CONAGRA BRANDS INC.

CAG 10-Q · Q2 2026

CAG Q2 2026 request

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Income Statement

Income Statement
Metric Q2 2026 Q2 2025 YoY
Revenue 2,979.1 3,195.1 -6.8%
Show Product Lines breakouts
Food service 288.4 292.2 -1.3%
Frozen 1,055.2 1,140.2 -7.5%
International 230.4 243.4 -5.3%
Other Shelf-stable 625.2 751 -16.8%
Refrigerated 196 198.3 -1.2%
Snacks 583.9 570 +2.4%
Show Business Segments breakouts
Food service · Operating Segments 288.4 292.2 -1.3%
Grocery & Snacks · Operating Segments 1,209.1 1,321 -8.5%
International · Operating Segments 230.4 243.4 -5.3%
Refrigerated & Frozen · Operating Segments 1,251.2 1,338.5 -6.5%
Show Consolidation Items breakouts
Operating Segments 2,979.1 3,195.1 -6.8%
Cost of Revenue 2,283.1 2,348.4 -2.8%
Show Business Segments breakouts
Food service · Operating Segments 236.3 236.4 -0.0%
Grocery & Snacks · Operating Segments 863.5 906.6 -4.8%
International · Operating Segments 170.1 175.3 -3.0%
Refrigerated & Frozen · Operating Segments 1,011.3 1,034.8 -2.3%
Show Consolidation Items breakouts
Operating Segments 2,281.2 2,353.1 -3.1%
Gross Profit 696 846.7 -17.8%
Selling, General & Administrative 325.1 425.2 -23.5%
Show Business Segments breakouts
Food service · Operating Segments 20.8 20 +4.0%
Grocery & Snacks · Operating Segments 114.4 118.7 -3.6%
International · Operating Segments 28.2 28.7 -1.7%
Refrigerated & Frozen · Operating Segments 112.4 105.6 +6.4%
Show Consolidation Items breakouts
Operating Segments 275.8 273 +1.0%
Goodwill Impairment Loss 771.3
Show Business Segments breakouts
Refrigerated & Frozen 771.3
Impairment Of Intangible Assets Indefinitelived Excluding Goodwill 197 18.9 +942.3%
Show Business Segments breakouts
Grocery & Snacks 1.7 0.7 +142.9%
Refrigerated & Frozen 195.3 18.2 +973.1%
Refrigerated & Frozen · Birds Eye Brand Name 180
Refrigerated & Frozen · Earth Balance and Smart Balance 17
Gain Loss On Sale Of Business 0.2
Operating Income -597.6 402.6 -248.4%
Show Business Segments breakouts
Food service · Operating Segments 31.3 35.8 -12.6%
Grocery & Snacks · Operating Segments 231.2 295.7 -21.8%
International · Operating Segments 32.1 39.4 -18.5%
Refrigerated & Frozen · Operating Segments 127.5 198.1 -35.6%
Show Consolidation Items breakouts
Operating Segments 422.1 569 -25.8%
Net Periodic Defined Benefits Expense Reversal Of Expense Excluding Service Cost Component 6.1 3.1 +96.8%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment Net Prior Service Cost Credit · Reclassification Out Of Accumulated Other Comprehensive Income -0.1
Accumulated Defined Benefit Plans Adjustment Net Unamortized Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income 0.9 1.2 -25.0%
Interest Income Expense Net 96 108.2 -11.3%
Show Equity Components breakouts
Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income 0.6 0.6 0.0%
Income Loss From Equity Method Investments 32.2 48.5 -33.6%
Show Equity Components breakouts
Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income -0.8 -1.2 +33.3%
Income Before Taxes -655.3 346 -289.4%
Income Tax Expense (Benefit) 8.3 61.5 -86.5%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income 0.3 0.4 -25.0%
Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income 0.4 0.4 0.0%
Net Income -663.6 284.5 -333.3%
Net Income -663.6 284.5 -333.3%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income -0.7 -0.8 +12.5%
Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income -1 -1.4 +28.6%
Retained Earnings -663.6 284.5 -333.3%
EPS (Basic) -1.39 0.6 -331.7%
EPS (Diluted) -1.39 0.59 -335.6%
General & Administrative (Q)
Show Consolidation Items breakouts
Corporate Non Segment 58.4 69.9 -16.5%
Interest Income -3.8 -0.6 -533.3%
Comprehensive Income -670.8 263.3 -354.8%
Wtd Avg Shares (Basic) 479 478 +0.2%
Wtd Avg Shares (Diluted) 479 479.3 -0.1%
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments (Q)
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income -1 -1.2 +16.7%
Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income -1.4 -1.8 +22.2%
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax -0.6 0.4 -250.0%

Balance Sheet

Balance Sheet
Metric Q2 2026 Q2 2025 YoY
Current Assets
Cash & Cash Equivalents 46.6 37.4 +24.6%
Receivables Net Current 835.5 856.9 -2.5%
Inventory 2,199.8 2,180.8 +0.9%
Prepaid Expenses & Other Current Assets 144.4 130.3 +10.8%
Total Current Assets 3,226.3 3,205.4 +0.7%
Non-Current Assets
Goodwill 9,729.4
Show Business Segments breakouts
Food service 720.1
Grocery & Snacks 4,663.1
International 200.9
Refrigerated & Frozen 4,145.3
Other Non-Current Assets 1,576.2 1,490.2 +5.8%
Disposal Group Including Discontinued Operation Assets Noncurrent 4.4 21.2 -79.2%
Show Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations breakouts
Refrigerated & Frozen 4.4
Total Assets 19,540.3 21,018.1 -7.0%
Other Assets
Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization 6,656.9 6,614.3 +0.6%
Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization -3,855.2 -3,794 -1.6%
Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization 2,801.7 2,820.3 -0.7%
Intangible Assets Net Excluding Goodwill 2,202.3 2,723.7 -19.1%
Current Liabilities
Long Term Debt And Capital Lease Obligations Current 776.9 1,031.1 -24.7%
Accounts Payable 1,526.9 1,571.7 -2.9%
Employee Related Liabilities Current 128.5 125.6 +2.3%
Other Accrued Liabilities Current 799.4 636.6 +25.6%
Total Current Liabilities 3,619.7 4,559.7 -20.6%
Non-Current Liabilities
Deferred Tax Liabilities 784
Other Non-Current Liabilities 586.8 1,419.9 -58.7%
Total Liabilities 11,449.5 12,217.4 -6.3%
Long-Term Debt 7.24 7.27 -0.4%
Other Liabilities
Short Term Borrowings 388 1,194.7 -67.5%
Show Debt Instrument breakouts
Supplier Financing Arrangements 40.5 47.5 -14.7%
Show Short Term Debt Type breakouts
Commercial Paper 348 849 -59.0%
Senior Long Term Notes 6,459 6,237.8 +3.5%
Stockholders' Equity
Common Stock 2,921.2 2,921.2 0.0%
Additional Paid-In Capital 2,300.5 2,337.5 -1.6%
Retained Earnings 5,924.3 6,692 -11.5%
Accumulated Other Comprehensive Income 9.5
Treasury Stock Common Value -3,064.7 -3,112.7 +1.5%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 8,090.8 8,800.7 -8.1%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment 59.1
Accumulated Gain Loss Net Cash Flow Hedge Parent 20
Accumulated Gain Loss Net Cash Flow Hedge Parent · Cash Flow Hedge Pinnacle 24
Accumulated Other Comprehensive Income 9.5 -37.3 +125.5%
Accumulated Translation Adjustment -69.6
Additional Paid In Capital 2,300.5 2,337.5 -1.6%
Common Stock 2,921.2 2,921.2 0.0%
Retained Earnings 5,924.3 6,692 -11.5%
Treasury Stock Common -3,064.7 -3,112.7 +1.5%
Total Liabilities & Equity 19,540.3 21,018.1 -7.0%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q2 2026 YTD Q2 2025 YoY
Operating Activities
Depreciation & Amortization 192.3 196.6 -2.2%
Show Business Segments breakouts
Food service · Operating Segments 22.9 22.2 +3.2%
Grocery & Snacks · Operating Segments 72.8 76.7 -5.1%
International · Operating Segments 7.1 7.5 -5.3%
Refrigerated & Frozen · Operating Segments 81.8 83.1 -1.6%
Show Consolidation Items breakouts
Corporate Non Segment 7.7 7.1 +8.5%
Operating Segments 184.6 189.5 -2.6%
Asset Impairment Charges 975 87.6 +1013.0%
Income Loss From Equity Method Investments Net Of Dividends Or Distributions -3.3 -28.9 +88.6%
Stock-Based Compensation 33.1 29.8 +11.1%
Pension Contributions -5.3 -5.9 +10.2%
Pension Expense Reversal Of Expense Noncash -7.9 -1.5 -426.7%
Other Operating Activities Cash Flow Statement -16.3 -0.2 -8050.0%
Change in Accounts Receivable -137.5 15.4 -992.9%
Change in Inventory -149.5 -73.8 -102.6%
Increase Decrease In Deferred Income Taxes And Income Taxes Payable Net 27 -206.4 +113.1%
Change in Prepaid & Other Assets -58 -40.4 -43.6%
Increase Decrease In Accounts Payable Trade 6.9 97.3 -92.9%
Increase Decrease In Employee Related Liabilities -14.9 -66.2 +77.5%
Increase Decrease In Other Accrued Liabilities 67.6 15.4 +339.0%
Increase Decrease Related To Litigation Receivable 75.5 5.7 +1224.6%
Increase Decrease In Litigation Accruals -112.2 -24 -367.5%
Net Cash from Operations 331.2 754.2 -56.1%
Investing Activities
Capital Expenditures -218.6 -215.4 -1.5%
Proceeds From Sale Of Property Plant And Equipment 37.8 2.7 +1300.0%
Proceeds From Sale Of Property Plant And Equipment (Q)
Show Disposal Group Classification breakouts
Disposal Group Disposed Of By Sale Not Discontinued Operations · Refrigerated & Frozen 26.5
Proceeds From Divestiture Of Businesses Net Of Cash Divested 648.9 76.8 +744.9%
Other Investing Activities -0.9 0.5 -280.0%
Net Cash from Investing 467.2 -366 +227.7%
Financing Activities
Proceeds From Short Term Debt Maturing In More Than Three Months 62.1 70.6 -12.0%
Repayments Of Short Term Debt Maturing In More Than Three Months -567.5 -66.3 -756.0%
Proceeds From Repayments Of Other Short Term Debt 88.7 260.1 -65.9%
Proceeds From Issuance Of Other Long Term Debt 1,000
Repayments Of Long Term Debt -1,022.3 -270.2 -278.3%
Repayments Of Long Term Debt (Q)
Show Debt Instrument breakouts
November 1, 2025 · Unsecured Debt -1
Payments Of Financing Costs -11.7
Share Repurchases -15.3 -64 +76.1%
Payments Of Dividends -334.8 -335.1 +0.1%
Exercise Of Stock Options And Issuance Of Other Stock Awards Including Tax Withholdings -18.9 -20.1 +6.0%
Proceeds From Payments For Other Financing Activities -0.2 -0.2 0.0%
Net Cash from Financing -819.9 -425.2 -92.8%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations 0.1 -4.6 +102.2%
Net Change in Cash -21.4 -41.6 +48.6%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Continuing Operations -21.4 -40.3 +46.9%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations 46.6 37.4 +24.6%

Values in millions USD. Source: SEC EDGAR 10-Q filing.

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