ConAgra Foods Second-Quarter Comparable EPS as Planned; Fiscal 2015 EPS Guidance and Debt Reduction Goal Reaffirmed; Consumer and Commercial Fundamentals Improve; Private Brands Declines, Recognizes Impairment

Dec. 23, 2014

OMAHA, Neb.--(BUSINESS WIRE)--ConAgra Foods, Inc., (NYSE: CAG) one of North America’s leading food companies, today reported results for the fiscal 2015 second quarter ended Nov. 23, 2014. Diluted EPS from continuing operations was $0.05 as reported for the fiscal second quarter vs. $0.48 in the year-ago period. After adjusting for items impacting comparability, comparable diluted EPS was $0.61 this quarter and $0.62 in the year-ago period. Items impacting comparability are summarized toward the end of this release and reconciled for Regulation G purposes on page 11.

Gary Rodkin, ConAgra Foods’ chief executive officer, said, “We are pleased that the fundamentals in our Consumer Foods and Commercial Foods segments are improving. Key retail brands are strengthening, Lamb Weston is gaining domestic share and benefitting from a better quality potato crop, and we are generating COGS and SG&A efficiencies across our operations. EPS came in as planned this quarter; despite challenges in one of our segments, we have reaffirmed our full-year EPS guidance because we expect two of our segments to continue to deliver good performance, and for our whole organization to continue generating strong productivity and efficiencies.”

“Based on current executional challenges, we expect the recovery in the Private Brands segment to take longer than previously expected. Our team is highly focused on opportunities to drive improved execution in this segment over the next several quarters, and we expect these efforts to enable the segment to grow profits in fiscal 2016. We remain confident in the long-term potential for our Private Brands segment given the important role of these products to consumers and trade customers and our ability to utilize our infrastructure to add value for customers.” Full report


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Conagra Brands

May 30, 2007
Conagra Brands (NYSE: CAG), headquartered in Chicago, combines a rich heritage of making great food with a sharpened focus and entrepreneurial spirit. We’re transforming the way...