CAG · 10-K · 2026A · Full report

Equity Method Investment Earnings

CONAGRA BRANDS INC. · 2026-07-15 · Importance 47 · Surprise 48 · Matches filing data

The Company's share of earnings from equity method investments, primarily the Ardent Mills joint venture, decreased to $140.7 million in fiscal 2026 from $182.4 million in fiscal 2025, a decline of $41.7 million (about 23%). The fiscal 2026 decrease reflected lower commodity trading revenue at Ardent Mills, reducing consolidated earnings contribution from that affiliate. Results included net charges of $9.6 million in fiscal 2026 (and $7.2 million in fiscal 2025) primarily related to Ardent Mills restructuring activities. Ardent Mills remains the Company's most significant equity-method affiliate and a material contributor to consolidated earnings.

Key facts

• Equity method investment earnings were $140.7 million for fiscal 2026 and $182.4 million for fiscal 2025; included net charges of $9.6 million and $7.2 million primarily related to Ardent Mills restructuring activities. source
• Charges of $7.5 million ($5.7 million after-tax) related to restructuring activities of the Ardent Mills joint venture. source

Impact estimates