ConAgra Foods Goes Negative
ConAgra Foods (NYS: CAG) reported earnings on June 21. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended May 27 (Q4), ConAgra Foods met expectations on revenues and beat slightly on earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share dropped to a loss.
Margins contracted across the board.
ConAgra Foods reported revenue of $3.41 billion. The 11 analysts polled by S&P Capital IQ predicted revenue of $3.40 billion on the same basis. GAAP reported sales were 7.7% higher than the prior-year quarter's $3.17 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.51. The 14 earnings estimates compiled by S&P Capital IQ predicted $0.50 per share. GAAP EPS were -$0.21 for Q4 against $0.60 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 20.2%, 230 basis points worse than the prior-year quarter. Operating margin was -2.6%, 1,340 basis points worse than the prior-year quarter. Net margin was -2.5%, 1,050 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $3.25 billion. On the bottom line, the average EPS estimate is $0.35.
Next year's average estimate for revenue is $13.82 billion. The average EPS estimate is $1.98.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 613 members out of 682 rating the stock outperform, and 69 members rating it underperform. Among 194 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 179 give ConAgra Foods a green thumbs-up, and 15 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on ConAgra Foods is outperform, with an average price target of $27.25.
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The article ConAgra Foods Goes Negative originally appeared on Fool.com.Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.