ConAgra Foods, Inc. CAG has carved a name for itself in the processed & packaging food industry with superior processed food items for household and commercial clients. The product portfolio of this Omaha, NE-headquartered firm includes leading consumer brands that are found in 99% of America’s households.
However, this largest packaged food business of North America faces price volatility for raw materials much like its industry peers. As the extent of industry competition is increasing over time, investors have been eagerly awaiting for the company’s latest earnings report.
Currently, ConAgra has a Zacks Rank #2 (Buy), but that could definitely change after the release of its upcoming earnings report. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: ConAgra’s earnings from continuing operations, adjusted for items impacting comparability, in the fourth-quarter of fiscal 2016, came in at 52 cents, in-line with the Zacks Consensus Estimate.
Revenue: ConAgra posted revenues of $2,827.5 million, below the Zacks Consensus Estimate of $2,908 million.
Key Stats to Note: ConAgra is trying to augment its business competency by reinforcing its existing product portfolio through new innovations and boosting shareholders’ value over time. For greater flexibility and operational efficiency, the company has decided to split its more profitable Commercial Foods segment and less profitable Consumer Foods segment into two separate public companies – ConAgra Brands and Lamb Weston – by the end of 2016.
Stock Price: Shares prices of CAG did not change on a pre-market trading basis.
Check back our full write up on this CAG earnings report later!
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