ConAgra Foods Reports Strong Second-Quarter EPS

Source: FoodProcessing.com

Dec 23, 2009

ConAgraFoods.com

ConAgra Foods reported results for the fiscal 2010 second quarter ended Nov. 29, 2009. Diluted EPS from continuing operations was $0.55 compared with $0.38 a year ago. Current quarter results include $0.03 per diluted share of net benefit, and prior year amounts included $0.05 of net expense, from items impacting comparability. Diluted EPS from continuing operations was up 45% as reported and 21% on a comparable basis.

Items impacting comparability in the current year and prior year are summarized on ConAgra's Website with information including:
  • Diluted EPS from continuing operations of $0.55 as reported, and $0.52 excluding items impacting comparability; up 45% as reported and up 21% on a comparable basis.
  • Consumer Foods’ operating profits increased 31%.
  • Consumer Foods’ sales increased 3% and unit volumes increased 2%.
  • Commercial Foods’ operating profits increased 1%.
  • Fiscal 2010 diluted EPS from continuing operations, excluding items impacting comparability, now expected to approach $1.73.

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