory scrutiny related to food safety, environmental compliance, health and nutrition, and competitive practices.

Food Safety and Regulatory Compliance: Conagra must maintain strict adherence to FDA regulations, food safety standards, and product labeling requirements. The company must navigate complex regulatory requirements across federal and state jurisdictions. Food safety incidents could result in recalls, legal liability, and reputational damage.

Inflation and Pricing Pressures: FY2025 was "more challenging than we anticipated" according to CEO Sean Connolly. Higher than expected inflation, foreign exchange headwinds, and supply constraints impacted the second half of the fiscal year. The company's adjusted operating margin declined 188 basis points to 14.1%, and adjusted EPS decreased 13.9% to $2.30.

Walmart Concentration Risk: Walmart and its affiliates accounted for approximately 29% of consolidated net sales in FY2025. This concentration creates dependency on a single customer and exposes Conagra to Walmart's pricing decisions, shelf-space allocation, and private label expansion. If Walmart reduces orders or shifts shelf space to private label products, Conagra's revenue could be materially impacted.

Health and Nutrition Concerns: Conagra faces scrutiny regarding product formulations, ingredient sourcing, and nutritional content. Consumer preferences are shifting toward healthier, fresher, and less processed food options. The company must adapt its portfolio to address these trends while maintaining the taste and convenience that consumers expect from its brands.

Private Label Competition: Private label products have gained market share as consumers seek value, particularly during periods of inflation. Conagra's branded products face competitive pressure from retailer private label offerings, which are typically priced lower and have improved in quality over time.

Environmental Compliance: Conagra faces scrutiny regarding the environmental impact of food production, including agricultural practices, water usage, packaging waste, and carbon emissions. The company must address sustainability concerns while maintaining affordable product pricing.

Labor Relations: Approximately 44% of Conagra's employees are covered by collective bargaining agreements. Labor disputes or negotiations could impact operations, particularly at manufacturing facilities.

FY2026 Guidance Concerns: Conagra's FY2026 guidance of adjusted EPS in the range of $1.70 to $1.85 represents a significant decline from FY2025's adjusted EPS of $2.30. This guidance reflects continued challenges from inflation, foreign exchange, and competitive pressures, raising questions about the company's near-term earnings trajectory.