Conagra Brands CFO David Marberger said inflation in logistics and transportation costs accelerated during the fiscal first quarter ended Aug. 30, driven by a driver shortage and oil prices. Although the company received some relief in protein costs, Marberger expects inflation to rise in fiscal Q2 and Q3 before easing at the end of the fiscal year in May. He expects the full-year rate to approach the upper end of Conagra's forecast range of 5% to 6%. The Chicago-based maker of Slim Jim snacks and Bird's Eye frozen vegetables reaffirmed its fiscal 2027 guidance for organic net sales to decline between 3% and 1% from fiscal 2026. New CEO John Brase is pursuing a turnaround centered on simplifying the company's product portfolio and operations, including reviewing more than 400 single-serve meal SKUs (stock-keeping units, or distinct products). Conagra said pricing actions intended to offset inflation have contributed to lower volume in its frozen business. The company received about $4 million in tariff refunds during the quarter, but those benefits were offset by lower organic net sales and inflation in the cost of goods sold. Net income rose 6% to $174.3 million, while total debt fell to $7.76 billion from $8.27 billion a year earlier.