BUZZ - Conagra shares fall after maintaining its annual performance forecast

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September 30 - ** Packaged food company Conagra Brands (CAG.N) shares fell about 3% in pre-market trading to $13.75

** The company maintained (link) its forecast for full-year organic net sales to decline by 1% to 3%, and adjusted earnings per share to be between $1.40 and $1.50

** Reported first-quarter net sales of $2.6 billion, slightly above analysts’ estimates of $2.59 billion; adjusted earnings per share were $0.41, exceeding the market’s expectation of $0.28 — data compiled by LSEG

** The report showed that revenue in its grocery and snacks segment fell 2.6% year-on-year, compared with a decline of 8.7% a year earlier

** CEO John Brase noted that the current operating environment is challenging, and said “there is still more work to be done”

** As of the close of the previous trading day, the company’s share price had fallen about 18% year-to-date

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