ConAgra Brands (CAG) Misses Q4 EPS by 5c, Offers FY Guidance
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ConAgra Brands (NYSE: CAG) reported Q4 EPS of $0.36, $0.05 worse than the analyst estimate of $0.41. Revenue for the quarter came in at $2.61 billion versus the consensus estimate of $2.66 billion.
ConAgra Brands sees FY2020 EPS of $2.08-$2.18, versus the consensus of $2.16.
The Company is providing updated and expanded fiscal 2020 guidance metrics. Note that organic net sales growth excludes the impact of fiscal 2020's 53rd week. All other metrics include the impact of the 53rd week.
- Organic net sales growth of 1.0% to 1.5%
- Reported net sales growth of 13.5% to 14.0%
- Adjusted operating margin in the range of 16.2% to 16.8%
- Adjusted net interest expense of approximately $505 million
- Adjusted effective tax rate of 24% to 25%
- Average diluted share count of approximately 488 million
- At its Investor Day in April 2019, the Company provided preliminary fiscal 2020 adjusted EPS guidance of $2.10 to $2.20. With the Gelit divestiture now complete, the Company is removing $0.02 of adjusted EPS from its fiscal 2020 guidance to reflect the historical profit contribution from that business. The Company now
For earnings history and earnings-related data on ConAgra Brands (CAG) click here.
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