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Last $36.53 USD
Change Today -0.37 / -1.00%
Volume 4.0M
CAG On Other Exchanges
Symbol
Exchange
New York
Stuttgart
As of 8:04 PM 03/31/15 All times are local (Market data is delayed by at least 15 minutes).

conagra foods inc (CAG) Key Developments

ConAgra Foods, Inc. Reports Unaudited Consolidated Earnings Results for the Thirteen Weeks and Thirty Nine Weeks Ended February 22, 2015; Provides Earnings Guidance for the Year 2015

ConAgra Foods, Inc. reported unaudited consolidated earnings results for the thirteen weeks and thirty nine weeks ended February 22, 2015. For the period, the company reported net sales of $3,876.7 million compared to $3,947.3 million a year ago. Loss from continuing operations was $952.1 million compared to income from continuing operations of $226.1 million a year ago. Net loss was $952.7 million compared to net income of $236.9 million a year ago. Net loss attributable to the company was $954.1 million compared to net income attributable to the company of $234.3 million a year ago. Diluted loss per share from continuing operations was $2.23 compared to diluted earnings per share from continuing operations of $0.52 a year ago. Diluted loss per share was $2.23 compared to diluted earnings per share of $0.55 a year ago. Capital expenditures were $116 million against $133 million in the prior year quarter. For the thirty nine weeks, the company reported net sales of $11,727.7 million compared to $11,884.2 million a year ago. Loss from continuing operations was $814.3 million compared to income from continuing operations of $569.9 million a year ago. Net loss was $452.3 million compared to net income of $636.5 million a year ago. Net loss attributable to the company was $461.8 million compared to net income attributable to the company of $627.3 million a year ago. Diluted loss per share from continuing operations was $1.94 compared to diluted earnings per share from continuing operations of $1.31 a year ago. Diluted loss per share was $1.09 compared to diluted earnings per share of $1.46 a year ago. Net cash flows from operating activities were $740.5 million compared to $968.0 million a year ago. Additions to property, plant and equipment was $318.4 million compared to $475.2 million a year ago. Purchase of business, net of cash acquired was $74.7 million compared to $39.9 million a year ago. The company now expects fiscal 2015 diluted EPS, adjusted for items impacting comparability, to be in the range of $2.15 to $2.19. The company now expects operating cash flow to approximate $1.55 billion, slightly below the prior forecast of $1.6 billion; the revision reflects higher inventory levels due to certain crop-based inputs and higher raw material costs. The company continues to expect to reduce debt by a total of $1 billion in fiscal 2015, thereby completing its broader debt reduction goals for the fiscal 2013-2015 period. And for the full fiscal year, the company now expect CapEx to be in the range of $500 million, somewhat lower than the previous estimate.

ConAgra Foods, Inc. Announces Impairment Charges for the Third Quarter Ended February 22, 2015

ConAgra Foods, Inc. announced impairment of goodwill and other intangible assets of $1,299 million for the third quarter ended February 22, 2015.

ConAgra Foods, Inc. Provides Earnings Guidance for the Third Quarter and Fourth Quarter of Fiscal 2015

ConAgra Foods, Inc. provided earnings guidance for the third quarter and fourth quarter of fiscal 2015. For the third quarter, the company currently expects comparable EPS to be in the range of $0.10 below the comparable $0.62 earned in the third quarter of fiscal 2014. Growth in comparable 2015 fiscal fourth-quarter EPS partially due to the fifty-third week this fiscal year.

ConAgra Foods Inc. Revises Earnings Guidance for the Year 2015

ConAgra Foods Inc. revised earnings guidance for the year 2015. For the year, the company's earnings per share between $2.13 and $2.18, comparable EPS is expected to be lower than previously planned. Because the strong dollar has hurt profits. Operating cash flow is expected to approximate $1.6 billion.

ConAgra Foods, Inc. Appoints Sean Connolly as President and Chief Executive Officer, Effective as of the later of April 6, 2015

On February 12, 2015, the ConAgra Foods, Inc. announced that the board of directors of the company has appointed Sean Connolly, to become the company’s President and Chief Executive Officer, effective as of the later of April 6, 2015 and the date immediately following the date upon which the company’s quarterly report on Form 10-Q for the period ended February 22, 2015 is filed with the SEC. Prior to joining the company, from June 2012 to August 2014, Mr. Connolly was President and Chief Executive Officer of The Hillshire Brands company. Mr. Connolly ceased serving as Hillshire’s President and Chief Executive Officer in connection with Hillshire’s merger with a subsidiary of Tyson Foods, Inc. From January 2012 to June 2012, Mr. Connolly was Executive Vice President of Sara Lee Corporation (the former name of Hillshire) and Chief Executive Officer, Sara Lee North American Retail and Foodservice. Also with Campbell, Mr. Connolly served as President, Campbell USA from 2008 to 2010, and President, North American Foodservice from 2007 to 2008. Before joining Campbell in 2002, Mr. Connolly served in various marketing and brand management roles at Procter & Gamble for a decade. In August 2014, Gary M. Rodkin, President and Chief Executive Officer of the Company, had informed the company of his intention to retire as President and Chief Executive Officer at the end of the company's fiscal year or following the on-boarding of his successor.

 

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Price/Earnings NM Not Meaningful
Price/Sales 0.9x
Price/Book 3.5x
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TEV/Sales 0.4x
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