Conagra Brands, the maker of Slim Jim and Hunt’s ketchup, forecast annual profit below Wall Street estimates on Wednesday. The company cited elevated commodity costs and cautious consumer spending as factors that would continue to weigh on its business.
Shares of Conagra Brands were down about 3% in premarket trading. Higher beef prices, along with tariffs on steel and aluminum used in packaging, remain a margin pressure for the company. Conagra increased prices last year to offset higher ingredient costs and tariffs on tin-plate steel used in packaging.
Financial Outlook
The company expects fiscal 2027 adjusted profit of $1.40 to $1.50 per share, below the average estimate of $1.59 per share. Conagra also forecast an annual organic net sales decline of between 1% and 3%, compared to a 0.4% decline in fiscal 2026.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
