Conagra Brands, Inc. CAG has carved a name for itself in the processed & packaging food industry with superior processed food items for household and commercial clients.
Currently, CAG has a Zacks Rank #2 (Buy), but that could definitely change after the release of its second-quarter fiscal 2018 (ended November, 2017) results. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: CAG’s adjusted earnings from continuing operations in second-quarter fiscal 2018, came in at 55 cents, above with the Zacks Consensus Estimate of 52 cents.
Revenue: CAG posted revenues of $2,173.4 million, above the Zacks Consensus Estimate of $2,070 million.
Key Stats: CAG is poised to grow on the back of stronger sales, greater innovation and efficient operations. The company anticipates to accrue earnings near the higher-end of the previously stated guidance range of $1.84-$1.89 per share for fiscal 2018. The company anticipates to experience input cost inflation of roughly 3.7% for fiscal 2018.
Stock Price: At the time of writing, the stock price of CAG was up nearly 3.07% ($1.17) in the pre-market trade on Nasdaq. Clearly the initial reaction to the release is optimistic. We view the company’s better-than-expected second-quarter 2018 result as the primary reason behind the positive sentiment.
Shares prices of CAG did not change on a pre-market trading basis.
As of Dec 20, 2017, CAG’s closed the trading session at $38.14 per share.
Check back our full write up on this CAG earnings report later!
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