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Conagra Brands, Inc.
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2019 Vault Rankings

At a Glance

Uppers

Good job security, benefits and pay.

High quality of life

Downers

Long hours for some salaried workers and irregular hours for some blue-collar workers.

Employees do not get a lot of pats on the back

The Bottom Line

Big Food employers don't come much more highly rated than ConAgra: the firm is noted for providing an excellent quality of life for employees.

About Conagra Brands, Inc.

ConAgra Foods fills the refrigerators, freezers, and pantries of most households. The company makes and markets name-brand packaged and frozen foods that are sold widely across the US, including in Wal-Mart stores. ConAgra's cornucopia of America's best-known brands includes Banquet, Birds Eye, Slim Jim, Reddi-wip, Vlasic, Angie's BOOMCHICKAPOP, Duke's, Earth Balance, Gardein, Frontera, Healthy Choice, and Marie Callender. More than 40 domestic manufacturing facilities located in Arkansas, California, Colorado, Illinois, Indiana, Iowa, Kentucky, Maryland, Michigan, Minnesota, Missouri, Nebraska, Nevada, Ohio, Pennsylvania, Tennessee, Washington, and Wisconsin. ConAgra began as a flour-milling company in Nebraska in 1919 and over the decades transformed into a consumer goods company.

Operations

ConAgra has four reportable segments: Grocery & Snacks, Refrigerated & Frozen, International and Foodservice.

Grocery & Snacks accounts for more than 401% of ConAgra's sales and comprises the shelf stable food products sold in various retail channels across the US.

The Refrigerated & Frozen segment generates over 40% of sales and includes ConAgra's temperature-controlled food operations.

The International segment (about 10% of sales) consists of food manufacture outside the US, of various temperature states and retail channels.

Foodservice (nearly 10% of sales) provides restaurants and other foodservice establishments with branded and customized food products, such as meals, entrees, sauces and a variety of custom-manufactured culinary products.

Geographic Reach

Chicago-based ConAgra operates more than 40 domestic manufacturing facilities located in the Arkansas, California, Colorado, Illinois, Indiana, Iowa, Kentucky, Maryland, Michigan, Minnesota, Missouri, Nebraska, Nevada, Ohio, Pennsylvania, Tennessee, Washington, and Wisconsin. They also have international manufacturing facilities in Canada and Mexico, and interests in ownership of international manufacturing facilities in India, Bangladesh, Sri Lanka, and Mexico.

Other general offices, shared service centers, and product development facilities are located in Nebraska and the District of Columbia. They also lease a limited number of domestic sales offices. International general offices are located in Canada, China, Mexico, Panama, and the Philippines.

Sales and Marketing

Wal-Mart, ConAgra's largest customer, accounts for over a quarter of sales.

Advertising costs are expensed as incurred. Advertising and promotion expenses totaled $230.7 million, $253.4 million, and $278.6 million in fiscal 2020, 2019, and 2018, respectively.

Financial Performance

Except in 2017, when it took a dip, Conagra's revenue has been rising for the last five years. On the other hand, its revenue has been fluctuating in the same period.

Overall, Conagra's net sales were $11.05 billion in fiscal 2020, an increase of 16% compared to fiscal 2019. This was primarily due to the increase of $824.2 million, or 22%, compared to fiscal 2019 in the Refrigerated & Frozen net sales.

Net income attributable to Conagra Brands, Inc. was $840.1 million in 2020, compared to $678.3 million in 2019.

Conagra's cash on hand grew $316.7 million during 2020, ending the year at $554.3 million. The company's operations generated $1.8 billion. Its financing activities used $1.4 billion, and investing activities used $153.8 million.

Strategy

In fiscal 2019, Conagra announced a restructuring and integration plan related to the ongoing integration of Pinnacle for the purpose of achieving significant cost synergies (the "Pinnacle Integration Restructuring Plan"). The company expects to incur material charges for exit and disposal activities under U.S. generally accepted accounting principles.

The successful design and implementation of the Pinnacle Integration Restructuring Plan presents significant organizational design and infrastructure challenges. In many cases, it will require successful negotiations with third parties, including labor organizations, suppliers, business partners, and other stakeholders. In addition, the Pinnacle Integration Restructuring Plan may not advance our business strategy as expected. Events and circumstances, such as financial or strategic difficulties, delays, and unexpected costs may occur that could result in our not realizing all or any of the anticipated benefits or our not realizing the anticipated benefits on our expected timetable. If we are unable to realize the anticipated savings and cost synergies of the Pinnacle Integration Restructuring Plan, our ability to fund other initiatives may be adversely affected. Any failure to implement the Pinnacle Integration Restructuring Plan in accordance with our expectations could adversely affect our financial condition, results of operations, and cash flows.

In addition, the complexity of the Pinnacle Integration Restructuring Plan will require a substantial amount of management and operational resources. The company's management team must successfully implement administrative and operational changes necessary to achieve the anticipated benefits of the Pinnacle Integration Restructuring Plan. These and related demands on its resources may divert the organization's attention from existing core businesses, integrating financial or other systems, have adverse effects on existing business relationships with suppliers and customers, and impact employee morale. As a result, our financial condition, results of operations, and cash flows could be adversely affected.

Conagra Brands, Inc.

222 Mdse Mart Plz Ste 1
Chicago, IL 60654-1103
Phone: 1 (312) 549-5000

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: CAG
Stock Exchange: , NYSE
CEO: Sean M. Connolly
EVP and CFO: John F. Gehring
Chairman: Steven F. Goldstone
Employees (This Location): 250
Employees (All Locations): 16,500

Major Office Locations

Chicago, IL

Other Locations

Rogers, AR
Russellville, AR
Tolleson, AZ
Fresno, CA
Oakdale, CA
Oakland, CA
San Diego, CA
Washington, DC
Elkton, FL
Forest Park, GA
Macon, GA
Sylvester, GA
Council Bluffs, IA
Hamburg, IA
Lake View, IA
Waterloo, IA
Eagle, ID
Carol Stream, IL
Chicago, IL
Naperville, IL
Brookston, IN
Indianapolis, IN
Rensselaer, IN
Overland Park, KS
Louisville, KY
Quincy, MI
Lakeville, MN
Mankato, MN
Maple Grove, MN
Minneapolis, MN
New Prague, MN
Park Rapids, MN
Shakopee, MN
Macon, MO
Marshall, MO
Trenton, MO
Charlotte, NC
Lincoln, NE
Omaha, NE
Sparks, NV
Archbold, OH
Mason, OH
Morral, OH
Troy, OH
Boardman, OR
Milton, PA
York, PA
Columbia, SC
Dickson, TN
Humboldt, TN
Memphis, TN
Newport, TN
Vonore, TN
Carrollton, TX
Fort Worth, TX
Saginaw, TX
San Antonio, TX
Hyrum, UT
Ogden, UT
Kennewick, WA
Kent, WA
Pasco, WA
Quincy, WA
Richland, WA
Menomonie, WI
Milwaukee, WI
Dresden, Canada
Kitchener, Canada