conagra brands inc cag stock fell 43 in thursday premarket trading after it gave profit guidance below street expectations the food company posted net income totaling 2184 million or 45 cents per share down from 2814 million or 58 cents per share last year adjusted eps of 58 cents was in line with the factset consensus sales of 2914 billion were up from 2771 billion last year and ahead of the factset consensus for 2846 billion we experienced higherthanexpected cost pressures as the third quarter progressed and expect those pressures to continue into the fourth quarter particularly in certain frozen refrigerated and snacks businesses said chief executive sean connolly in a statement in response we have taken steps to implement additional inflationdriven pricing actions we will begin to see the benefits of these actions in the first quarter of fiscal 2023 for the fourth quarter conagra is guiding for organic net sales growth of 7 and adjusted eps of 64 cents the factset consensus is for sales of 2901 billion implying growth of 59 and eps of 70 cents for fiscal 2022 conagra is guiding for organic net sales growth of 4 up from previous guidance for 3 and adjusted eps of 235 down from previous guidance for about 250 the factset consensus is for sales of 11444 billion suggesting growth of 23 and eps of 242 conagras brand lineup includes marie callenders slim jim healthy choice and earth balance conagra shares are down 78 over the past year while the sp 500 index spx has gained 98