Conagra brands reports q3 earnings per share of $0.42

Conagra brands reports third quarter results.q3 adjusted earnings per share $0.47.q3 earnings per share $0.42 from continuing operations.q3 earnings per share estimate $0.49 -- refinitiv ibes data.q3 sales $2.6 billion versus refinitiv ibes estimate of $2.58 billion.q3 earnings per share $0.42.q3 net sales decreased 5.6%; organic net sales decreased 1.7%.net sales for grocery & snacks segment decreased 9.5% to $1.02 billion in quarter.reduced debt by $450 million in quarter and remained on-track with its de-leveraging target of 3.6x to 3.5x by end of fiscal 2021.impact covid-19 pandemic will have on company's fiscal 2020 consolidated results of operations is uncertain."now believe that we will exceed our fiscal 2020 sales and profit guidance".to-date in q4, company has seen significantly increased demand in its retail business.conagra brands- has also started to see reduced demand for its foodservice products, expects a 50-60% decline in foodservice organic net sales in q4.co's supply chain has effectively serviced demand to-date.sees fy 2020 organic net sales growth above high end of range of prior fiscal 2020 guidance.
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