Post-Earnings Insight - ConAgra Foods

LONDON, September 24, 2014 /PRNewswire/ --

Investor-Edge.com has issued free post-earnings insight on ConAgra Foods Inc. (NYSE: CAG). The company reported financial results on September 18, 2014 for Q1 FY15 ended August 24, 2014. During Q1 FY15, net income attributable to ConAgra Foods, Inc. surged 234.2% on a Y-o-Y basis and its adjusted diluted EPS grew 2 cents from the year ago quarter. Our free coverage report can be accessed at:

www.investor-edge.com/register

Earnings Overview  

ConAgra Foods Inc.'s total sales for Q1 FY15 decreased 0.4% to $3,701.0 million from $3,715.8 million in the previous year quarter. The reported quarter sales fell short of Bloomberg analysts' forecasts of $3,726.0 million. During Q1 FY15, sales declined 1.0% Y-o-Y in its Consumer Foods segment to $1,632.3 million, and reduced 1.7% Y-o-Y for Private Brands to $980.4 million. However, the company's sales from Commercial Foods segment grew to $1,088.3 million in Q1 FY15, reflecting a Y-o-Y increase of 1.8%. The free research on CAG can be downloaded as in PDF format at:

www.Investor-Edge.com/CAGFreeReport

During Q1 FY15, the company's total operating profit declined by 4.0% to $353.0 million, from $367.6 million, in the preceding year quarter. The company's operating profit from Commercial Foods segment fell by 11.7% Y-o-Y to $121.1 million, primarily due to a less favorable product mix and comparatively weak potato crop quality. Operating profit from Private Brands also declined 36.0% Y-o-Y to $41.9 million, attributable largely to pricing concessions made in FY14 and temporarily higher supply chain costs. On the other hand, operating profit from Consumer Foods segment increased 15.2% Y-o-Y to $190.0 million. Net income attributable to ConAgra Foods Inc. during the reported quarter more than tripled to $482.3 million (or $1.12 per diluted share), from $144.3 million (or $0.34 per diluted share) in the previous year quarter. However, income from continuing operations declined to $0.25 per share, from $0.30 per share, in Q1 FY14. Analysts from Bloomberg were expecting the company to report net income of $159.3 million or $0.34 per share in the reported period. On an adjusted basis, the company's Q1 FY15 EPS increased to $0.39, from $0.37, in the prior year period. Sign up and read the free analyst's notes on CAG at:

www.Investor-Edge.com/CAG-24092014

Gary Rodkin, CEO of ConAgra Foods, said that the company had a good start to FY15 which demonstrated its improving fundamentals and better execution. He stated that the volume for Consumer Foods is showing recovery, Lamb Weston's foodservice channel sales are robust and cost savings programs across the company are coming in as planned. According to Mr. Rodkin, the company continues to be confident that fiscal 2015 will be a year of stabilization and recovery.

For FY 15, ConAgra Foods expects EPS to show a mid-single digit rate of growth over FY14 EPS of $2.17. The company's operating cash flow for FY15 is expected to be approximately $1.6-$1.7 billion. Further, for Q2 FY15, comparable EPS is projected to be in line with year-ago amounts given the strong comparable EPS performance in Q2 FY14.

Stock Performance 

On the day of earnings release, September 18, 2014, shares in ConAgra Foods Inc. surged 4.59%, ending the session at $33.48. The stock, which hasn't witnessed any major movement since then, closed at $33.14 on the last trading session, Tuesday, September 23, 2014, which was 1.16% below its previous day's closing price. The stock vacillated between $33.11 and $33.50 during the day, and a total of 4.34 million shares were traded, which was slightly higher than its three months average volume of 4.10 million shares. Over the previous three trading sessions and from the beginning of 2014, the company's shares have dropped 1.02% and 1.66%, respectively; although, the shares have advanced 4.05% in the last one month. Shares in ConAgra Foods Inc. are trading above their 50-day and 200-day moving averages of $31.64 and $31.29, respectively. Furthermore, the stock traded at a PE ratio of 15.32 and has a Relative Strength Index (RSI) of 70.92. Visit Investor-Edge and access the latest research on CAG at:

www.Investor-Edge.com/CAGEarningsCoverage

Sneak Peek to Corporate Insider Trading  

In the last one month ConAgra Foods Inc. has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on CAG is available at:

www.Investor-Edge.com/CAGInsiderTrading

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