Conagra Brands expects to see new products hit market in early 2018
Conagra management said the company intends to grow but will do so in a way that is profitable and in the best interest of shareholders. The company will be lapping last year's pricing action in 2017. Conagra CFO Dave Marberger said the weakening Peso led to a write-down of the company's Mexican business. Marberger said the company increased advertising spending in Q2. Overall, the company is fundamentally on track to rebuild volume base. Management said that last year's avian flu event didn't have a material impact on Egg Beaters; however, issues with Nitrous Oxide gas supply affected Reddi Wip product. Sales guidance is really a "tagger" to get the company through 2020. Management feels good about the EPS and sales guidance provided. Comments provided during Q2 earnings conference call.