Short answer
Conagra Brands (CAG) filed its Q4 2025 10-Q quarterly report on Dec 19, 2025 for the quarter ended Nov 23, 2025. Quarterly revenue was $3.0B (down 6.8% year over year) with net income of −$664M.
Q4 2025 key financials · XBRL
- Revenue
- $3.0B
- −6.8% YoY · +13.2% QoQ
- Net income
- −$664M
- −333.3% YoY · −503.4% QoQ
- Operating margin
- -20.1%
- Gross margin
- 23.4%
- EPS (diluted)
- −$1.38
- −330.0% YoY · −505.9% QoQ
Source: XBRL data from the Conagra Brands (CAG) Q4 2025 10-Q on SEC EDGAR. USD.
Conagra Brands Q4 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Quarterly revenue $2,979.1M, down 6.8% YoY from $3,195.1M; Grocery & Snacks down 8.5% to $1,209.1M, Foodservice down 1.3% to $288.4M
- Operating profit margin decline: Grocery & Snacks $231.2M (-21.8%), Refrigerated & Frozen $127.5M (-35.6%), total segment decline across all segments
- Best performer Foodservice segment revenue down only 1.3%, worst performer Refrigerated & Frozen segment operating profit down 35.6%
- Cash flow: Operating cash flow $331.2M H1 FY26 vs $754.2M H1 FY25; financing cash outflow $819.9M due to debt repayments and dividends
- Management expects continued input cost inflation, tariffs, and weak consumer sentiment to weigh on volumes and costs in FY26; ongoing focus on productivity and pricing
Risk Factors
- New risk: Significant goodwill impairment $771.3M in Refrigerated & Frozen segment triggered by sustained market cap decline and lowered sales projections
- Updated legal risk: Cooking spray product liability settlements totaling $96.7M paid with additional $88.7M expected through early fiscal 2027
- Regulatory/compliance risk: Impact of "One Big Beautiful Bill Act" from July 2025 for accelerated tax deductions, with limited effect on effective tax rate
- Operational risk: Divestitures of Chef Boyardee and Frozen Fish businesses generating $607M and $41.9M proceeds, affecting segment composition and near-term focus
- Financial risk: Recent debt refinancing included $1B senior notes issuance and full repayment of $1B 4.60% notes, maintaining compliance with debt covenants (EBITDA/interest ≥3.0x)
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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