Conagra swings to $1.9B loss on $2.9B impairments; cuts dividend 50%, slashes buybacks 77%

Filed July 15, 2026 · Period ending May 31, 2026 · Compared to 10-K Jul 10, 2025 · ~2 min read

Key Changes

• high

  $2.38B goodwill impairment in Refrigerated & Frozen plus $547M brand write-downs drove FY26 to a $1.92B net loss vs. $1.15B profit in FY25. Refrigerated & Frozen now the only reporting unit with <10% fair-value cushion ($4.7B carrying value).

  Notes: Goodwill & Intangibles verify on EDGAR →
• high

  Quarterly dividend cut from $0.35 to $0.175 per share (50% reduction) effective Q1 FY27, following year of operating losses and margin pressure. Share repurchases fell 77% to $15.3M vs. $4.00 in FY25.

  MD&A: Capital Allocation verify on EDGAR →
• high

  FY26 revenue declined 2.9% to $11.3B despite a 53rd week; organic sales fell across three of four segments. Tariff-driven tin-plate steel inflation required price increases, with further pricing and volume headwinds expected in FY27.

  MD&A: Revenue & Tariffs verify on EDGAR →