ConAgra Brands, Inc. (CAG) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

year 2026 earnings Q&A call. All participants will be in listen only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. To ask a question, you may press star then one on a touch tone phone. To withdraw the question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Matt Nicias. Please go ahead. Good morning, everyone, and thank you for joining us. Once again, I'm joined this morning by Sean Connolly, our CEO, and Dave Marburger, our CFO. We may be making some forward-looking statements and discussing non-GAAP financial measures during this Q&A session. Please see our earnings release, prepared remarks, presentation materials, and filings with the SEC in the investor relations section of our website for descriptions of our risk factors, GAAP to non-GAAP reconciliations, and information on our comparability items. I'll now ask the operator to introduce Our first question is from Andrew Lazar with Barclays. Please go ahead. Great, thanks so much. Happy holidays, everybody. Morning, Andrew. Morning. Sean, maybe to start off, you've mentioned in the prepared remarks that you're seeing some of the delayed shipments materialize in December. On top of this... Yeah, good question. I saw that regarding cost of volume, we have not seen what you just described. We built our plan... to invest margin for continued upward volume inflection in frozen and snacks. And coming into the year when we built the plan, we fully understood the cost of that inflection from last year when we strung together six straight quarters of consistent volume progress prior to running into those temporary supply constraints in frozen that we've talked about previously. So wh...