ConAgra (CAG) Beats Q1 Views on Strong Cost Controls, Consumer Sales; Confidently Boosts Outlook
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Price: $16.27 +0.31%
Financial Fact:
Selling, general and administrative expenses: 281.5M
Today's EPS Names:
EDXC, BICX, FBPI, More
Financial Fact:
Selling, general and administrative expenses: 281.5M
Today's EPS Names:
EDXC, BICX, FBPI, More
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ConAgra Foods (NYSE: CAG) -- the maker of such delectable delicacies as Hunt's, Hebrew National, and Reddi Wip -- is trading higher Thursday morning following strong first-quarter 2013 results and boosted outlook.
Sales rose 6.7 percent to $3.31 billion, from $3.11 billion in the same period last year. Net income are the consumer staple giant popped 167 percent to $250.1 million, or 61 cents per share. Adjusting for certain one-time items impacting comparability results in first-quarter EPS of 44 cents.
Overall, the Street was modeling sales of $3.24 billion and EPS of 36 cents.
Consumer Foods sales rose 8 percent, representing 62 percent of overall sales. Commercial Foods sales popped 5 percent and took 38 percent of total sales. Operating profit rose 14 percent and 37 percent, respectively.
Looking to the rest of fiscal 2013, ConAgra boosted its EPS outlook to a range of $2.03 to $2.06, from prior expectations of a 6 percent to 8 percent gain over fiscal 2012 EPS of $1.84 (amounting to a range of $.95 to $1.99). The Street is currently at $1.98.
On the outlook boost, ConAgra cited operating capabilities, strategic initiatives, and prudent capital allocation.
Shares are up about 5.3 percent in early trading.
Sales rose 6.7 percent to $3.31 billion, from $3.11 billion in the same period last year. Net income are the consumer staple giant popped 167 percent to $250.1 million, or 61 cents per share. Adjusting for certain one-time items impacting comparability results in first-quarter EPS of 44 cents.
Overall, the Street was modeling sales of $3.24 billion and EPS of 36 cents.
Consumer Foods sales rose 8 percent, representing 62 percent of overall sales. Commercial Foods sales popped 5 percent and took 38 percent of total sales. Operating profit rose 14 percent and 37 percent, respectively.
Looking to the rest of fiscal 2013, ConAgra boosted its EPS outlook to a range of $2.03 to $2.06, from prior expectations of a 6 percent to 8 percent gain over fiscal 2012 EPS of $1.84 (amounting to a range of $.95 to $1.99). The Street is currently at $1.98.
On the outlook boost, ConAgra cited operating capabilities, strategic initiatives, and prudent capital allocation.
Shares are up about 5.3 percent in early trading.
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