ConAgra Foods (CAG) Reports In-Line Q4 EPS

ConAgra Foods (NYSE: CAG) reported Q4 EPS of $0.52, in-line with the analyst estimate of $0.52. Revenue for the quarter came in at $2.83 billion versus the consensus estimate of $2.89 billion.

Outlook

The company plans to separate into two independent pure play companies, Conagra Brands and Lamb Weston. The transaction is expected to be structured as a spin-off of the Lamb Weston business, tax free to the company and its shareholders, in the fall of calendar 2016. Prior to the spin-off, each company will host investor events to outline financial goals and priorities.

The company plans to report its fiscal 2017 first quarter results in the ordinary course, as a consolidated enterprise, in September 2016. We expect that first quarter fiscal 2017 will show double-digit comparable year-over-year EPS growth due to a continuation of the productivity, price/mix, and cost discipline initiatives underway, as well as lower interest expense.

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

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