[1/2] Slim Jim products, owned by Conagra Brands, are seen for sale in a store in Manhattan, New York, U.S., November 15, 2021.
Shares of the Chicago-based packaged food maker fell 1.4% to $26.15 premarket on Thursday as Conagra missed quarterly sales estimates and also maintained tepid targets for annual sales and profit.
Peer General Mills (GIS.N) in September also narrowly topped profit estimates on higher prices, but the Cheerios cereal maker's volumes took a hit as consumers turned cautious.
Campbell Soup (CPB.N) forecast an upbeat annual profit as the company bets on easing cost pressures.
Conagra reported first-quarter net sales of $2.90 billion, while analysts on average expected $2.95 billion, according to LSEG data.
Persons:
Slim Jim, Andrew Kelly, Slim, Conagra, Mills, Campbell, Granth, Sherry Jacob, Phillips
Organizations:
Conagra Brands, REUTERS, Conagra, Thomson
Locations:
Manhattan , New York, U.S, Chicago, Bengaluru