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ConAgra (CAG) Q2 Earnings In-line, Revenues Miss - Tale of the Tape

Zacks Equity Research
Updated

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.
 
This is especially true given the recent earnings estimate revisions for ConAgra, as the consensus estimate has moved up in the last few months. In the last four trailing quarters, CAG has reported a positive average earnings surprise of 6.00%, missing the estimate only once.
 
Currently, CAG has a Zacks Rank #3 (Hold), 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 second quarter of fiscal 2015, came in at 61 cents. The earnings were in-line with the Zacks Consensus Estimate.
 
Revenue: Revenues missed. ConAgra posted revenues of $4,150 million that missed the Zacks Consensus Estimate of $4,199 million, by 1.2%.
 
Key Stats to Note: Recently, CAG’s joint venture business with Netherlands’ Meijer Frozen Foods has planned to shell out roughly $150 million for its frozen potato trade in Bergen op Zoom, the Netherlands. The company has also kick-started its first plant in China by inaugurating a new Lamb Weston potato dispensation facility in Shangdu, Inner Mongolia.
 
Stock Price:  Shares prices did not show any movement in the pre-market trading session.
 
Check back our full write up on this CAG earnings report later!
 

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CONAGRA FOODS (CAG): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research