The news: Conagra Brands missed Q1 earnings and revenue expectations amid a challenging environment for consumer packaged goods (CPG) companies.

• Net sales fell 3.8% year over year (YoY) to $2.79 billion, falling short of the consensus estimate for $2.84 billion.
• Organic net sales declined 3.5 YoY, due to a 1.9% drop in prices and a 1.6% fall in volumes.