ConAgra Brands (CAG) Tops Q3 EPS by 2c, Offers Guidance
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Revenue Growth %: -2.9%
Financial Fact:
Net income attributable to ConAgra Foods, Inc.: 186.2M
Today's EPS Names:
SHIM, KOD, HEWA, More
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ConAgra Brands (NYSE: CAG) reported Q3 EPS of $0.51, $0.02 better than the analyst estimate of $0.49. Revenue for the quarter came in at $2.71 billion versus the consensus estimate of $2.77 billion.
Fiscal 2019 Outlook
With approximately two months left in fiscal 2019, and the sale of the Wesson oil business now complete, the Company is updating its fiscal 2019 outlook. Prior guidance included Wesson for the full fiscal year. The updated organic net sales growth guidance removes Wesson for the entire fiscal year. All other metrics include Wesson's actual results only for the time period the business was owned and now exclude expected results for the remainder of the fiscal year.
Total Conagra | Prior FY19 Guidance | Updated FY19 Guidance |
Organic Net Sales Growth(excl. Trenton impact) | +1.0% to +2.0% | Approximately +1% |
Adj. Gross Margin | 29.3% to 29.6% | Below Range |
Adj. Operating Margin | 14.9% to 15.2% | Above Range |
Adj. Effective Tax Rate | 24% to 25% | No Change |
Adj. Net Interest Expense | $390 to $395 million | Below Range |
Avg. Diluted Shares | ~ 446 million | No Change |
Adj. Diluted EPS from Cont. Ops. | $2.03 to $2.08 | No Change |
FY19 Synergies | $20 million | Above Range |
FY19 Transaction-Related Amortization | $17 million | No Change |
Pinnacle (incl. Pinnacle-related corporate expense) | Prior FY19 Guidance | Updated FY19 Guidance |
Reported Net Sales | $1.70 to $1.75 billion | $1.71 to $1.73 billion |
Adj. Operating Margin | 14.6% to 14.9% | Near High-End of Range |
For earnings history and earnings-related data on ConAgra Brands (CAG) click here.
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