Conagra reaffirms 2026 outlook, lifts cash flow forecast ahead of CAGNY

Conagra Brands (NYSE:CAG) stood by its fiscal 2026 financial targets Monday, signaling stability in its core portfolio as it prepares to address investors at the Consumer Analyst Group of New York (CAGNY) conference.

In a statement released ahead of its Tuesday morning presentation, the Chicago-based maker of Slim Jim and Birds Eye reaffirmed its organic net sales guidance of between a 1% decline and 1% growth.

The company also maintained its adjusted earnings per share forecast of $1.70 to $1.85 and an adjusted operating margin ranging from 11% to 11.5%.

The most significant update came in the company's efficiency outlook.

Conagra now expects free cash flow conversion to hit approximately 100% for the full year, a notable increase from its previous guidance of roughly 90%.

The upward revision suggests the company is successfully optimizing inventory and capital expenditures despite a broader industry slowdown in volume growth.