Shares of Conagra Brands (CAG) ♐tumbled roughly 10% Wednesday morning after the food maker posted wors✤e-than-expected results as consumers pulled back on spending.

The maker of Slim Jim snacks and Duncan Hines cake mixes reported fiscal 2025 first-quarter adjusted 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $0.53, down nearly 20% year-over-year, with revenue falling 3.8% to $2.79 billion. Both were bel🐈ow consensus forecasts of analysts polled by Visible Alpha.

澳洲幸运5官方开奖结果体彩网:Organic net sales dropped 3.5%, which Conagra attributed to a 1.9% negative impact from price/mix and a 1.6% decrease in volume. In addition, it said tempo🧸rary manufacturing disruptions at its Hebrew National operations during the pea▨k grilling season impacted results by about $27 million.

澳洲幸运5官方开奖结果体彩网:Gross profit declined 10% to $739 million o🧸n "lower organic net salꦯes, cost of goods sold inflation, and unfavorable operating leverage."

CEO Notes Continuing 'Challenging Environment'

澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Sean Connolly said the company faced "what continue𒆙d to be a challenging enviro💟nment."

Along with the slide in sales and adju♒sted profit, expenses soared more than 150% to $92 million, primarily because of increased wages. 

The company affirmed its fiscal 2025 organic net sales outlook in a range of a 1.5% dec🉐rease to flat, and adjusted EPS of $2.60 🦩to $2.65.

Even with today's slide, Conagra Brands shares remain slightly higher year-to-date.