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Thursday, December 21, 2017

=ConAgra (CAG) reported earnings on Thur 21 Dec 2017 (b/o)

ConAgra beats by $0.03, beats on revs; guides FY18 at high end of prior range 
  • Reports Q2 (Nov) earnings of $0.55 per share, $0.03 better than the Capital IQ Consensus of $0.52; revenues rose 4.1% year/year to $2.17 bln vs the $2.07 bln Capital IQ Consensus; organic net sales grew 2.3% in the quarter with growth in each operating segment. The Company estimates that the recent hurricanes increased its net sales and organic net sales growth rates by ~220 basis points. The Refrigerated & Frozen segment continued its growth momentum in the second quarter with 4% volume growth.
  • Co issues guidancefor FY18, sees EPS at high end of $1.84-1.89 range vs. $1.88 Capital IQ Consensus Estimate; sees FY18 revs 100-150 bps better than organic growth, which is expected ro be at the high end of flat to down 2%; so co sees FY18 rev +0-1.5% to ~$7.83-7.94 bln vs. $7.74 bln Capital IQ Consensus (including acquisitions and FX). Adjusted operating margin near the low end of the range of 15.9% to 16.3%. 

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