ConAgra (CAG) Tops Q3 Earnings, Barely Beats Revenues - Tale of the Tape
ConAgra Foods, Inc. (CAG) has carved a name for itself in the processed & packaged food industry with superior processed food items for household and commercial clients. The product portfolio of this Omaha, NE-headquartered firm includes leading consumer brands that are found in 99% of America’s households.
However, this largest packaged food business of North America faces price volatility for raw materials much like its industry peers. As the extent of industry competition is increasing over time, investors have been eagerly awaiting for the company’s latest earnings report.
This is especially true given the recent earnings estimate revisions for ConAgra, as the consensus estimate has moved down in the last few months. In the last four trailing quarters, CAG has reported a positive average earnings surprise of 4.8%, missing the estimate only once.
Currently, CAG has a Zacks Rank #4 (Sell), but that could definitely change after the release of its upcoming earnings report. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings:ConAgra’s earnings from continuing operations, adjusted for items impacting comparability, in the third quarter of fiscal 2015, came in at 59 cents. The earnings were above with the Zacks Consensus Estimate of 53 cents.
Revenue:ConAgra posted revenues of $3876.7 million and hence marginally surpassed the Zacks Consensus Estimate of $3,876 million.
Key Stats to Note: ConAgra expects earnings within the range of $2.15-$2.19 for fiscal 2015 and claims to reduce its debt roughly by $1 billion with specialized debt reduction programs. The company generated better than expected third-quarter fiscal 2015 results on the back of superior surplus generated from its Commercial and Consumer Foods’ Segment. However, its Private Brands’ business is anticipated to improve since early 2016.
Stock Price: Shares prices of CAG increased by 1.6% on a pre-market trading basis.
Check back our full write up on this CAG earnings report later!
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CONAGRA FOODS (CAG): Free Stock Analysis Report
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