CONAGRA BRANDS $CAG Q1’27 EARNINGS HIGHLIGHTS 🔹 Revenue: $2.6B (Est. $2.59B) 🟢; -1.4% YoY 🔹 Organic Net Sales: -1.1% 🔹 Adj. EPS: $0.41 (Est. $0.28) 🟢; +5.1% YoY 🔹 Adj. Operating Margin: 11.5% 🔹 Adj. Oper Profit: $297.9M (Est. $235M) 🟢; -4.1% YoY 🔹 Adj. EBITDA: $451.4M (Est. $352M) 🟢; +2.4% YoY Affirms FY27 Guide: 🔹 Adj. EPS: $1.40-$1.50 (Est. $1.44) 🟡 🔹 Organic Net Sales: -3% to -1% YoY 🔹 Adj. Operating Margin: 10.0% to 10.5% 🔹 FCF Conversion: >90% 🔹 Net Leverage: ~4.0x Segment Net Sales: 🔹 Grocery & Snacks: $1.1B; -2.6% YoY 🔹 Refrigerated & Frozen: $1.1B; -2.1% YoY 🔹 International: $218.1M; +2.7% YoY 🔹 Foodservice: $272.9M; +3.2% YoY Key Updates: 🔹 Net Debt: $7.4B; -2.5% YoY 🔹 Dividend: $0.35/share Comments: 🔸 “While there is more work to be done, we remain on track to deliver the year and are reaffirming our fiscal 2027 guidance.”