CONAGRA BRANDS INC. Earnings Per Share Disclosure
10. EARNINGS PER SHARE
Basic earnings per share is calculated on the basis of weighted average outstanding shares of common stock. Diluted earnings per share is computed on the basis of basic weighted average outstanding shares of common stock adjusted for the dilutive effect of stock options, restricted stock unit awards, and other dilutive securities.
The following table reconciles the income and average share amounts used to compute both basic and diluted earnings per share:
| 2025 |
| 2024 |
| 2023 | ||||
Net income attributable to Conagra Brands, Inc. common stockholders: | $ | 1,152.4 | $ | 347.2 | $ | 683.6 | |||
Weighted average shares outstanding: | |||||||||
Basic weighted average shares outstanding | 478.3 | 478.6 | 478.9 | ||||||
Add: Dilutive effect of stock options, restricted stock unit awards, and other dilutive securities | 1.4 | 1.4 | 1.8 | ||||||
Diluted weighted average shares outstanding | 479.7 | 480.0 | 480.7 | ||||||
For fiscal 2025, 2024, and 2023, there were 1.4 million, 1.2 million, and 0.5 million stock options outstanding, respectively, that were excluded from the computation of diluted weighted average shares because the effect was antidilutive.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Jul 10, 2025 | Showing above |
| 2020 | Jul 24, 2020 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.