ConAgra Foods (CAG) Reports In-Line Q2 EPS

ConAgra Foods (NYSE: CAG) reported Q2 EPS of $0.61, in-line with the analyst estimate of $0.61. Revenue for the quarter came in at $4.15 billion versus the consensus estimate of $4.2 billion.

• Consumer Foods sales decreased 2%, with volume down 1%, largely as expected. Key brands are stabilizing as planned. Comparable segment operating profit increased.
• Commercial Foods sales and comparable operating profit grew as the segment gained domestic share and benefitted from better potato crop quality.
• Private Brands profits were substantially below year ago amounts, reflecting pricing concessions made last fiscal year which have not yet been lapped, weak volumes resulting from an intense bidding environment, and higher commodity costs.

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

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