ConAgra Foods Beats Analyst Estimates on EPS
ConAgra Foods (NYS: CAG) reported earnings yesterday. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Feb. 26 (Q3), ConAgra Foods met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew, and GAAP earnings per share grew significantly.
Gross margins dropped, operating margins dropped, and net margins improved.
ConAgra Foods booked revenue of $3.37 billion. The 10 analysts polled by S&P Capital IQ expected to see a top line of $3.35 billion on the same basis. GAAP reported sales were 6.9% higher than the prior-year quarter's $3.15 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $0.51. The 13 earnings estimates compiled by S&P Capital IQ averaged $0.49 per share on the same basis. GAAP EPS of $0.65 for Q3 were 30% higher than the prior-year quarter's $0.50 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 23.4%, 210 basis points worse than the prior-year quarter. Operating margin was 12.3%, 120 basis points worse than the prior-year quarter. Net margin was 8.1%, 130 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $3.40 billion. On the bottom line, the average EPS estimate is $0.50.
Next year's average estimate for revenue is $13.15 billion. The average EPS estimate is $1.79.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 610 members rating the stock outperform and 68 members rating it underperform. Among 180 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 167 give ConAgra Foods a green thumbs-up, and 13 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on ConAgra Foods is hold, with an average price target of $27.00.
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At the time this article was published 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. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.
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