Investor Relations

Our core Meals & Beverages portfolio delivered in-market consumption growth in the second quarter, highlighted by the Rao’s brand surpassing $1 billion in trailing twelve-month net sales. Overall results, however, fell short of our expectations due to weaker-than-expected performance in Snacks and storm related shipment disruptions. To stabilize Snacks, we are taking decisive action, focused on sharpening our value, new product innovation and in market execution. We are also accelerating cost saving initiatives to mitigate cost headwinds and support continued investment in our brands. Given our first half results and the current operating environment, we are lowering our full-year outlook to reflect a more cautious view for the balance of the year. At the same time, our brand portfolio fundamentals remain sound, and we continue to be confident in our ability to create sustainable profitable growth over the long-term.