ConAgra Brands (CAG) Tops Q1 EPS by 6c, Reaffirms FY Guidance

ConAgra Brands (NYSE: CAG) reported Q1 EPS of $0.46, $0.06 better than the analyst estimate of $0.40. Revenue for the quarter came in at $1.8 billion versus the consensus estimate of $1.78 billion.

The Company is reaffirming its fiscal 2018 guidance as summarized below:

• Reported net sales growth in the range of (2)% to flat
• Organic net sales growth in the range of (2)% to flat
• Adjusted operating margin in the range of 15.9% to 16.3%
• Effective tax rate in the range of 32.5% to 33.5%
• Adjusted diluted EPS from continuing operations in the range of $1.84 to $1.89
• The Company expects to repurchase approximately $1.1 billion of shares of its common stock in the fiscal year, subject to market and other conditions
• Input cost inflation is now expected to be approximately 3.3% for the full fiscal year. The impact of inflation is expected to be weighted to the first half of the fiscal year.

For earnings history and earnings-related data on ConAgra Brands (CAG) click here.

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