SmarTrend(R) News Watch: ConAgra Misses By A Penny, Guides Inline

Thu. June 25, 2009; Posted: 08:31 AM

Jun 25, 2009 (SmarTrend(R) News Watch via COMTEX) -- CAG | Quote | Chart | News | PowerRating -- ConAgra (NYSE:CAG) reported fiscal Q4 EPS of 41 cents, ex-items, missing consensus estimates by a penny. Revenues in the quarter rose 8% year-over-year to $3.30 billion, but came in short of consensus estimates of $3.33 billion. Gary Rodkin, ConAgra Foods' Chief Executive Officer, said, "Given our strengthening execution, moderating inflation, and the benefit of innovation, we are in a good position to deliver healthy EPS growth in fiscal 2010 while increasing investment in our brands. Our estimate of fiscal 2010 diluted EPS from continuing operations is $1.63-$1.66 per share, excluding items impacting comparability. We will provide investors with the customary updates on our progress and expectations throughout the fiscal year." Analysts, on average, expect the company report fiscal 2010 EPS of $1.63.

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on Conagra Foods (CAG) click here. Conagra Foods (CAG) has Short Term PowerRatings of 6. Details on Conagra Foods (CAG) Short Term PowerRatings is available at This Link.

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