ConAgra (CAG) Reaffirms FY13 EPS Outlook

Today, October 15, 2012, members of senior management of ConAgra Foods, Inc. (NYSE: CAG) will meet with members of the investment community. The Company expects to affirm its previously announced guidance of fiscal 2013 full-year diluted earnings per share ("EPS"), adjusted for items impacting comparability, to be in the range of $2.03 - $2.06. The Company also expects fiscal 2013 operating cash flow to exceed $1.2 billion and long-term annual EPS growth, adjusted for items impacting comparability, of 6 to 8%.

This Current Report on Form 8-K includes the non-GAAP financial measure of diluted EPS, adjusted for items impacting comparability. Management considers GAAP financial measures as well as such non-GAAP financial information in its evaluation of the Company’s financial statements and believes this non-GAAP measure provides useful supplemental information to assess the Company’s operating performance and financial position. The inability to predict the timing and amount of future items impacting comparability makes a detailed reconciliation of earnings per share growth and return on invested capital impracticable.

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