Conagra Brands Inc. (NYSE: CAG) shares rose about 2% on Wednesday after the food maker posted first-quarter fiscal 2026 results that exceeded earnings expectations, despite ongoing inflationary pressures and cautious consumer spending.

The Chicago-based company reported adjusted earnings of $0.39 per share for the quarter ended August 24, topping the analyst consensus of $0.33. Revenue was $2.63 billion, narrowly above estimates of $2.62 billion, though down 5.8% from the prior year. Organic net sales slipped 0.6%.

Conagra reaffirmed its fiscal 2026 outlook, projecting organic net sales growth between -1% and +1%, adjusted operating margin of 11.0% to 11.5%, and adjusted EPS between $1.70 and $1.85, in line with the analyst consensus of $1.78.