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Conagra (CAG) Q3 Earnings Beat, Revenues Miss Estimates
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Conagra Brands, Inc. (CAG - Free Report) has carved a name for itself in the processed & packaging food industry with superior processed food items for household and commercial clients.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: CAG’s adjusted earnings from continuing operations in third-quarter fiscal 2018, came in at 61 cents, above with the Zacks Consensus Estimate of 55 cents.
Revenue: CAG posted revenues of $1,994.5 million, below the Zacks Consensus Estimate of $2,010 million.
Key Stats: CAG intends boost its near-term profitability on the back of stronger top-line performance. The company perceives that new merchandizing, distribution and consumer trail-related investments will continue to boost sales of its major brands going forward. However, input cost inflation and rising transportation expenses are expected to weigh over margins in the upcoming quarters.
The company currently anticipates to report adjusted earnings within $2.03-$2.05 per share range for fiscal 2018, higher than the previously stated range of $1.84-$1.89 per share. Moreover, CAG anticipates to buyback common stock worth $1.1 billion in fiscal 2018.
Stock Price: Shares prices of CAG did not change on a pre-market trading basis.
As of Mar 21, 2018, CAG’s closed the trading session at $35.34 per share.
Check back our full write up on this CAG earnings report later!
Zacks Editor-in-Chief Goes ""All In"" on This Stock
Full disclosure, Kevin Matras now has more of his own money in one particular stock than in any other. He believes in its short-term profit potential and also in its prospects to more than double by 2019. Today he reveals and explains his surprising move in a new Special Report.
Image: Bigstock
Conagra (CAG) Q3 Earnings Beat, Revenues Miss Estimates
Conagra Brands, Inc. (CAG - Free Report) has carved a name for itself in the processed & packaging food industry with superior processed food items for household and commercial clients.
Currently, CAG has a Zacks Rank #2 (Buy), but that could definitely change after the release of its third-quarter fiscal 2018 (ended February 2018) results. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: CAG’s adjusted earnings from continuing operations in third-quarter fiscal 2018, came in at 61 cents, above with the Zacks Consensus Estimate of 55 cents.
Revenue: CAG posted revenues of $1,994.5 million, below the Zacks Consensus Estimate of $2,010 million.
Key Stats: CAG intends boost its near-term profitability on the back of stronger top-line performance. The company perceives that new merchandizing, distribution and consumer trail-related investments will continue to boost sales of its major brands going forward. However, input cost inflation and rising transportation expenses are expected to weigh over margins in the upcoming quarters.
The company currently anticipates to report adjusted earnings within $2.03-$2.05 per share range for fiscal 2018, higher than the previously stated range of $1.84-$1.89 per share. Moreover, CAG anticipates to buyback common stock worth $1.1 billion in fiscal 2018.
Stock Price: Shares prices of CAG did not change on a pre-market trading basis.
Conagra Brands Inc. Price
Conagra Brands Inc. Price | Conagra Brands Inc. Quote
As of Mar 21, 2018, CAG’s closed the trading session at $35.34 per share.
Check back our full write up on this CAG earnings report later!
Zacks Editor-in-Chief Goes ""All In"" on This Stock
Full disclosure, Kevin Matras now has more of his own money in one particular stock than in any other. He believes in its short-term profit potential and also in its prospects to more than double by 2019. Today he reveals and explains his surprising move in a new Special Report.
Download it free >>