CAG FY 2023 Earnings Report — Conagra Brands, Inc. Revenue & Financial Results | Market Cap Arena

Conagra Brands, Inc.CAG

FY 2023 Earnings

Reported July 13, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$12.3B	—	$11.5B	—	6.4%
Op. Income	$1.1B	—	$1.3B	—	-20.1%
Gross Margin	26.6%	—	24.6%	—	2.0pp
Net Margin	5.6%	—	7.7%	—	-2.1pp
EPS (Diluted)	$1.42	—	$1.84	—	-22.8%
Free Cash Flow	$633M	—	$713M	—	-11.2%

Revenue Flow

Item	Amount
REVENUE	$12.3B
Cost of Revenue	$9.0B
GROSS PROFIT	$3.3B
R&D Expenses	$58M
Selling & Marketing	-$758M
General & Administrative	$2.2B
SG&A Expenses	$1.4B
Other Expenses	$700M
Operating Expenses	$2.2B
Cost & Expenses	$11.2B
OPERATING INCOME	$1.1B
Interest Income	$4M
Interest Expense	$414M
Other Income/Expenses	-$173M
INCOME BEFORE TAX	$902M
Income Tax Expense	$219M
Net Income from Continuing Ops	$683M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$684M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$684M
D&A	$370M
EBIT	$1.3B
EBITDA	$1.7B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$12.3B
Cost of Revenue	$9.0B
GROSS PROFIT	$3.3B
R&D Expenses	$58M
Selling & Marketing	-$758M
General & Administrative	$2.2B
SG&A Expenses	$1.4B
Other Expenses	$700M
Operating Expenses	$2.2B
Cost & Expenses	$11.2B
OPERATING INCOME	$1.1B
Interest Income	$4M
Interest Expense	$414M
Other Income/Expenses	-$173M
INCOME BEFORE TAX	$902M
Income Tax Expense	$219M
Net Income from Continuing Ops	$683M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$684M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$684M
D&A	$370M
EBIT	$1.3B
EBITDA	$1.7B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$683M
Depreciation & Amortization	$370M
Stock-Based Compensation	$79M
Deferred Income Tax	-$26M
Other Non-Cash Items	$705M
Change in Working Capital	-$816M
OPERATING CASH FLOW	$995M
Capital Expenditure	-$362M
Acquisitions (Net)	$3M
Purchases of Investments	-$5M
Sales/Maturities of Investments	$5M
Other Investing Activities	$4M
NET CASH FROM INVESTING	-$355M
Net Debt Issuance	$139M
Common Stock Repurchased	-$150M
Common Dividends Paid	-$624M
Other Financing Activities	$900.0K
NET CASH FROM FINANCING	-$632M
FREE CASH FLOW	$633M
Net Change in Cash	$11M

Balance Sheet

Item	Amount
Cash & Equivalents	$93M
Short-Term Investments	$0
Net Receivables	$953M
Inventory	$2.2B
Other Current Assets	$127M
TOTAL CURRENT ASSETS	$3.4B
PP&E (Net)	$2.7B
Goodwill	$11.1B
Intangible Assets	$3.2B
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$1.6B
TOTAL NON-CURRENT ASSETS	$18.7B
TOTAL ASSETS	$22.1B
Account Payables	$1.5B
Short-Term Debt	$2.2B
Deferred Revenue	$0
Other Current Liabilities	$16M
TOTAL CURRENT LIABILITIES	$4.4B
Long-Term Debt	$7.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$1.1B
Other Non-Current Liabilities	$394M
TOTAL NON-CURRENT LIABILITIES	$8.8B
TOTAL LIABILITIES	$13.2B
Common Stock	$2.9B
Additional Paid-In Capital	$2.4B
Retained Earnings	$6.6B
Treasury Stock	-$3.1B
Accum. Other Comp. Income	-$44M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$8.7B
Minority Interest	$71M
TOTAL EQUITY	$8.8B
TOTAL LIABILITIES & EQUITY	$22.1B
Total Debt	$9.4B
Net Debt	$9.3B