Conagra Brands Inc. (NYSE:CAG) on Wednesday reported mixed third-quarter results and issued a cautious outlook.

Conagra reported adjusted earnings of 39 cents per share, missing the analyst consensus estimate of 40 cents. Sales totaled $2.79 billion, down 1.9% from a year earlier, but ahead of expectations of $2.76 billion.

Conagra narrowed its fiscal 2026 adjusted earnings guidance to about $1.70 per share, slightly below the analyst estimate of $1.72. The company expects adjusted operating margin to land near the high end of its 11.0% to 11.5% range.

Sean Connolly, president and chief executive officer of Conagra Brands, said, “I am pleased with our third quarter performance as we returned the business to organic net sales growth, reflecting continued upward inflection in our Frozen and Snacks businesses while remaining on track in our cash businesses. In today’s evolving environment, our portfolio of iconic ...