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Conagra Brands Q1 2019 net sales up 1.7%

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Staff Writer |
Conagra Brands
Conagra Brands   The Refrigerated & Frozen segment continued its momentum

Conagra Brands reported results for the first quarter of fiscal year 2019, which ended on August 26, 2018.

In the quarter, net sales grew 1.7%, and organic net sales1 excluding the sale of the Trenton, Missouri production facility (Trenton) grew 1.2%, with growth in all four operating segments.

The Refrigerated & Frozen segment continued its momentum, with 3.2% net sales growth and organic net sales growth of 1.4%. The segment has

elivered organic net sales growth for five consecutive quarters. Grocery & Snacks reported another quarter of organic net sales growth, led by the snacks businesses.

Adjusted operating margin was above the guidance range.

Diluted earnings per share (EPS) from continuing operations increased 25.0% from $0.36 to $0.45 in the quarter, and adjusted diluted EPS from continuing operations grew 2.2% from $0.46 to $0.47, in-line with the Company's previously-provided guidance range.

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