07:58 AM EDT, 10/02/2024 (MT Newswires) -- Conagra Brands ( CAG ) reported Wednesday fiscal Q1 adjusted earnings of $0.53 per share, down from $0.66 a year earlier.

Analysts polled by Capital IQ expected $0.60.

Net sales for the quarter ended Aug. 25 were $2.79 billion, down from $2.90 billion a year earlier.

Analysts surveyed by Capital IQ expected $2.84 billion.

For fiscal 2025, the company said it continues to expect adjusted EPS of $2.60 to $2.65 with organic net sales seen flat to down 1.5% compared with a year earlier. Analysts polled by Capital IQ expect $2.61.

Shares of the company were down more than 2% in recent Wednesday premarket activity.

Price: 31.86, Change: -0.86, Percent Change: -2.63