This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

ConAgra Beats, Hit by Commodity Costs

OMAHA ( TheStreet) -- ConAgra Foods (CAG - Get Report) said higher commodity costs led it to post a lower quarterly profit, though results topped expectations.

ConAgra, the maker of processed foods under the Chef Boyardee, Healthy Choice, Hebrew National and Orville Redenbacher's brands, among others, booked a fiscal third-quarter profit of $214.8 million, or 50 cents per share, down 6.4% from $229.6 million, or 51 cents per share, earned in the year-earlier period.

ConAgra shares were 0.1% higher ahead of the opening bell Thursday after closing 0.3% lower to $22.93 on Wednesday.

ConAgra said rising commodity costs pressured its bottom line.

Revenue rose 4.1% to $3.15 billion. The top-line figure also came in better than analysts' call which had been for revenue of $3.12 billion.

ConAgra said its Banquet and Peter Pan brands were among the strongest performers in the recent quarter.

The Omaha company also reaffirmed its full-year guidance for earnings per share to grow at a low single-digit percentage rate over fiscal 2010's $1.67 per share.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
CAG $36.76 0.00%
CPB $45.89 0.00%
GIS $54.99 0.00%
K $63.84 0.00%
PG $82.31 0.00%

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs