Conagra Brands (NYSE:CAG) unveiled its financial achievements for the third quarter of the fiscal year 2024 on April 4, showcasing a mixed performance amid challenging market dynamics.

The company observed a slight dip in net sales by 1.7% compared to the same period last year, with organic net sales also seeing a marginal reduction of 2%.

Meanwhile, the operating margin experienced a minor contraction, settling at 15.5%, representing a reduction of 33 basis points year-over-year.

Notably, diluted earnings per share (EPS) fell by 9.9% to $0.64, alongside a similar 9.2% decline in adjusted EPS to $0.69.

Despite these pressures, Conagra has updated its outlook for fiscal 2024, opting to elevate its adjusted operating margin guidance while maintaining its projections for organic net sales and adjusted EPS.