Conagra Brands, Inc. reaffirmed earnings guidance for the fiscal year 2022. The company increasing the company's organic net sales guidance based on stronger-than-expected consumer demand and lower-than-anticipated elasticities. The company also updating the company's margin guidance given the increase in the company's gross inflation expectations for the year and the timing of the related pricing actions.

Taken together, the company continue to believe that elevated consumer demand, coupled with additional pricing and cost savings actions, will enable the company to deliver adjusted diluted EPS of about $2.50. The company increasing organic net sales guidance to be approximately plus 3%, up from approximately 1%.