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Conagra earnings rise as Ardent Mills profits jump in fiscal Q1

Equity method investment earnings from Conagra’s Ardent Mills stake jumped 72% to $50.4 million in the quarter ended Aug. 24.

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Conagra Brands reported stronger earnings in its fiscal 2027 first quarter, with World Grain citing gains tied to its Ardent Mills joint venture as wheat price volatility created shifting market conditions. The company said equity method investment earnings, which largely reflect its Ardent Mills stake, rose 72% to $50.4 million for the quarter ended Aug. 24, from $29.4 million a year earlier.

World Grain also noted that the higher earnings from Ardent Mills outweighed a 4.1% dip in Conagra’s adjusted operating profit during the quarter. Conagra said Ardent Mills provided a 3-cent per share lift that helped drive adjusted earnings per share to 41 cents.

Conagra attributed the quarter’s results to favorable market conditions and effective management through recent wheat market volatility, according to World Grain. The outlet added that Conagra and Cargill each hold 44% of Ardent Mills, with CHS owning the remaining 12%, and described Ardent Mills as North America’s largest milling company.

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