CHICAGO, ILLINOIS, US — Profitability remained under pressure at Ardent Mills LLC in the second quarter of fiscal 2025, according to a filing by Conagra Brands, Inc. with the Securities and Exchange Commission.
Conagra equity method investment earnings were $48.5 million in the second quarter ended Nov. 24, 2024, down 11% from $54.3 million in the same period the year before. On a year-to-date basis, Conagra’s equity method earnings were $77.6 million, down 14% from $89.8 million in the first half of fiscal 2024.
The lower profitability “continued to reflect slightly lower volume trends as seen throughout the industry.”
The $48.5 million in second-quarter equity method earnings compared with $49.3 million in the second quarter of fiscal 2023 and $22.5 million in the second quarter of fiscal 2022.
David S. Marberger, chief financial officer and executive vice president, in comments after Conagra Brands announced financial results, said the company was leaving its full-year guidance for Ardent Mills unchanged, projecting $150 million in equity earnings for the year, down from $177.6 million in fiscal 2024.
Conagra holds a 44% equity stake in Ardent Mills, with Cargill also holding a 44% share and CHS owning the 12% balance.
