ConAgra Brands (CAG) Tops Q3 EPS by 5c, FY EPS Guidance Tops Views
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ConAgra Brands (NYSE: CAG) reported Q3 EPS of $0.61, $0.05 better than the analyst estimate of $0.56. Revenue for the quarter came in at $1.99 billion versus the consensus estimate of $2 billion.
ConAgra Brands sees FY2018 EPS of $2.03-$2.05, versus the consensus of $2.01.
The Company is updating its fiscal 2018 guidance as summarized below:
Items being reiterated
- Organic net sales growth near the high end of the range of (2)% to flat.
- Adjusted operating margin near the low end of the range of 15.9% to 16.3%.
- Effective tax rate of in the range of 29% to 30%.
- The repurchase of approximately $1.1 billion of shares of its common stock in the fiscal year, subject to market and other conditions.
- Input cost inflation of approximately 3.7% for the full fiscal year.
Items being updated
- Reported net sales growth approximately 150 basis points higher than the organic net sales growth rate due to the impacts of acquisitions and foreign exchange.
- Adjusted diluted EPS from continuing operations in the range of $2.03 to $2.05.
For earnings history and earnings-related data on ConAgra Brands (CAG) click here.
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