Market Newsdesk

April 3, 2025 7:38 am

Accuray CyberKnife® Platform Featured in New Studies Showcasing its Benefits in Central Nervous System Tumors Presented at Radiosurgery Society Scientific Meeting

PR Newswire

Data Also Highlights Continued Clinical Advances Using the CyberKnife System That are Making
High Quality Care an Option for People Who Previously Had Limited Choices

MADISON, Wis.
, April 3, 2025 /PRNewswire/ — Accuray Incorporated (NASDAQ: ARAY) announced today that new data on the clinical use of the CyberKnife^® System reinforce the device’s broad-based radiation treatment capabilities for central nervous system (CNS) tumors. Malignant brain and other CNS tumors are considered to be some of the most fatal types of cancer and contribute to significant morbidity and mortality in the United States¹. The studies, involving the delivery of stereotactic radiosurgery (SRS) and stereotactic body radiation therapy (SBRT), were presented at the recent 2025 Radiosurgery Society (RSS) Scientific Meeting in Tucson, Arizona.

SRS and SBRT are non-surgical procedures that deliver precisely targeted doses of radiotherapy, typically in one to five treatment sessions, with the goal of ablating (destroying) the tumor or lesion. To achieve the accuracy and precision required, the CyberKnife System uses image guidance during treatment, and leverages potentially 1,000 different beam angles targeting the tumor as well as Synchrony^® adaptive delivery, which adjusts the aim of the beam in real time to correct for tumor or patient motion.

“The studies presented at this year’s Radiosurgery Society meeting underscore both the long-term efficacy and expanding applications of the CyberKnife System. Whether treating benign tumors like vestibular schwannoma or managing complex conditions such as spinal metastases and trigeminal neuralgia, the common thread is the need for precise, highly targeted radiation delivery — a hallmark of the CyberKnife System. These new data not only reinforce its value in central nervous system treatments but also add to the growing body of evidence supporting its role in improving both the quality and longevity of patients’ lives,” said Seth Blacksburg, M.D., MBA, Chief Medical Officer at Accuray.

RSS CyberKnife System Study Highlights: Advancing and Expanding P
atient Care

25-Year Data Supports the Use of the CyberKnife System to Treat V
estibular Schwannoma (VS)

25-year data were reported for patients in a single institution study retrospectively evaluating SRS for the treatment of VS (also known as acoustic neuroma) using the CyberKnife System. A non-cancerous, usually slow-growing brain tumor, VS can cause hearing loss, ringing in the ear, and dizziness or loss of balance. The study demonstrated treatment with the system provides sustained local tumor control and long-term efficacy. At 25 years, the local control rate was 89.3 percent and overall survival was 97.1 percent ².

Clinical Innovation Facilitates Treatment of Challenging Condition Using the CyberKnife System

A study evaluated the safety and efficacy of donut-shaped circumferential stereotactic body radiation therapy (SBRT) delivered using the CyberKnife System for the treatment of spinal metastases. This treatment technique is designed to target the spinal column while avoiding the spinal cord. High doses of radiation delivered to the spinal cord can result in serious complications, such as radiation myelopathy, causing injury or paralysis. Study investigators concluded, “Donut-shaped circumferential CyberKnife SBRT is a safe and effective treatment for spinal metastases, achieving high local tumor control with minimal radiation-induced complications, including myelopathy ³.”

CyberKnife System Expands Treatment Options for Patients with Painful Neurological Conditions
Trigeminal neuralgia and occipital condyle metastasis are rare conditions often causing excruciating pain that may impact all aspects of patients’ daily life.

A study of elderly patients (aged 80 to 100 years) with trigeminal neuralgia found that radiosurgery delivered using the CyberKnife System provides excellent outcomes. Pain improved or disappeared in 90 percent of those evaluated and only three percent developed paresthesia – a sensation of tingling, “pins and needles” or numbness – considered bothersome. Data indicate radiosurgery provides an option for a patient population that may have limited choices because health issues preclude surgery or they are unresponsive to medication⁴.
An evaluation of SRS for occipital condyle metastasis (OCM) using the CyberKnife System found the treatment offers significant pain relief, excellent local control rates and improvement in neurological symptoms. A 93.8 percent local tumor control rate was achieved over three years. Of patients who reported symptoms, 87.5 percent experienced pain relief. Study authors concluded, “This non-invasive therapy provides a valuable alternative to surgery, potentially enhancing the quality of life for patients with limited treatment options due to this challenging condition⁵.”

About Accuray
Accuray is committed to expanding the powerful potential of radiation therapy to improve as many lives as possible. We invent unique, market-changing solutions designed to deliver radiation treatments for even the most complex cases—while making commonly treatable cases even easier—to meet the full spectrum of patient needs. We are dedicated to continuous innovation in radiation therapy for oncology, neuro-radiosurgery, and beyond, as we partner with clinicians and administrators, empowering them to help patients get back to their lives, faster. Accuray is headquartered in Madison, Wisconsin, with facilities worldwide. To learn more, visit www.accuray.com or follow us on Facebook, LinkedIn, X, and YouTube.

Safe Harbor Statement
Statements made in this press release that are not statements of historical fact are forward-looking statements and are subject to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release relate, but are not limited to, clinical results, patient experiences and patient outcomes. These forward-looking statements involve risks and uncertainties. If any of these risks or uncertainties materialize, or if any of the company’s assumptions prove incorrect, actual results could differ materially from the results expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, the company’s ability to achieve widespread market acceptance of its products; the company’s ability to develop new products or improve existing products to meet customers’ needs; the company’s ability to anticipate or keep pace with changes in the marketplace and the direction of technological innovation and customer demands and such other risks identified under the heading “Risk Factors” in the company’s Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission (the “SEC”) on February 5, 2025, and as updated periodically with the company’s other filings with the SEC.

Forward-looking statements speak only as of the date the statements are made and are based on information available to the company at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. The company assumes no obligation to update forward-looking statements to reflect actual performance or results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. Accordingly, investors should not put undue reliance on any forward-looking statements.

Media Contact:
Beth Kaplan
Public Relations Director, Accuray
+1 (408) 789-4426
[email protected]

¹ Miller KD, Ostrom QT, Kruchko C, Patil N, Tihan T, Cioffi G, Fuchs HE, Waite KA, Jemal A, Siegel RL, Barnholtz-Sloan JS. Brain and other central nervous system tumor statistics, 2021. CA Cancer J Clin. 2021 Sep;71(5):381-406. doi: 10.3322/caac.21693. Epub 2021 Aug 24. PMID: 34427324.
² “Long-Term Outcomes of Vestibular Schwannoma Treated with Stereotactic Radiosurgery: A Retrospective Study from a Single Institution.” 2025 RSS Scientific Meeting.
³ “Efficacy and Safety of Donut-Shaped Circumferential Spine CyberKnife Stereotactic Body Radiotherapy for Metastatic Spine Disease.” 2025 RSS Scientific Meeting.
⁴ “Frameless Radiosurgery Is a Safe and Effective Treatment for Medically-Refractory Trigeminal Neuralgia in Elderly Patients.” 2025 RSS Scientific Meeting.
⁵ “Efficacy and Safety of CyberKnife Stereotactic Radiosurgery for Occipital Condyle Metastasis.” 2025 RSS Scientific Meeting.

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SOURCE Accuray Incorporated

April 3, 2025 7:38 am

Alterity Therapeutics to Deliver an Oral Presentation of the Positive ATH434 Phase 2 Trial Results at the American Academy of Neurology Annual Meeting

MELBOURNE, Australia and SAN FRANCISCO, April 03, 2025 (GLOBE NEWSWIRE) — Alterity Therapeutics (ASX: ATH, NASDAQ: ATHE) (“Alterity” or “the Company”), a biotechnology company dedicated to developing disease modifying treatments for neurodegenerative diseases, today announced that an oral presentation and a poster presentation related to Alterity’s clinical programs in Multiple System Atrophy (MSA) will be delivered at the American Academy of Neurology (AAN) 2025 Annual Meeting taking place April 5 – 9, 2025 in San Diego, CA.

David Stamler, M.D., Chief Executive Officer of Alterity, commented, “We are excited to present the positive topline data along with new analyses from our ATH434-201 clinical trial via an oral presentation at AAN, one of the premier global neurology meetings. In addition, data will be presented on the use of wearable sensor technology to assess patient outcomes, an important component of evaluating novel treatments for individuals with MSA.”

Type:	Oral Presentation
Title:	Topline Data from a Randomized, Double Blind, Placebo Controlled Phase 2 Study of ATH434 in Multiple System Atrophy
Presenter:	Daniel Claassen, M.D., M.S., Professor of Neurology at Vanderbilt University Medical Center
Date/Time:	Wednesday, April 9, 2025 at 2:24 PM PDT (USA)

Type:	Poster Presentation
Title:	Association Between Wearable Sensor Data and Clinical Scores in Individuals with Early-stage Multiple System Atrophy
Presenter:	Ashkan Vaziri, PhD, BioSensics LLC
Date/Time:	Saturday, April 5, 2025 at 11:45 AM PDT (USA)

About ATH434

Alterity’s lead candidate, ATH434, is an oral agent designed to inhibit the aggregation of pathological proteins implicated in neurodegeneration. ATH434 has been shown preclinically to reduce α-synuclein pathology and preserve neuronal function by restoring normal iron balance in the brain. As an iron chaperone, it has excellent potential to treat Parkinson’s disease as well as various Parkinsonian disorders such as Multiple System Atrophy (MSA). ATH434 successfully completed Phase 1 studies demonstrating the agent is well tolerated and achieved brain levels comparable to efficacious levels in animal models of MSA. ATH434 recently announced positive results from the randomized, double-blind, placebo-controlled Phase 2 clinical trial in patients with early-stage MSA. A second Phase 2 open-label 2 Biomarker trial in patients with more advanced MSA is ongoing. ATH434 has been granted Orphan Drug Designation for the treatment of MSA by the U.S. FDA and the European Commission.

About ATH434-201 Phase 2 Clinical Trial

The ATH434-201 Phase 2 clinical trial is a randomized, double-blind, placebo-controlled investigation of 12 months treatment with ATH434 in patients with MSA. The study evaluated the efficacy, safety and pharmacokinetics of ATH434 as well as the effect of ATH434 on neuroimaging and protein biomarkers. Wearable sensors were employed to evaluate motor activities outside of the clinic. The study enrolled 77 adults who were randomly assigned to receive ATH434 50 mg or 75 mg twice daily or matching placebo. The topline data showed that ATH434 produced clinically and statistically significant improvement on the modified UMSARS Part I, a functional rating scale that assesses disability on activities of daily living affected in MSA. In addition to the robust efficacy demonstrated on the UMSARS Part I, trends in improved motor performance were observed on the Parkinson’s Plus rating scale and overall benefit was shown on the Clinical Global Impression of Severity at the 50 mg dose. Wearable sensor data indicated that both dose levels of ATH434 led to increased activity in an outpatient setting as compared to placebo. Biomarkers were used to evaluate potential drug effect and target engagement. Both dose levels reduced iron accumulation in MSA affected brain regions and trends in preservation of brain volume were observed relative to placebo. Additional information on the Phase 2 trial can be found by ClinicalTrials.gov Identifier: NCT05109091.

About Multiple System Atrophy

Multiple System Atrophy (MSA) is a rare, neurodegenerative disease characterized by failure of the autonomic nervous system and impaired movement. The symptoms reflect the progressive loss of function and death of different types of nerve cells in the brain and spinal cord. It is a rapidly progressive disease and causes profound disability. MSA is a Parkinsonian disorder characterized by a variable combination of slowed movement and/or rigidity, autonomic instability that affects involuntary functions such as blood pressure maintenance and bladder control, and impaired balance and/or coordination that predisposes to falls. A pathological hallmark of MSA is the accumulation of the protein α-synuclein within glia, the support cells of the central nervous system, and neuron loss in multiple brain regions. MSA affects at least 15,000 individuals in the U.S., and while some of the symptoms of MSA can be treated with medications, currently there are no drugs that are able to slow disease progression and there is no cure.¹

¹
Multiple System Atrophy | National Institute of Neurological Disorders and Stroke (nih.gov)

About Alterity Therapeutics Limited

Alterity Therapeutics is a clinical stage biotechnology company dedicated to creating an alternate future for people living with neurodegenerative diseases. The Company is initially focused on developing disease modifying therapies in Parkinson’s disease and related disorders. Alterity recently reported positive data for its lead asset, ATH434, in a Phase 2 clinical trial in participants with Multiple System Atrophy (MSA), a rare and rapidly progressive Parkinsonian disorder. ATH434 is also being evaluated in a Phase 2 clinical trial in advanced MSA. In addition, Alterity has a broad drug discovery platform generating patentable chemical compounds to treat the underlying pathology of neurological diseases. The Company is based in Melbourne, Australia, and San Francisco, California, USA. For further information please visit the Company’s website at www.alteritytherapeutics.com .

Authorisation & Additional information
This announcement was authorized by David Stamler, CEO of Alterity Therapeutics Limited.

Investor and Media Contacts:

Australia

Ana Luiza Harrop
[email protected]
+61 452 510 255

U.S.

Remy Bernarda
[email protected]
+1 (415) 203-6386

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of section 27A of the Securities Act of 1933 and section
21E
of
the
Securities
Exchange
Act
of
1934.
The
Company
has
tried
to
identify
such
forward-looking
statements
by
use of such words as “expects,” “intends,” “hopes,” “anticipates,” “believes,” “could,” “may,” “evidences” and “estimates,” and other similar expressions, but these words are not the exclusive means of identifying such
statements.

Important
factors
that
could
cause
actual
results
to
differ
materially
from
those
indicated
by
such
forward-looking
statements are
described
in
the
sections
titled
“Risk
Factors”
in
the
Company’s
filings
with
the
SEC,
including
its
most
recent
Annual
Report on
Form
20-F
as
well
as
reports
on
Form
6-K,
including,
but
not
limited
to
the
following:
statements
relating
to
the
Company’s drug development program, including, but not limited to the initiation, progress and outcomes of clinical trials of the Company’s
drug
development
program,
including,
but
not
limited
to,
ATH434,
and
any
other
statements
that
are
not
historical facts.
Such
statements
involve
risks
and
uncertainties,
including,
but
not
limited
to,
those
risks
and
uncertainties
relating
to
the difficulties
or
delays
in
financing,
development,
testing,
regulatory
approval,
production
and
marketing
of
the
Company’s
drug components,
including,
but
not
limited
to,
ATH434,
the
ability
of
the
Company
to
procure
additional
future
sources
of
financing, unexpected adverse side effects or inadequate therapeutic efficacy of the Company’s drug compounds, including, but not limited
to,
ATH434,
that
could
slow
or prevent products
coming
to
market,
the uncertainty
of obtaining patent protection
for
the
Company’s intellectual
property
or
trade
secrets, the uncertainty of successfully enforcing the Company’s patent rights and the uncertainty of the Company freedom to operate.

Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks
only
as
of
the
date
on
which
it
is
made.
We
undertake
no
obligation
to
publicly
update
any
forward-looking
statement, whether
written
or
oral,
that
may
be
made
from
time
to
time,
whether
as
a
result
of
new
information,
future
developments
or otherwise.

April 3, 2025 7:36 am

V2X Announces Successful Repricing and Extension of Term Loan and Revolver

PR Newswire

RESTON, Va.
, April 3, 2025 /PRNewswire/ — V2X, Inc., (NYSE: VVX), announces it has successfully repriced and extended its $238 million Term Loan A and $500 million Revolving Credit Facility (“Revolver”). As of December 31, 2024, there were no outstanding borrowings on the company’s Revolver.

“I’m pleased to announce further enhancements to our capital structure through a successful repricing and extension of our Term Loan A and Revolver,” said Shawn Mural, Senior Vice President and Chief Financial Officer at V2X.

The amendment includes an updated leverage-based pricing grid, offering over 50 basis points of interest savings compared to the prior grid, as well as an extension of the facility by two years to March 2030.

Mr. Mural continued, “This repricing and extension, which was well oversubscribed, builds on our recent Term Loan B repricing and demonstrates the strength and positioning of our business as well as our ongoing commitment to increasing value for shareholders. I’d like to thank our banking partners for their continued support and confidence in our business.”

Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 (the “Act”): Certain material presented herein includes forward-looking statements intended to qualify for the safe harbor from liability established by the Act. These forward-looking statements include, but are not limited to, all the statements in this release that are not historical, including, without limitation, interest savings, enhancements to our capital structure, and the strength and positioning of our business.

Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “could,” “potential,” “continue,” “can,” “goal,” “long-term,” “drive,” “next,” and variations of such words and or similar expressions and terminology. These statements are based on the beliefs and assumptions of the management of the Company based on information currently available to management.

These forward-looking statements are not guarantees of future performance, conditions, or results, and involve a number of known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside our management’s control, which could cause actual results to differ materially from the results discussed in the forward-looking statements. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the Company’s historical experience and our present expectations or projections. For a discussion of some of the risks and uncertainties that could cause actual results to differ from such forward-looking statements, see the risks and other factors detailed from time to time in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the SEC.

We do not undertake, and expressly disclaim, any duty or obligation to update any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

About V2X
V2X builds innovative solutions that integrate physical and digital environments by aligning people, actions, and technology. V2X is embedded in all elements of a critical mission’s lifecycle to enhance readiness, optimize resource management, and boost security. The company provides innovation spanning national security, defense, civilian, and international markets. With a global team of approximately 16,000 professionals, V2X enables mission success by injecting AI and machine learning capabilities to meet today’s toughest challenges across all operational domains.

Investor Contact

Mike Smith, CFA
Vice President, Treasury, Corporate Development and Investor Relations
[email protected]
719-637-5773

Media Contact

Angelica Spanos Deoudes

Director, Corporate Communications
[email protected]
571-338-5195

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SOURCE V2X, Inc.

April 3, 2025 7:36 am

OSR Holdings, Inc. (NASDAQ: OSRH) Enters Into $80 Million Common Stock Purchase Agreement With White Lion GBM Innovation Fund, With An Eye Towards Leveraging Innovate GBM’s Non-Profit Ecosystem to Accelerate Glioblastoma Therapies

PR Newswire

SEOUL, South Korea
, April 3, 2025 /PRNewswire/ — OSR Holdings, Inc. (“OSR”) (NASDAQ: OSRH), a global healthcare company focused on advancing innovative therapies, today announced that it has entered into a Common Stock Purchase Agreement with White Lion GBM Innovation Fund (“Innovation Fund”). Under this agreement, OSR has the right, but not the obligation, to sell up to $80 million in common stock to Innovation Fund over time, which will prospectively provide OSR with critical funding to accelerate its mission of improving patient outcomes worldwide.

Transforming Global Healthcare Through Innovation

OSR Holdings is committed to transforming the healthcare landscape through a diverse portfolio of cutting-edge biomedical initiatives. The company’s global network spans the United States, Europe, and Asia, focusing on oncology, immunotherapy, and medical devices. Among its key subsidiaries, OSR is advancing Vaximm, a Swiss-based biotech developing a novel GBM vaccine (VXM01) aimed at enhancing immune response against glioblastoma.

“This transaction is a major cornerstone in our plans to bring transformative therapies to market,” said Peter Hwang, CEO, OSR Holdings. “Glioblastoma remains one of the most challenging cancers, and we anticipate that establishing this financing facility will enable us to advance our Vaximm immunotherapy platform and other innovative healthcare solutions.

“We anticipate that this collaboration with Innovation Fund will also introduce our Vaximm VXM01 program into Innovate GBM’s ecosystem of researchers, clinicians, regulatory experts, investors, policymakers, and patient advocates; the same ecosystem that initially connected OSR and Innovation Fund. Together, we are committed to transforming glioblastoma treatment from a fragmented approach to one characterized by cooperation, transparency, and progress,” said Constance Höfer, CSO, OSR Holdings.

Innovate GBM: Expanding the Ecosystem to De-Risk Investment

Innovate GBM is a 501(c)(3) nonprofit that is dedicated to centralizing and expanding the glioblastoma innovation ecosystem. Innovate GBM unites scientists, clinicians, investors, patient advocates, and regulatory experts, creating an interconnected community that streamlines collaboration, amplifies resources, and accelerates investment into glioblastoma R&D. By bridging biotech companies, research institutions, and capital providers, Innovate GBM facilitates efficient funding toward promising therapies, moving groundbreaking research from academia into clinical settings rapidly. The OSR and Innovation Fund transaction is an example of the ecosystem at work.

“This transaction embodies Innovate GBM’s core vision,” said Kush Thukral, Co-Executive Director of Innovate GBM. “By bringing OSR Holdings and the GBM Innovation Fund together in our collaborative ecosystem, we accelerate capital deployment, enhance innovation, and ensure promising therapies reach patients faster.”

White Lion GBM Innovation Fund: A Strategic Investment Partner

The White Lion GBM Innovation Fund, one of Innovate GBM’s core sponsors, focuses on strategic funding opportunities in glioblastoma drug development. The Innovation Fund leverages the ecosystem curated by Innovate GBM to gain insights from the GBM community—including neuro-oncologists, scientists, and patient advocacy groups—to guide capital allocation toward the most impactful opportunities.

About OSR Holdings, Inc.

OSR Holdings, Inc. is a global healthcare company dedicated to advancing biomedical innovation. Through its subsidiaries, OSR is engaged in oncology immunotherapies, degenerative disease biologics, and medical device distribution. OSR’s vision is to acquire and operate a portfolio of innovative healthcare companies, improving patient care through cutting-edge research and development. For more information, visit www.OSR-Holdings.com.

About Innovate GBM

Innovate GBM is a 501(c)(3) nonprofit organization dedicated to expanding the glioblastoma ecosystem by uniting researchers, investors, clinicians, and patient advocates. By centralizing resources and facilitating strategic partnerships, Innovate GBM helps de-risk investment into GBM innovation, ensuring that funding flows efficiently to the most promising treatments. For more information, visit www.InnovateGBM.org.

Contact

[email protected]

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SOURCE OSR Holdings Inc.

April 3, 2025 7:36 am

Ballard Announces Q1 2025 Results Conference Call

PR Newswire

VANCOUVER, BC
, April 3, 2025 /PRNewswire/ – Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) will hold a conference call on Tuesday, May 6^th, 2025 at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time) to review first quarter 2025 operating results.

The live call can be accessed by dialing +1-844-763-8274 (Canada/US toll free). Alternatively, a live webcast can be accessed through a link on Ballard’s homepage (www.ballard.com). Following the call, the webcast will be archived in the ‘Earnings, Interviews & Presentations’ area of the ‘Investors’ section of Ballard’s website (www.ballard.com/investors).

About Ballard Power Systems

Ballard Power Systems’ (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power. To learn more about Ballard, please visit www.ballard.com.

Further Information

Sumit Kundu – Manager, Investor Relations & Finance +1.604.453.3517 or [email protected]

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SOURCE Ballard Power Systems Inc.

April 3, 2025 7:36 am

Conagra Brands Reports Third Quarter Results

PR Newswire

CHICAGO
, April 3, 2025 /PRNewswire/ — Today Conagra Brands, Inc. (NYSE: CAG) reported results for the third quarter of fiscal year 2025, which ended on February 23, 2025. All comparisons are against the prior year fiscal period, unless otherwise noted.

Highlights

Reported net sales decreased 6.3%; organic net sales decreased 5.2%.
Reported operating margin was 8.4% representing a 712 basis point decrease. Adjusted operating margin was 12.7% representing a 369 basis point decrease.
Reported diluted earnings per share (EPS) was $0.30, a 53.1% decrease. Adjusted EPS was $0.51, a 26.1% decrease.
The company’s fiscal 2025 guidance remains unchanged, reflecting:
- Organic net sales of approximately (2)% compared to fiscal 2024
- Adjusted operating margin of approximately 14.4%
- Adjusted EPS of approximately $2.35
- Free cash flow conversion of greater than 100%

CEO Perspective

Sean Connolly, president and chief executive officer of Conagra Brands, commented, “Our third quarter unfolded largely as expected since our update in February at CAGNY, with strong consumption trends and share performance reflecting the continued resilience of our brands. While shipments lagged consumption largely due to the discrete supply constraints we announced in February, we are making solid progress in restoring inventory and improving customer service levels. We continue to monitor the dynamic external environment while remaining focused on execution, and our fiscal 2025 guidance remains unchanged at this time.”

Total Company Third Quarter Results

In the quarter, net sales decreased 6.3% to $2.8 billion reflecting:

a 5.2% decrease in organic net sales;
a 0.7% decrease from the unfavorable impact of foreign exchange; and
a 0.4% decrease from the unfavorable impact of M&A.

The 5.2% decrease in organic net sales was driven by a 2.1% negative impact from price/mix and a 3.1% decrease in volume. Price/mix was driven by an increase in strategic investments in the company’s domestic retail business, as well as approximately 70 bps of headwind related to a change in estimate associated with fiscal 2025’s second quarter trade expense accrual.

Gross profit decreased 17.3% to $710 million in the quarter and adjusted gross profit decreased 19.1% to $704 million as productivity was more than offset by lower net sales, the negative impact of cost of goods sold inflation, and unfavorable operating leverage. Gross margin decreased 331 basis points to 25.0% in the quarter, and adjusted gross margin decreased 389 basis points to 24.8%.

Selling, general, and administrative expense (SG&A), which includes advertising and promotional expense (A&P), increased 14.5% to $444 million in the quarter driven primarily by charges related to legacy legal matters. Adjusted SG&A, which includes advertising and promotional expense (A&P), decreased 7.9% to $342 million primarily driven by lower incentive compensation compared to the prior year quarter. See “Note on Non-GAAP Financial Matters” for information about a change to our calculation methodology for Adjusted SG&A. A&P decreased 4.9% to $81 million compared to the prior year quarter.

Net interest expense was $101 million in the quarter, a 5.3% decrease compared to the prior year period due to a reduction in total debt.

The average diluted share count in the quarter was 479 million shares.

In the quarter, net income attributable to Conagra Brands decreased 53.0% to $145 million, or $0.30 per diluted share compared to $309 million, or $0.64 per diluted share in the prior year quarter. Adjusted net income attributable to Conagra Brands decreased 26.3% to $242 million, or $0.51 per diluted share, primarily as a result of the decrease in adjusted gross profit.

Adjusted EBITDA, which includes equity method investment earnings and pension and postretirement non-service income (expense), decreased 18.9% to $514 million in the quarter, primarily driven by the decrease in adjusted gross profit.

Grocery & Snacks Segment Third Quarter Results

Net sales for the Grocery & Snacks segment decreased 3.2% to $1.2 billion in the quarter, reflecting:

a 3.9% decrease in organic net sales; and
a 0.7% increase from the favorable impact of M&A.

The decrease in organic net sales was driven by a price/mix decrease of 2.6% and a volume decrease of 1.3%. Price/mix was primarily driven by an increase in strategic investments as well as approximately 80 bps of headwind related to a change in estimate associated with fiscal 2025’s second quarter trade expense accrual. The company gained volume share in snacking and staples categories including microwave popcorn, hot cocoa, shelf-stable dinners, chili, canned tomatoes, and seeds.

Operating profit for the segment decreased 20.6% to $238 million in the quarter and adjusted operating profit decreased 19.1% to $242 million as productivity was more than offset by lower net sales, the negative impact of cost of goods sold inflation, and unfavorable operating leverage. In addition, we wrapped a $7.4 million net benefit from insurance proceeds in the prior year period related to lost sales from our fiscal 2023 canned meat recall.

Refrigerated & Frozen Segment Third Quarter Results

Reported and organic net sales for the Refrigerated & Frozen segment decreased 7.2% to $1.1 billion in the quarter as price/mix decreased 4.2% and volume decreased 3.0%. Price/mix was primarily driven by an increase in strategic investments as well as approximately 80 bps of headwind related to a change in estimate associated with fiscal 2025’s second quarter trade expense accrual. Volume in the quarter was negatively impacted by previously disclosed supply constraints impacting the company’s frozen meals containing chicken and frozen vegetable products. The company gained volume share in select categories such as frozen desserts, frozen single-serve meals, frozen breakfast, refrigerated whipped toppings, and hot dogs.

Operating profit for the segment decreased 52.5% to $96 million in the quarter partially due to the impairment of a business held for sale. Adjusted operating profit decreased 38.8% to $124 million as productivity and lower SG&A were more than offset by lower net sales, the negative impact of cost of goods sold inflation, unfavorable operating leverage, and transitory costs incurred to build inventory in the company’s frozen meals containing chicken and frozen vegetable products.

International Segment Third Quarter Results

Net sales for the International segment decreased 17.6% to $224 million in the quarter reflecting:

an 8.5% decrease from the unfavorable impact of foreign exchange;
a 7.9% decrease from the unfavorable impact of M&A; and
a 1.2% decrease in organic net sales.

On an organic net sales basis, price/mix increased 4.4% and volume decreased 5.6%.

Operating profit for the segment decreased 21.5% to $33 million in the quarter and adjusted operating profit decreased 22.7% to $33 million as productivity was more than offset by unfavorable foreign exchange rates, lower net sales, the negative impact of cost of goods sold inflation, and unfavorable operating leverage.

Foodservice Segment Third Quarter Results

Net sales for the Foodservice segment decreased 6.1% to $256 million in the quarter, reflecting:

a 6.3% decrease in organic net sales; and
a 0.2% increase from the favorable impact of M&A.

Organic net sales were driven by a price/mix increase of 3.7% and volume decrease of 10.0% primarily due to ongoing softness in commercial traffic.

Operating profit and adjusted operating profit for the segment decreased 19.2% to $29 million as productivity was more than offset by lower net sales, the negative impact of cost of goods sold inflation, and unfavorable operating leverage.

Other Third Quarter Items

Corporate expenses increased 45.4% to $156 million largely due to charges related to legacy legal matters. Adjusted corporate expenses decreased 19.3% to $66 million in the quarter driven primarily by lower incentive compensation expense compared to the prior year quarter.

The company realized pension and post-retirement non-service income of $3.1 million in the quarter compared to $1.4 million of expense in the prior year quarter, due primarily to lower interest costs.

In the quarter, equity method investment earnings increased 15.0% to $47 million and adjusted equity method investment earnings increased 23.7% to $51 million driven by improved commodity revenue with recent volatility in the wheat markets, partially offset by continued lower volume trends as seen throughout the industry.

In the quarter, the effective tax rate was 23.3% compared to 23.7% in the prior year quarter, and the adjusted effective tax rate was 23.1% compared to 23.8% in the prior year quarter.

In the quarter, the company paid a dividend of $0.35 per share.

Cash Flow and Debt Update

For the first three quarters of fiscal 2025, the company generated $1.3 billion in net cash flows from operating activities compared to $1.5 billion in the prior year period, driven primarily by lower operating profit and lower dividend payments received from one of the company’s equity method investments, partially offset by accelerated receipt of the company’s outstanding receivables. Capital expenditures were $304 million compared to $310 million in the prior year period. Additionally, the company’s free cash flow decreased from the prior year period by $180 million to $1.0 billion. Dividends paid increased 2.1% to $502 million.

The company ended the quarter with net debt of $8.1 billion, representing a 5.9% reduction in net debt versus the prior year period, resulting in a 3.59x net leverage ratio at the end of the quarter.

Outlook

The company’s fiscal 2025 guidance remains unchanged, reflecting:

Organic net sales of approximately (2)% compared to fiscal 2024
Adjusted operating margin of approximately 14.4%
Adjusted EPS of approximately $2.35
Free cash flow conversion of greater than 100%

The company expects capital expenditures to be approximately $410 million for the year. Other guidance metrics including interest expense, Ardent Mills’ contribution, pension income, adjusted effective tax rate, inflation, and the net leverage ratio that were provided in the company’s second quarter fiscal 2025 earnings release remain unchanged. The company expects limited impact to fiscal 2025 from previously announced U.S. tariffs on steel and aluminum and imports from China. Guidance does not reflect any impacts from other tariffs.

The inability to predict the amount and timing of the impacts of foreign exchange, acquisitions, divestitures, and other items impacting comparability makes a detailed reconciliation of forward-looking non-GAAP financial measures impracticable. Please see the end of this release for more information.

Items Affecting Comparability of EPS

The following are included in the $0.30 EPS for the third quarter of fiscal 2025 (EPS amounts are rounded and after tax). Please see the reconciliation schedules at the end of this release for additional details.

Approximately $0.15 per diluted share of net expense related to legal matters
Approximately $0.05 per diluted share of net expense related to the impairment of business held for sale
Approximately $0.01 per diluted share of net expense related to restructuring plans
Approximately $0.01 per diluted share of net expense related to Ardent Mills joint venture restructuring activities
Approximately $0.01 per diluted share of net benefit related to a corporate heding derivative gains

The following are included in the $0.64 EPS for the third quarter of fiscal 2024 (EPS amounts are rounded and after tax). Please see the reconciliation schedules at the end of this release for additional details.

Approximately $0.03 per diluted share of net expense related to legal matters
Approximately $0.01 per diluted share of net expense related to corporate hedging derivative losses
Approximately $0.01 per diluted share of net expense related to rounding

Please note that certain prior year amounts have been reclassified to conform with current year presentation.

Discussion of Results and Outlook

Conagra Brands will issue pre-recorded remarks prior to hosting a live Q&A conference call and webcast at 9:30 a.m. Eastern time today to discuss the company’s results and outlook. The live audio webcast Q&A conference call, pre-recorded remarks, transcript of the pre-recorded remarks, and presentation slides will be available on www.conagrabrands.com/investor-relations under Events & Presentations. The Q&A conference call may be accessed by dialing 1‑877‑883‑0383 for participants in the U.S. and 1‑412‑902‑6506 for all other participants and using passcode 8551232. Please dial in 10 to 15 minutes prior to the call start time. A replay of the Q&A conference call will be available on www.conagrabrands.com/investor-relations under Events & Presentations until April 3, 2026.

About Conagra Brands

Conagra Brands, Inc. (NYSE: CAG), is one of North America’s leading branded food companies. We combine a 100-year history of making quality food with agility and a relentless focus on collaboration and innovation. The company’s portfolio is continuously evolving to satisfy consumers’ ever-changing food preferences. Conagra’s brands include Birds Eye®, Duncan Hines®, Healthy Choice®, Marie Callender’s®, Reddi-wip®, Slim Jim®, Angie’s® BOOMCHICKAPOP®, and many more. As a corporate citizen, we aim to do what’s right for our business, our employees, our communities and the world. Headquartered in Chicago, Conagra Brands generated fiscal 2024 net sales of more than $12 billion. For more information, visit www.conagrabrands.com.

Note on Forward-Looking Statements

This document contains forward-looking statements within the meaning of the federal securities laws. Examples of forward-looking statements include statements regarding the company’s expected future financial performance or position, results of operations, business strategy, plans and objectives of management for future operations, and other statements that are not historical facts. You can identify forward-looking statements by their use of forward-looking words, such as “Outlook”, “may”, “will”, “anticipate”, “expect”, “believe”, “plan”, “should”, or comparable terms. Readers of this document should understand that these forward-looking statements are not guarantees of performance or results. Forward-looking statements provide our current expectations and beliefs concerning future events and are subject to risks, uncertainties, and factors relating to our business and operations, all of which are difficult to predict and could cause our actual results to differ materially from the expectations expressed in or implied by such forward-looking statements. These risks, uncertainties, and factors include, among other things: risks associated with general economic and industry conditions, including inflation, reduced consumer confidence and spending, recessions, increased energy costs, supply chain challenges, increased tariffs and taxes, labor cost increases or shortages, currency rate fluctuations, and geopolitical conflicts; risks related to our ability to deleverage on currently anticipated timelines, and to continue to access capital on acceptable terms or at all; risks related to the company’s competitive environment, cost structure, and related market conditions; risks related to our ability to execute operating and value creation plans and achieve returns on our investments and targeted operating efficiencies from cost-saving initiatives, and to benefit from trade optimization programs; risks related to the availability and prices of commodities and other supply chain resources, including raw materials, packaging, energy, and transportation, weather conditions, health pandemics or outbreaks of disease, actual or threatened hostilities or war, or other geopolitical uncertainty; risks related to our ability to respond to changing consumer preferences and the success of our innovation and marketing investments; risks associated with actions by our customers, including changes in distribution and purchasing terms; risks related to the effectiveness of our hedging activities and ability to respond to volatility in commodities; disruptions or inefficiencies in our supply chain and/or operations; risks related to the ultimate impact of, including reputational harm caused by, any product recalls and product liability or labeling litigation, including litigation related to lead-based paint and pigment and cooking spray; risks related to the seasonality of our business; risks associated with our co-manufacturing arrangements and other third-party service provider dependencies; risks associated with actions of governments and regulatory bodies that affect our businesses, including the ultimate impact of new or revised regulations or interpretations including to address climate change; risks related to the company’s ability to execute on its strategies or achieve expectations related to environmental, social, and governance matters, including as a result of evolving legal, regulatory, and other standards, processes, and assumptions, the pace of scientific and technological developments, increased costs, the availability of requisite financing, and changes in carbon pricing or carbon taxes; risks related to a material failure in or breach of our or our vendors’ information technology systems and other cybersecurity incidents; risks related to our ability to identify, attract, hire, train, retain and develop qualified personnel; risk of increased pension, labor or people-related expenses; risks and uncertainties associated with intangible assets, including any future goodwill or intangible assets impairment charges; risk relating to our ability to protect our intellectual property rights; risks relating to acquisition, divestiture, joint venture or investment activities; the amount and timing of future dividends, which remain subject to Board approval and depend on market and other conditions; the amount and timing of future stock repurchases; and other risks described in our reports filed from time to time with the Securities and Exchange Commission.

We caution readers not to place undue reliance on any forward-looking statements included in this document, which speak only as of the date of this document. We undertake no responsibility to update these statements, except as required by law.

Note on Non-GAAP Financial Measures

This document includes certain non-GAAP financial measures, including adjusted EPS, organic net sales, adjusted gross profit, adjusted operating profit, adjusted SG&A, adjusted corporate expenses, adjusted gross margin, adjusted operating margin, adjusted effective tax rate, adjusted net income attributable to Conagra Brands, free cash flow, net debt, net leverage ratio, and adjusted EBITDA. Management considers GAAP financial measures as well as such non-GAAP financial information in its evaluation of the company’s financial statements. We believe these non-GAAP financial measures provide useful supplemental information to investors to facilitate year-over-year comparisons by removing non-recurring items and other items impacting comparability such as the impacts of foreign exchange, divested businesses and acquisitions, as well as the impact of any 53rd week, as noted in more detail for each measure below. We also believe the below financial measures are used by investors and analysts to assess the company’s operating performance and financial position. These measures should be viewed in addition to, and not in lieu of, the company’s diluted earnings per share, operating performance and financial measures as calculated in accordance with GAAP.

Organic net sales excludes, from reported net sales, the impacts of foreign exchange, divested businesses and acquisitions, as well as the impact of any 53rd week to provide a more transparent view of year-over-year comparability. All references to changes in volume and price/mix throughout this release are on an organic net sales basis.

Free cash flow is net cash from operating activities less additions to property, plant and equipment. Free cash flow conversion is free cash flow divided by adjusted net income attributable to Conagra Brands, Inc. We use this non-GAAP financial measure to provide additional information about the amount of cash available for debt repayment, dividend distributions, acquisition opportunities, and share repurchases after all of the company’s business needs and obligations are met.

References to adjusted items throughout this release refer to measures computed in accordance with GAAP less the impact of items impacting comparability. Items impacting comparability are income or expenses (and related tax impacts) that management believes have had, or are likely to have, a significant impact on the earnings of the applicable business segment or on the total corporation for the period in which the item is recognized, and are not indicative of the company’s core operating results. We exclude these items that we believe affect comparability of underlying results from period to period and may obscure trends in our underlying profitability.

During the third quarter of fiscal 2025, we revised our calculation methodology for Adjusted SG&A to include advertising and promotional (A&P) expense. Prior-year periods have been recast to reflect this new calculation methodology. Please refer to the tables in this press release for a reconciliation of this non-GAAP financial measures using the updated calculation method to the most directly comparable financial measure calculated in accordance with U.S. GAAP which include information about A&P expense in the footnotes.

References to earnings before interest, taxes, depreciation, and amortization (EBITDA) refer to net income attributable to Conagra Brands before the impacts of discontinued operations, income tax expense (benefit), interest expense, depreciation, and amortization. For adjusted EBITDA, we exclude items resulting from infrequently occurring events or items that we believe significantly affect the year-to-year assessment of the company’s operating results.

Hedge gains and losses are generally aggregated, and net amounts are reclassified from unallocated corporate expense to the operating segments when the underlying commodity or foreign currency being hedged is expensed in segment cost of goods sold. The net change in the derivative gains (losses) included in unallocated corporate expense during the period is reflected as a comparability item, Corporate hedging derivate gains (losses). Since our hedging contracts are generally for future periods, this adjustment facilitates year-over-year comparisons of cost of goods sold, matching the derivative gains and losses with the underlying economic exposure being hedged for the period.

Note on Forward-Looking Non-GAAP Financial Measures

The company’s fiscal 2025 guidance includes certain non-GAAP financial measures (organic net sales growth, adjusted operating margin, adjusted EPS, net leverage ratio, and adjusted effective tax rate) that are presented on a forward-looking basis. Historically, the company has calculated these non-GAAP financial measures excluding the impact of certain items such as, but not limited to, foreign exchange, acquisitions, divestitures, restructuring expenses, the extinguishment of debt, hedging gains and losses, impairment charges, legacy legal contingencies, and unusual tax items. Reconciliations of these forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures are not provided because the company is unable to provide such reconciliations without unreasonable effort, due to the uncertainty and inherent difficulty of predicting the timing and financial impact of such items. For the same reasons, the company is unable to address the probable significance of the unavailable information, which could be material to future results.

Conagra Brands, Inc. Consolidated Statements of Earnings (in millions) (unaudited)
		THIRD QUARTER
	Thirteen Weeks Ended		Thirteen Weeks Ended
	February 23, 2025		February 25, 2024		Percent Change
Net sales	$	2,841.0	$	3,032.9	(6.3) %
Cost of goods sold		2,130.7		2,174.1	(2.0) %
Selling, general and administrative expenses		443.7		387.4	14.5 %
Loss on divestitures		27.2		—	100.0 %
Pension and postretirement non-service income (expense)		3.1		(1.4)	N/A
Interest expense, net		100.9		106.5	(5.3) %
Equity method investment earnings		47.4		41.2	15.0 %
Income before income taxes	$	189.0	$	404.7	(53.3) %
Income tax expense		43.9		95.9	(54.1) %
Net income	$	145.1	$	308.8	(53.0) %
Less: Net income attributable to noncontrolling interests		—		0.2	(100.0) %
Net income attributable to Conagra Brands, Inc.	$	145.1	$	308.6	(53.0) %

Earnings per share – basic
Net income attributable to Conagra Brands, Inc.	$	0.30	$	0.64	(53.1) %
Basic weighted average shares outstanding		478.1		478.8	(0.1) %

Earnings per share – diluted
Net income attributable to Conagra Brands, Inc.	$	0.30	$	0.64	(53.1) %
Diluted weighted average shares outstanding		479.3		480.0	(0.1) %

Conagra Brands, Inc. Consolidated Statements of Earnings (in millions) (unaudited)
		THIRD QUARTER YEAR TO DATE
	Thirty-Nine Weeks Ended		Thirty-Nine Weeks Ended
	February 23, 2025		February 25, 2024		Percent Change
Net sales	$	8,831.0	$	9,145.0	(3.4) %
Cost of goods sold		6,534.7		6,616.5	(1.2) %
Selling, general and administrative expenses		1,204.3		1,085.4	11.0 %
Other intangible asset impairment charges		18.9		—	100.0 %
Loss on divestitures		29.5		34.2	(13.7) %
Pension and postretirement non-service income (expense)		9.3		(2.1)	N/A
Interest expense, net		314.9		325.8	(3.4) %
Equity method investment earnings		125.0		131.0	(4.6) %
Income before income taxes	$	863.0	$	1,212.0	(28.8) %
Income tax expense (benefit)		(33.5)		297.1	N/A
Net income	$	896.5	$	914.9	(2.0) %
Less: Net income attributable to noncontrolling interests		0.1		0.4	(85.1) %
Net income attributable to Conagra Brands, Inc.	$	896.4	$	914.5	(2.0) %

Earnings per share – basic
Net income attributable to Conagra Brands, Inc.	$	1.87	$	1.91	(2.1) %
Basic weighted average shares outstanding		478.4		478.5	(0.0) %

Earnings per share – diluted
Net income attributable to Conagra Brands, Inc.	$	1.87	$	1.91	(2.1) %
Diluted weighted average shares outstanding		479.7		479.9	(0.0) %

Conagra Brands, Inc. Consolidated Balance Sheets (in millions) (unaudited)
		February 23, 2025		May 26, 2024
ASSETS
Current assets
Cash and cash equivalents	$	49.4	$	77.7
Receivables, less allowance for doubtful accounts of $3.1 and $3.0		769.9		871.8
Inventories		1,954.5		1,981.5
Prepaid expenses and other current assets		110.4		85.0
Current assets held for sale		81.4		133.5
Total current assets		2,965.6		3,149.5
Property, plant and equipment, net		2,739.0		2,821.0
Goodwill		10,499.8		10,325.9
Brands, trademarks and other intangibles, net		2,487.1		2,484.8
Other assets		1,523.2		1,430.1
Noncurrent assets held for sale		529.8		651.0
	$	20,744.5	$	20,862.3
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Notes payable	$	877.7	$	928.4
Current installments of long-term debt		1,030.6		20.3
Accounts and other payables		1,421.4		1,493.7
Accrued payroll		144.5		193.3
Other accrued liabilities		826.8		588.6
Current liabilities held for sale		2.7		17.5
Total current liabilities		4,303.7		3,241.8
Senior long-term debt, excluding current installments		6,236.8		7,492.6
Other noncurrent liabilities		1,424.0		1,611.8
Noncurrent liabilities held for sale		0.9		4.8
Total stockholders’ equity		8,779.1		8,511.3
	$	20,744.5	$	20,862.3

Conagra Brands, Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows (in millions)
	Thirty-Nine Weeks Ended
	February 23, 2025		February 25, 2024
Cash flows from operating activities:
Net income	$	896.5	$	914.9
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization		294.9		291.7
Asset impairment charges		121.3		50.9
Equity method investment earnings less than (in excess of) distributions		(35.5)		69.5
Stock-settled share-based payments expense		36.1		18.7
Contributions to pension plans		(9.1)		(9.2)
Pension expense (benefit)		(2.3)		9.3
Other items		(5.5)		13.9
Change in operating assets and liabilities excluding effects of business acquisitions and dispositions:
Receivables		150.1		25.5
Inventories		71.0		73.3
Deferred income taxes and income taxes payable, net		(199.1)		43.1
Prepaid expenses and other current assets		(18.4)		(31.3)
Accounts and other payables		(48.2)		(36.5)
Accrued payroll		(47.4)		4.6
Other accrued liabilities		71.3		76.2
Litigation receivables, net of recoveries		(57.0)		—
Litigation accruals, net of payments		127.5		16.7
Net cash flows from operating activities		1,346.2		1,531.3
Cash flows from investing activities:
Additions to property, plant and equipment		(304.2)		(309.6)
Sale of property, plant and equipment		3.3		0.6
Purchase of marketable securities		—		(8.2)
Sale of marketable securities		—		8.2
Purchase of businesses, net of cash acquired		(230.6)		—
Proceeds from divestitures, net of cash divested		76.8		—
Proceeds from insurance recoveries		—		11.9
Other items		(2.5)		1.5
Net cash flows from investing activities		(457.2)		(295.6)
Cash flows from financing activities:
Issuance of short-term borrowings, maturities greater than 90 days		103.3		134.5
Repayment of short-term borrowings, maturities greater than 90 days		(103.3)		(146.6)
Net issuance (repayment) of other short-term borrowings, maturities less than or equal to 90 days		(52.6)		(461.7)
Issuance of long-term debt		—		500.0
Repayment of long-term debt		(274.8)		(766.8)
Debt issuance costs		—		(3.3)
Repurchase of Conagra Brands, Inc. common shares		(64.0)		—
Cash dividends paid		(502.2)		(492.0)
Exercise of stock options and issuance of other stock awards, including tax withholdings		(20.5)		(13.8)
Other items		(0.2)		(0.6)
Net cash flows from financing activities		(914.3)		(1,250.3)
Effect of exchange rate changes on cash and cash equivalents		(4.3)		—
Net change in cash and cash equivalents, including cash balances classified as assets held for sale		(29.6)		(14.6)
Less: Net change in cash balances classified as assets held for sale		(1.3)		0.2
Net change in cash and cash equivalents		(28.3)		(14.8)
Cash and cash equivalents at beginning of period		77.7		93.3
Cash and cash equivalents at end of period	$	49.4	$	78.5

Conagra Brands, Inc. Reconciliation of Q3 FY25 QTD and YTD Organic Net Sales by Segment – YOY Change (in millions)
Q3 FY25	Grocery & Snacks		Refrigerated & Frozen		International		Foodservice		Total Conagra Brands
Net Sales	$	1,245.4	$	1,115.6	$	223.9	$	256.1	$	2,841.0
Impact of foreign exchange		—		—		20.9		—		20.9
Net sales from acquired businesses		(9.7)		—		—		(0.6)		(10.3)
Organic Net Sales	$	1,235.7	$	1,115.6	$	244.8	$	255.5	$	2,851.6

Year-over-year change – Net Sales		(3.2) %		(7.2) %		(17.6) %		(6.1) %		(6.3) %
Impact of foreign exchange (pp)		—		—		8.5		—		0.7
Net sales from acquired businesses (pp)		(0.7)		—		—		(0.2)		(0.3)
Net sales from divested businesses (pp)		—		—		7.9		—		0.7
Organic Net Sales		(3.9) %		(7.2) %		(1.2) %		(6.3) %		(5.2) %

Volume		(1.3) %		(3.0) %		(5.6) %		(10.0) %		(3.1) %
Price/Mix		(2.6) %		(4.2) %		4.4 %		3.7 %		(2.1) %


Q3 FY24	Grocery & Snacks		Refrigerated & Frozen		International		Foodservice		Total Conagra Brands
Net Sales	$	1,286.0	$	1,202.4	$	271.7	$	272.8	$	3,032.9
Net sales from divested businesses		—		—		(23.9)		—		(23.9)
Organic Net Sales	$	1,286.0	$	1,202.4	$	247.8	$	272.8	$	3,009.0


Q3 FY25 YTD	Grocery & Snacks		Refrigerated & Frozen		International		Foodservice		Total Conagra Brands
Net Sales	$	3,749.1	$	3,540.5	$	726.4	$	815.0	$	8,831.0
Impact of foreign exchange ¹		—		—		39.4		—		39.4
Net sales from acquired businesses		(23.3)		—		—		(1.1)		(24.4)
Net sales from divested businesses		—		—		(23.6)		—		(23.6)
Organic Net Sales	$	3,725.8	$	3,540.5	$	742.2	$	813.9	$	8,822.4

Year-over-year change – Net Sales		(0.9) %		(4.1) %		(10.5) %		(4.9) %		(3.4) %
Impact of foreign exchange (pp) ¹		—		—		5.2		—		0.4
Net sales from acquired businesses (pp)		(0.6)		—		—		(0.1)		(0.3)
Net sales from divested businesses (pp)		—		—		5.7		—		0.5
Organic Net Sales		(1.5) %		(4.1) %		0.4 %		(5.0) %		(2.8) %

Volume		(0.9) %		(0.3) %		(3.2) %		(8.3) %		(1.4) %
Price/Mix		(0.6) %		(3.8) %		3.6 %		3.3 %		(1.4) %


Q3 FY24 YTD	Grocery & Snacks		Refrigerated & Frozen		International		Foodservice		Total Conagra Brands
Net Sales	$	3,784.0	$	3,692.5	$	811.5	$	857.0	$	9,145.0
Net sales from divested businesses		—		—		(72.4)		—		(72.4)
Organic Net Sales	$	3,784.0	$	3,692.5	$	739.1	$	857.0	$	9,072.6

¹Excludes the impact of foreign exchange related to divested businesses.

Conagra Brands, Inc. Reconciliation of Q3 FY25 Adj. Operating Profit by Segment – YOY Change (in millions)
Q3 FY25	Grocery & Snacks		Refrigerated & Frozen		International		Foodservice		Corporate Expense		Total Conagra Brands
Operating Profit	$	237.6	$	95.7	$	33.1	$	28.6	$	(155.6)	$	239.4
Restructuring plans		4.8		1.1		0.3		—		0.7		6.9
Acquisitions and divestitures		—		—		—		—		0.3		0.3
Impairment of business held for sale		—		27.2		—		—		—		27.2
Legal matters		—		—		—		—		95.8		95.8
Corporate hedging derivative losses (gains)		—		—		—		—		(7.7)		(7.7)
Adjusted Operating Profit	$	242.4	$	124.0	$	33.4	$	28.6	$	(66.5)	$	361.9

Operating Profit Margin		19.1 %		8.6 %		14.8 %		11.2 %				8.4 %
Adjusted Operating Profit Margin		19.5 %		11.1 %		15.0 %		11.2 %				12.7 %
Year-over-year % change – Operating Profit		(20.6) %		(52.5) %		(21.5) %		(19.2) %		45.4 %		(49.2) %
Year-over year % change – Adjusted Operating Profit		(19.1) %		(38.8) %		(22.7) %		(19.2) %		(19.3) %		(27.4) %
Year-over-year bps change – Operating Profit		(419) bps		(819) bps		(74) bps		(181) bps				(712) bps
Year-over-year bps change – Adjusted Operating Profit		(382) bps		(574) bps		(99) bps		(181) bps				(369) bps


Q3 FY24	Grocery & Snacks		Refrigerated & Frozen		International		Foodservice		Corporate Expense		Total Conagra Brands
Operating Profit	$	299.3	$	201.5	$	42.2	$	35.4	$	(107.0)	$	471.4
Restructuring plans		0.2		0.5		1.1		—		(0.1)		1.7
Legal matters		—		—		—		—		17.9		17.9
Fire related costs, net		—		0.6		—		—		—		0.6
Corporate hedging derivative losses (gains)		—		—		—		—		6.8		6.8
Adjusted Operating Profit	$	299.5	$	202.6	$	43.3	$	35.4	$	(82.4)	$	498.4

Operating Profit Margin		23.3 %		16.8 %		15.6 %		13.0 %				15.5 %
Adjusted Operating Profit Margin		23.3 %		16.9 %		15.9 %		13.0 %				16.4 %

Conagra Brands, Inc. Reconciliation of Q3 FY25 YTD Adj. Operating Profit by Segment – YOY Change (in millions)
Q3 FY25 YTD	Grocery & Snacks		Refrigerated & Frozen		International		Foodservice		Corporate Expense		Total Conagra Brands
Operating Profit	$	779.9	$	374.3	$	107.6	$	99.5	$	(317.7)	$	1,043.6
Restructuring plans		10.8		78.5		(1.3)		—		2.7		90.7
Legal matters		—		—		—		—		99.2		99.2
Fire related insurance recoveries		—		(17.0)		—		—		—		(17.0)
Consulting fees on tax matters		—		—		—		—		2.0		2.0
Loss on sale of business		—		—		2.3		—		—		2.3
Brand impairment charges		0.7		18.2		—		—		—		18.9
Acquisitions and divestitures		—		—		—		—		0.3		0.3
Impairment of business held for sale		—		27.2		—		—		—		27.2
Corporate hedging derivative losses (gains)		—		—		—		—		(17.3)		(17.3)
Adjusted Operating Profit	$	791.4	$	481.2	$	108.6	$	99.5	$	(230.8)	$	1,249.9

Operating Profit Margin		20.8 %		10.6 %		14.8 %		12.2 %				11.8 %
Adjusted Operating Profit Margin		21.1 %		13.6 %		14.9 %		12.2 %				14.2 %
Year-over-year % change – Operating Profit		(6.8) %		(39.7) %		49.8 %		(15.3) %		33.2 %		(25.9) %
Year-over year % change – Adjusted Operating Profit		(6.3) %		(23.2) %		(14.0) %		(10.8) %		6.9 %		(16.3) %
Year-over-year bps change – Operating Profit		(132) bps		(624) bps		596 bps		(150) bps				(359) bps
Year-over-year bps change – Adjusted Operating Profit		(122) bps		(337) bps		(60) bps		(81) bps				(217) bps


Q3 FY24 YTD	Grocery & Snacks		Refrigerated & Frozen		International		Foodservice		Corporate Expense		Total Conagra Brands
Operating Profit	$	837.2	$	620.9	$	71.8	$	117.5	$	(238.5)	$	1,408.9
Restructuring plans		7.7		1.6		20.2		—		0.1		29.6
Impairment of business held for sale		—		—		34.2		—		—		34.2
Acquisitions and divestitures		—		—		—		—		0.2		0.2
Legal matters		—		—		—		—		31.9		31.9
Fire related costs (insurance recoveries), net		—		3.7		—		(5.9)		—		(2.2)
Corporate hedging derivative losses (gains)		—		—		—		—		(9.6)		(9.6)
Adjusted Operating Profit	$	844.9	$	626.2	$	126.2	$	111.6	$	(215.9)	$	1,493.0

Operating Profit Margin		22.1 %		16.8 %		8.9 %		13.7 %				15.4 %
Adjusted Operating Profit Margin		22.3 %		17.0 %		15.6 %		13.0 %				16.3 %

Conagra Brands, Inc. Reconciliation of Q3 FY25 Adj. Gross Margin, Adj. Gross Profit, Adj. SG&A, Adj. Net Income, and Adj. EPS – YOY Change (in millions)
Q3 FY25		Gross profit		Selling, general and administrative expenses ¹		Operating profit ²		Income before income taxes		Income tax expense	Income tax rate		Net income attributable to Conagra Brands, Inc.		Diluted EPS from income attributable to Conagra Brands, Inc common stockholders
Reported	$	710.3	$	443.7	$	239.4	$	189.0	$	43.9	23.3 %	$	145.1	$	0.30
*% of Net Sales*		25.0 %		15.6 %		8.4 %
Restructuring plans		1.3		5.6		6.9		6.9		1.8			5.1		0.01
Acquisitions and divestitures		—		0.3		0.3		0.3		0.1			0.2		—
Corporate hedging derivative losses (gains)		(7.7)		—		(7.7)		(7.7)		(1.5)			(6.2)		(0.01)
Impairment of business held for sale		—		—		27.2		27.2		4.3			22.9		0.05
Legal matters		—		95.8		95.8		95.8		23.5			72.3		0.15
Ardent JV restructuring activities		—		—		—		3.6		0.9			2.7		0.01
Adjusted	$	703.9	$	342.0	$	361.9	$	315.1	$	73.0	23.1 %	$	242.1	$	0.51
*% of Net Sales*		24.8 %		12.0 %		12.7 %
*Year-over-year % of net sales change – reported*		*(331) bps*		*285 bps*		*(712) bps*
*Year-over-year % of net sales change – adjusted*		*(389) bps*		*(20) bps*		*(369) bps*

*Year-over-year change – reported*		(17.3) %		14.5 %		(49.2) %		(53.3) %		(54.1) %			(53.0) %		(53.1) %
*Year-over-year change – adjusted*		(19.1) %		(7.9) %		(27.4) %		(27.0) %		(29.0) %			(26.3) %		(26.1) %


Q3 FY24		Gross profit		Selling, general and administrative expenses ¹		Operating profit ²		Income before income taxes		Income tax expense	Income tax rate		Net income attributable to Conagra Brands, Inc.		Diluted EPS from income attributable to Conagra Brands, Inc common stockholders
Reported	$	858.8	$	387.4	$	471.4	$	404.7	$	95.9	23.7 %	$	308.6	$	0.64
*% of Net Sales*		28.3 %		12.8 %		15.5 %
Restructuring plans		1.1		0.6		1.7		1.7		0.5			1.2		—
Corporate hedging derivative losses (gains)		6.8		—		6.8		6.8		1.7			5.1		0.01
Fire related costs (insurance recoveries), net		2.8		(2.2)		0.6		0.6		0.2			0.4		—
Legal matters		—		17.9		17.9		17.9		4.3			13.6		0.03
Rounding		—		—		—		—		—			—		0.01
Adjusted	$	869.5	$	371.1	$	498.4	$	431.7	$	102.6	23.8 %	$	328.9	$	0.69
*% of Net Sales*		28.7 %		12.2 %		16.4 %

¹ Includes advertising and promotion (A&P) expense of $81.4 million and $85.6 million for Q3 FY25 and Q3 FY24, respectively. A&P as a percentage of net sales was 2.9% and 2.8% for Q3 FY25 and Q3 FY24, respectively. During the third quarter of fiscal 2025, we revised our calculation methodology for Adjusted SG&A to include advertising and promotional (A&P) expense. Prior-year periods have been recast to reflect this new calculation methodology.

² Operating profit is derived from taking Income before income taxes, adding back Interest expense, net and removing Pension and postretirement non-service income and Equity method investment earnings.

Conagra Brands, Inc. Reconciliation of Q3 FY25 YTD Adj. Gross Margin, Adj. Gross Profit, Adj. SG&A, Adj. Net Income, and Adj. EPS – YOY Change (in millions)
Q3 FY25 YTD		Gross profit		Selling, general and administrative expenses ¹		Operating profit ²		Income before income taxes		Income tax expense (benefit)	Income tax rate		Net income attributable to Conagra Brands, Inc.		Diluted EPS from income attributable to Conagra Brands, Inc common stockholders
Reported	$	2,296.3	$	1,204.3	$	1,043.6	$	863.0	$	(33.5)	(3.9) %	$	896.4	$	1.87
*% of Net Sales*		26.0 %		13.6 %		11.8 %
Restructuring plans		9.6		81.1		90.7		90.7		22.0			68.7		0.14
Loss on sale of business		—		—		2.3		2.3		0.8			1.5		—
Corporate hedging derivative losses (gains)		(17.3)		—		(17.3)		(17.3)		(4.3)			(13.0)		(0.03)
Fire related insurance recoveries		(17.0)		—		(17.0)		(17.0)		(4.2)			(12.8)		(0.03)
Consulting fees on tax matters		—		2.0		2.0		2.0		0.5			1.5		—
Legal matters		—		99.2		99.2		99.2		24.3			74.9		0.16
Brand impairment charges		—		—		18.9		18.9		4.4			14.5		0.03
Impairment of business held for sale		—		—		27.2		27.2		4.3			22.9		0.05
Acquisitions and divestitures		—		0.3		0.3		0.3		0.1			0.2		—
Ardent JV restructuring activities		—		—		—		3.6		0.9			2.7		0.01
Valuation allowance adjustment		—		—		—		—		225.8			(225.8)		(0.47)
Adjusted	$	2,271.6	$	1,021.7	$	1,249.9	$	1,072.9	$	241.1	22.5 %	$	831.7	$	1.73
*% of Net Sales*		25.7 %		11.6 %		14.2 %
*Year-over-year % of net sales change – reported*		*(165) bps*		*177 bps*		*(359) bps*
*Year-over-year % of net sales change – adjusted*		*(198) bps*		*20 bps*		*(217) bps*

*Year-over-year change – reported*		(9.2) %		11.0 %		(25.9) %		(28.8) %		*N/A*			(2.0) %		0.5 %
*Year-over-year change – adjusted*		(10.3) %		(1.8) %		(16.3) %		(17.2) %		(22.1) %			(15.7) %		(16.0) %


Q3 FY24 YTD		Gross profit		Selling, general and administrative expenses ¹		Operating profit ²		Income before income taxes		Income tax expense	Income tax rate		Net income attributable to Conagra Brands, Inc.		Diluted EPS from income attributable to Conagra Brands, Inc common stockholders
Reported	$	2,528.5	$	1,085.4	$	1,408.9	$	1,212.0	$	297.1	24.5 %	$	914.5	$	1.91
*% of Net Sales*		27.6 %		11.9 %		15.4 %
Restructuring plans		8.2		21.4		29.6		29.6		7.6			22.0		0.05
Acquisitions and divestitures		—		0.2		0.2		0.2		—			0.2		—
Corporate hedging derivative losses (gains)		(9.6)		—		(9.6)		(9.6)		(2.5)			(7.1)		(0.01)
Fire related costs (insurance recoveries), net		5.9		(8.1)		(2.2)		(2.2)		(0.5)			(1.7)		—
Impairment of business held for sale		—		—		34.2		34.2		(0.1)			34.3		0.07
Legal matters		—		31.9		31.9		31.9		7.9			24.0		0.05
Rounding		—		—		—		—		—			—		(0.01)
Adjusted	$	2,533.0	$	1,040.0	$	1,493.0	$	1,296.1	$	309.5	23.9 %	$	986.2	$	2.06
*% of Net Sales*		27.7 %		11.4 %		16.3 %

¹Includes advertising and promotion (A&P) expense of $201.1 million and $216.8 million for Q3 FY25 YTD and Q3 FY24 YTD, respectively. A&P as a percentage of net sales was 2.3% and 2.4% for Q3 FY25 YTD and Q3 FY24 YTD, respectively. During the third quarter of fiscal 2025, we revised our calculation methodology for Adjusted SG&A to include advertising and promotional (A&P) expense. Prior-year periods have been recast to reflect this new calculation methodology.

Conagra Brands, Inc. Reconciliation of YTD Free Cash Flow, Net Debt, and Net Leverage Ratio (in millions)
		Q3 FY25 YTD		Q3 FY24 YTD	% Change
Net cash flows from operating activities	$	1,346.2	$	1,531.3	(12.1) %
Additions to property, plant and equipment		(304.2)		(309.6)	(1.7) %
Free cash flow	$	1,042.0	$	1,221.7	(14.7) %


	February 23, 2025		February 25, 2024
Notes payable	$	877.7	$	166.3
Current installments of long-term debt		1,030.6		1,019.2
Senior long-term debt, excluding current installments		6,236.8		7,491.8
Total Debt	$	8,145.1	$	8,677.3
Less: Cash		49.4		78.5
Net Debt	$	8,095.7	$	8,598.8


		FY24		Q3 FY24 YTD		Q3 FY25 YTD		Q3 FY25 TTM
		(a)		(b)		(c)		(a)-(b)+(c)
Net Debt¹							$	8,095.7

Net income attributable to Conagra Brands, Inc.	$	347.2	$	914.5	$	896.4	$	329.1
Add Back: Income tax expense (benefit)		262.5		297.1		(33.5)		(68.1)
Income tax expense attributable to noncontrolling interests		(0.2)		(0.1)		–		(0.1)
Interest expense, net		430.5		325.8		314.9		419.6
Depreciation		347.3		251.5		254.5		350.3
Amortization		53.6		40.2		40.4		53.8
Earnings before interest, taxes, depreciation, and amortization (EBITDA)	$	1,440.9	$	1,829.0	$	1,472.7	$	1,084.6
Restructuring plans²		51.5		23.3		88.5		116.7
Acquisitions and divestitures		0.2		0.2		0.3		0.3
Corporate hedging derivative losses (gains)		(16.1)		(9.6)		(17.3)		(23.8)
Fire related insurance recoveries, net		(8.7)		(2.2)		(17.0)		(23.5)
Impairment of business held for sale		36.4		34.2		27.2		29.4
Goodwill and brand impairment charges		956.7		—		18.9		975.6
Consulting fees on tax matters		—		—		2.0		2.0
Loss on sale of business		—		—		2.3		2.3
Legal matters		34.8		31.9		99.2		102.1
Pension valuation adjustment		(11.5)		—		—		(11.5)
Ardent JV restructuring activities		—		—		3.6		3.6
Adjusted EBITDA	$	2,484.2	$	1,906.8	$	1,680.4	$	2,257.8

Net Debt to Adjusted EBITDA³								3.59

¹As of February 23, 2025.

²Excludes comparability items related to depreciation.

³The company defines its net debt leverage ratio as net debt divided by adjusted EBITDA for the trailing twelve month (TTM) period.

Conagra Brands, Inc. Reconciliation of Q3 FY25 QTD and YTD EBITDA – YOY Change (in millions)
	Q3 FY25		Q3 FY24		% Change
Net income attributable to Conagra Brands, Inc.	$	145.1	$	308.6	(53.0) %
Add Back: Income tax expense		43.9		95.9
Income tax expense attributable to noncontrolling interests		—		—
Interest expense, net		100.9		106.5
Depreciation		84.8		82.4
Amortization		13.5		13.4
Earnings before interest, taxes, depreciation, and amortization	$	388.2	$	606.8	(36.0) %
Restructuring plans¹		6.4		1.5
Corporate hedging derivative losses (gains)		(7.7)		6.8
Fire related costs, net		—		0.6
Impairment of business held for sale		27.2		—
Legal matters		95.8		17.9
Acquisitions and divestitures		0.3		—
Ardent JV restructuring activities		3.6		—
Adjusted Earnings before interest, taxes, depreciation, and amortization	$	513.8	$	633.6	(18.9) %


	Q3 FY25 YTD		Q3 FY24 YTD		% Change
Net income attributable to Conagra Brands, Inc.	$	896.4	$	914.5	(2.0) %
Add Back: Income tax expense (benefit)		(33.5)		297.1
Income tax expense attributable to noncontrolling interests		—		(0.1)
Interest expense, net		314.9		325.8
Depreciation		254.5		251.5
Amortization		40.4		40.2
Earnings before interest, taxes, depreciation, and amortization	$	1,472.7	$	1,829.0	(19.5) %
Restructuring plans¹		88.5		23.3
Acquisitions and divestitures		0.3		0.2
Corporate hedging derivative losses (gains)		(17.3)		(9.6)
Fire related insurance recoveries, net		(17.0)		(2.2)
Impairment of business held for sale		27.2		34.2
Brand impairment charges		18.9		—
Consulting fees on tax matters		2.0		—
Loss on sale of business		2.3		—
Legal matters		99.2		31.9
Ardent JV restructuring activities		3.6		—
Adjusted Earnings before interest, taxes, depreciation, and amortization	$	1,680.4	$	1,906.8	(11.9) %

¹Excludes comparability items related to depreciation.

Conagra Brands, Inc. Reconciliation of Q3 FY25 QTD and YTD Equity Method Investment Earnings – YOY Change (in millions)
	Q3 FY25		Q3 FY24		% Change
Equity method investment earnings	$	47.4	$	41.2	15.0 %
Ardent JV restructuring activities		3.6		—	—
Adjusted equity method investment earnings	$	51.0	$	41.2	23.7 %


	Q3 FY25 YTD		Q3 FY24 YTD		% Change
Equity method investment earnings	$	125.0	$	131.0	(4.6) %
Ardent JV restructuring activities		3.6		—	—
Adjusted equity method investment earnings	$	128.6	$	131.0	(1.9) %

For more information, please contact:

MEDIA: Mike Cummins

312‑549‑5257

[email protected]

INVESTORS: Matthew Neisius

402‑240‑3226

[email protected]

View original content to download multimedia:https://www.prnewswire.com/news-releases/conagra-brands-reports-third-quarter-results-302419096.html

SOURCE Conagra Brands, Inc.

April 3, 2025 7:35 am

FTI Consulting to Release First Quarter 2025 Results and Host Conference Call

WASHINGTON, April 03, 2025 (GLOBE NEWSWIRE) — FTI Consulting, Inc. (NYSE: FCN) today announced that it will release financial results for the first quarter ended March 31, 2025 before the New York market opens on Thursday, April 24, 2025.

A conference call will be held to discuss these financial results on Thursday, April 24, 2025, at 9:00 a.m. Eastern Time and will be hosted by senior management.

The conference call will be simulcast live on the Internet and can be accessed by logging onto the Company’s investor relations website. A replay of the webcast will be available on the Company’s investor relations website for 90 days.

About FTI Consulting

FTI Consulting, Inc. is a leading global expert firm for organizations facing crisis and transformation, with more than 8,300 employees located in 34 countries and territories as of December 31, 2024. In certain jurisdictions, FTI Consulting’s services are provided through distinct legal entities that are separately capitalized and independently managed. The Company generated $3.70 billion in revenues during fiscal year 2024. More information can be found at www.fticonsulting.com.

FTI Consulting, Inc.

555 12^th Street NW
Washington, DC 20004
+1.202.312.9100

Investor Contact:

Mollie Hawkes
+1.617.747.1791
[email protected]

April 3, 2025 7:35 am

Trevi Therapeutics to Participate in Upcoming April Investor Conferences

PR Newswire

NEW HAVEN, Conn.
, April 3, 2025 /PRNewswire/ — Trevi Therapeutics, Inc. (Nasdaq: TRVI), a clinical-stage biopharmaceutical company developing the investigational therapy Haduvio™ (oral nalbuphine ER) for the treatment of chronic cough in patients with idiopathic pulmonary fibrosis (IPF) and refractory chronic cough (RCC), today announced that senior management will be participating in the following investor conferences in April.

24th Ann

ual Needham Virtual Healthcare Conference

April 7-10, 2025

Corporate Presentation: April 7, 11:00-11:40 a.m. ET
Trevi Representatives: Jennifer Good, President and CEO, and Farrell Simon, CCO
Register here to watch the live presentation.

Jones Healthcare and Technology Innovation Conference

April 8-9, 2025, Las Vegas, Nevada

Corporate Presentation: April 9, 11:00-11:20 a.m. PT
Trevi Presenter:Jennifer Good, President and CEO
Presentation available to in-person attendees.

Piper Sandler Spring Biopharma Symposium

April 16-17, 2025, Boston, Massachusetts
Trevi Representatives: Jennifer Good, President and CEO, and James Cassella, CDO

About Trevi Therapeutics, Inc.
Trevi Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing the investigational therapy Haduvio™ (oral nalbuphine extended-release) for the treatment of chronic cough in patients with idiopathic pulmonary fibrosis (IPF) and refractory chronic cough (RCC). Haduvio is the first and only therapy in clinical development to show a statistically significant reduction in chronic cough across patients with both IPF and RCC. Haduvio acts on the cough reflex arc both centrally and peripherally as a kappa agonist and a mu antagonist (KAMA), which are opioid receptors that play a key role in controlling cough hypersensitivity. Nalbuphine is not currently scheduled by the U.S. Drug Enforcement Agency.

Chronic cough is a highly prevalent condition in IPF patients, impacting up to 85% of the IPF population. There are ~140,000 U.S. IPF patients and the impact of chronic cough is significant with patients coughing up to 1,500 times per day. This consistent cough and any associated damage may lead to worsening disease, a higher risk of progression, death, or need for lung transplant. Chronic cough also often leads to a decline in patients’ social, physical, and psychological quality of life. There are no approved therapies for the treatment of chronic cough in patients with IPF and current off-label treatment options provide minimal benefit to patients.

Refractory chronic cough has no approved therapies in the U.S. and is defined as a persistent cough lasting >8 weeks despite treatment for an underlying condition (i.e., asthma, gastroesophageal reflux disease, non-asthmatic eosinophilic bronchitis, and upper airway cough syndrome or post-nasal drip) and includes unexplained chronic cough. RCC affects ~2-3 million patients in the U.S. and is caused by cough reflex hypersensitivity in both the central and peripheral nerves. It is a highly debilitating disease and accompanied by a wide range of complications, ranging from urinary incontinence in females to sleep disruption and social embarrassment that causes significant social and economic burdens for patients and those around them.

Trevi intends to propose Haduvio as the trade name for oral nalbuphine ER. Its safety and efficacy have not been evaluated by any regulatory authority.

For more information, visit www.TreviTherapeutics.com and follow Trevi on X (formerly Twitter) and LinkedIn.

Investor Contact

Jonathan Carlson

Trevi Therapeutics, Inc.
(203) 654 3286
[email protected]

Media Contact

Rosalia Scampoli

914-815-1465
[email protected]

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SOURCE Trevi Therapeutics, Inc.

April 3, 2025 7:35 am

Aveanna Healthcare Holdings Announces Agreement to Acquire Thrive Skilled Pediatric Care

ATLANTA, April 03, 2025 (GLOBE NEWSWIRE) — Aveanna Healthcare Holdings Inc. (NASDAQ: AVAH), a leading, diversified home care platform focused on providing care to medically complex, high-cost patient populations, today announced that it has entered into an agreement to acquire Thrive Skilled Pediatric Care (“Thrive SPC”). The transaction is expected to close in the second fiscal quarter of 2025, subject to customary regulatory approvals.

Thrive SPC is one of the largest independent providers of pediatric home care with 23 locations in seven states including Arizona, Georgia, Kansas, New Mexico, North Carolina, Virginia, and Texas. Thrive SPC primarily provides skilled Private Duty Nursing services, but also provides Pediatric Therapy, Licensed Health Aide Services, and Certified Nurse Assistant Services. The combination with Thrive SPC creates an enhanced footprint in existing states while also introducing Aveanna’s specialized care model into two new states.

“I am thrilled to welcome the entire Thrive Skilled Pediatric Care team to Aveanna,” said Jeff Shaner, Chief Executive Officer of Aveanna. “Like Aveanna, Thrive SPC is committed to delivering high-quality and patient centered clinical care that leads to exceptional outcomes for patients and families. Thrive SPC is an exceptional cultural and geographical fit for us and reinforces our strategic mission of remaining the leader in delivering high quality care while bringing unprecedented value and clinical innovation to our payors and stakeholders. We’re excited to welcome Thrive SPC’s patients and care professionals to our Aveanna family.”

Thrive SPC was founded with the support of Summit Partners, a leading growth investment firm. “The announcement today marks a significant milestone in Thrive SPC’s journey of building one of the leading providers of skilled in-home care to medically fragile children. The combination with Aveanna represents an exciting opportunity for Thrive SPC and all those who depend on the critical care the company delivers each day,” said Ross Stern, a Managing Director at Summit Partners. “We believe Aveanna is an ideal partner for Thrive SPC, given the combined company’s shared vision for delivering the highest quality care to patients and innovative and cost-effective solutions to its payors. We are conﬁdent that this transaction will position the combined company to deliver compelling benefits for patients and families going forward.”

Aveanna intends to fund the Thrive SPC acquisition from a combination of sources, including shares of common stock and cash from its balance sheet.

Edge Healthcare Partners served as financial advisor to Aveanna, and Bass, Berry & Sims provided legal counsel. Cantor Fitzgerald & Co. served as financial advisor to Thrive SPC while Ropes & Gray LLP served as Thrive SPC’s legal advisor.

About Aveanna Healthcare

Aveanna Healthcare is headquartered in Atlanta, Georgia and has locations in 34 states providing a broad range of pediatric and adult healthcare services including nursing, rehabilitation services, occupational nursing in schools, therapy services, day treatment centers for medically fragile and chronically ill children and adults, home health and hospice services, as well as delivery of enteral nutrition and other products to patients. The Company also provides case management services in order to assist families and patients by coordinating the provision of services between insurers or other payers, physicians, hospitals, and other healthcare providers. In addition, the Company provides respite healthcare services, which are temporary care provider services provided in relief of the patient’s normal caregiver. The Company’s services are designed to provide a high quality, lower cost alternative to prolonged hospitalization. For more information, please visit www.aveanna.com.

Forward-Looking Statements

Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements (other than statements of historical facts) in this press release regarding our prospects, plans, financial position, business strategy and expected financial and operational results may constitute forward-looking statements. Forward-looking statements generally can be identified by the use of terminology such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “seek,” “will,” “may,” “should,” “would,” “predict,” “project,” “potential,” “continue,” “could,” “design,” “guidance,” or the negatives of these terms or variations of them or similar expressions. These statements are based on certain assumptions that we have made in light of our experience in the industry as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate in these circumstances. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. Forward-looking statements involve a number of risks and uncertainties that may cause actual results to differ materially from those expressed or implied by such forward-looking statements, such as our ability to successfully execute our growth strategy, including through organic growth and the completion of acquisitions, effective integration of the companies we acquire, unexpected costs of acquisitions and dispositions, the possibility that expected cost synergies may not materialize as expected, the failure of Aveanna or the companies we acquire to perform as expected, estimation inaccuracies in revenue recognition, our ability to drive margin leverage through lower costs, unexpected increases in SG&A and other expenses, changes in reimbursement, changes in government regulations, changes in Aveanna’s relationships with referral sources, increased competition for Aveanna’s services or wage inflation, the failure to retain or attract employees, changes in the interpretation of government regulations or discretionary determinations made by government officials, uncertainties regarding the outcome of rate discussions with managed care organizations and our ability to effectively collect our cash from these organizations, changes in the case-mix of our patients, as well as the payor mix and payment methodologies, legal proceedings, claims or governmental inquiries, our ability to effectively collect and submit data required under Electronic Visit Verification regulations, our ability to comply with the terms and conditions of the CMS Review Choice Demonstration program, our ability to effectively implement and transition to new electronic medical record systems or billing and collection systems, a failure to maintain the security and functionality of our information systems or to defend against or otherwise prevent a cybersecurity attack or breach, changes in tax rates, our substantial indebtedness, the impact of adverse weather, and other risks set forth under the heading “Risk Factors” in Aveanna’s Annual Report on Form 10-K for its 2024 fiscal year filed with the Securities and Exchange Commission on March 13, 2025, which is available at www.sec.gov. In addition, these forward-looking statements necessarily depend upon assumptions, estimates and dates that may prove to be incorrect or imprecise. Accordingly, forward-looking statements included in this press release do not purport to be predictions of future events or circumstances, and actual results may differ materially from those expressed by forward-looking statements. All forward-looking statements speak only as of the date made, and Aveanna undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Investor Contact

Matt Buckhalter
Chief Financial Officer
[email protected]

Media Contact

Kekst CNC
Ross Lovern
[email protected]

Thomas Davies
[email protected]

April 3, 2025 7:35 am

Top Kingwin Ltd’s Subsidiary Tiancheng Chuangxin Technology Announces its Plan to Launch Desktop Robot 1.0 – Redefining the Smart Office Companion

GuangZhou, China, April 03, 2025 (GLOBE NEWSWIRE) — Top Kingwin Ltd (NASDAQ: WAI) is pleased to announce that its subsidiary, Shenzhen Tiancheng Chuangxin Technology Co., Ltd. (“Chuangxin Tech”), has announced its plan of releasing a self-developed Desktop Robot 1.0. This innovative product will integrate artificial intelligence (“AI”) with emotional interaction, aiming to deliver a smarter and more empathetic office and lifestyle experience.

As a desktop AI companion, the robot aims to offer multiple practical features such as:

Smart Reminders: Prompts users to hydrate regularly and take breaks.
Emotional Feedback: Displays adaptive personality traits based on interaction contexts.
Dynamic Mobility: Equipped with bipedal movement and motion interaction for engaging companionship.
Safety Design: High-precision distance sensors prevent falls from desk edges.

Technical Highlights:

Runs on an Android-based smart system with smart home connectivity and third-party app support.
360° environmental monitoring for desktop security.
Integrated with cutting-edge AI models (ChatGPT, DeepSeek, Grok) for advanced tasks, such as information retrieval and document processing.

“We aim to break the cold barrier of tech products,” said [Product Director Jiale Wu] of Chuangxin Tech. “This robot is both a productivity tool and a life companion that understand user’s needs.” Currently in final testing phase, the product is slated for market launch in Q2 2026.

About Top KingWin Ltd

Top KingWin’s main clients are entrepreneurs and executives in small and medium-sized enterprises in China. Services provided by Top KingWin to its clients including (i) corporate business training services, which mainly focus on providing training services of advanced knowledge and new perspectives on the capital markets, (ii) corporate consulting services, which mainly focus on providing a combination of customized corporate consulting services to fulfill client’s unique financial needs, and (iii) advisory and transaction services, which mainly focus on connecting entrepreneurs and businesses with diversified sources of capital. Its mission is to provide comprehensive services to address clients’ needs throughout all phases of their development and growth. We started venturing into AI-powered IT solutions since September 2024.

Forward-Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical fact in this press release are forward-looking statements, including but not limited to, the use of proceeds from the Company’s offering, the intent, belief or current expectations of Top KingWin and members of its management, as well as the assumptions on which such statements are based. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the SEC.

For more information, please contact:

Bonnie

Email: [email protected]

SOURCE: Top Kingwin Ltd