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Red Flags Detected

  • Goodwill Impairment (unchanged) — FY2026 recorded $2.38B goodwill impairment in Refrigerated & Frozen reporting unit, the second such charge in three years (FY2024 had $526.5M). Remaining R&F goodwill ($4.7B) is the only unit with ≤10% fair-value cushion, flagging continued impairment risk.
  • Asset Impairment (worsened) — Brand impairments surged from $4.00 in FY2025 to $2.40 in FY2026, primarily in Refrigerated & Frozen ($330.5M, up 5.5x) and Grocery & Snacks ($216.7M, up 18x). Reflects persistent brand-value erosion across both segments.
NYSE: CAG CONAGRA BRANDS INC. 10-K

revenue $11.3B, net income -$1.92B. Conagra swings to loss/share on impairments; cuts dividend 50%; CEO transition

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

Key Changes

  • high

    FY2026 recorded $2.38B goodwill impairment in Refrigerated & Frozen and $547M brand impairments (vs. $72M prior year), driving a swing from $2.40 earnings to $4.00 loss per share. Remaining R&F goodwill ($4.7B) is the only unit with ≤10% cushion.

    MD&A: Impairments / Notes: Goodwill verify on EDGAR →
  • high

    Quarterly dividend cut 50% from $0.35 to $0.175/share (announced July 2026), the first reduction disclosed following the FY2026 loss and impairment charges.

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

    John Brase replaced Sean Connolly as CEO effective June 1, 2026, joining from J.M. Smucker after 30 years at Procter & Gamble. Headcount fell ~900 (5%) to 17,400 employees.

    Business: Leadership verify on EDGAR →

2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

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View original filing on SEC.gov View full financials on EDGAR ↗

Figures/quotes linked to EDGAR · Narrative written by AI · Jul 19, 2026 · How we verify