Short answer
Conagra Brands (CAG) filed its fiscal 2026 10-K annual report with the SEC on Jul 15, 2026. It reported revenue of $11.3B (−2.9% year over year) and net income of −$1.9B.
- Top risk flagged: FDA directive to phase out petroleum-based synthetic dyes in food, plus new state ingredient and labeling laws, may raise reformulation and compliance costs
FY2026 key financial metrics · XBRL
- Revenue
- $11.3B
- −2.9% YoY
- Net income
- −$1.9B
- −266.3% YoY
- Operating margin
- -14.4%
- −26.2 pp YoY
- Gross margin
- 23.9%
- −1.9 pp YoY
- EPS (diluted)
- −$4.00
- −266.7% YoY
- ROE
- -30.1%
- −43.0 pp YoY
- Operating cash flow
- $1.4B
- −17.1% YoY
Source: XBRL data from the Conagra Brands (CAG) FY2026 10-K on SEC EDGAR. USD.
Conagra Brands FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: branded consumer packaged foods with retail and foodservice focus across Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments
- New leadership: John P. Brase appointed CEO in June 2026, bringing CPG experience from J.M. Smucker and Procter & Gamble
- Strategic emphasis: accelerated enterprise-wide supply chain transformation under new EVP & Chief Transformation Officer Alexandre O. Eboli, leveraging AI and digital technologies
- Workforce size: approximately 17,400 employees as of May 31, 2026, with 48% unionized, maintaining stable employee relations
- OSHA incident rate improved to 1.24 per 100 full-time workers in fiscal 2026, below food manufacturing sector average and down from 1.32 in 2025
Management Discussion & Analysis
- Revenue $11.28B, down 2.9% YoY; Grocery & Snacks $4.61B (-5.9%), Refrigerated & Frozen $4.64B (-0.4%), International $913.9M (-4.4%), Foodservice $1.12B (+1.9%)
- Segment operating profit declines: Refrigerated & Frozen worst at $485.6M (-25.5%), Grocery & Snacks $885.0M (-13.0%), Foodservice $114.3M (-12.8%), International best at $134.4M (-6.7%)
- Operating margin approx. 19.7% in Grocery & Snacks ($885M/$4.61B) vs lower due to input cost inflation and operating leverage; overall diluted loss per share $(4.00) vs EPS $2.40 prior year
- Cash flow: Operating cash flow $1.40B down from $1.69B; Investing cash inflow $262.6M vs outflow $542.2M; Financing cash outflow $1.52B vs $1.16B, including $669.7M dividends and $15.0M repurchases
- Fiscal 2027 outlook notes possible price increases due to input cost inflation, consumer price sensitivity may impact volumes; capital expenditures ~$550M planned; risks include inflation, supply chain, geopolitical issues, and evolving consumer preferences
Risk Factors
- FDA directive to phase out petroleum-based synthetic dyes in food, plus new state ingredient and labeling laws, may raise reformulation and compliance costs
- Geopolitical exposure to Russia-Ukraine conflict and Middle East tensions causing ingredient shortages, tariffs, and supply chain volatility despite no direct operations there
- Supply chain disruptions from labor shortages, transportation issues, and dependence on contract manufacturers may constrain production and sales volumes
- Competition intensifies from private label products and e-commerce entrants, with Walmart accounting for 29% of sales, increasing pricing pressure
- High leverage with $7.27B debt and $762.5M due Oct 2026 could restrict liquidity, refinancing ability, and limit capital for growth or dividends
Generated from the filing text; verify against the original. How to read a 10-K
Other Conagra Brands annual reports
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.