Conagra Brands continues to pursue 'modernizing', 'synergistic' acquisitions
Says continues to make "solid progress" on transformation plan. Says making investments to drive brand saliency, enhanced distribution and consumer trial of new innovation have intended. Expects topline trend to continue in Q4. Says categories continue to grow and company is growing share. Says experienced continued growth in refrigerated and frozen segments. Says sees substantial growth for frozen meals ahead. Says has ample opportunity to capture fair share of shelf space, expects it to be a tailwind for Frozen going forward. Says improvement in Grocery & Snacks is "encouraging", pleased with consumption trends. Expects to accelerate Grocery & Snacks innovation in 2019. Says remains focused on Grocery brands. Says focused on making investments for consumer engagement. Says looking to exit lower-margin businesses.Says M&A continues to be central to strategy. Says continuing to pursue modernizing acquisitions, synergistic acquisitions and divestitures. Continues to see operating margin expansion. Comments taken from Q3 earnings conference call.