- Diluted EPS from continuing operations of $0.51 as reported and $0.57 adjusted for items impacting comparability, up 19% as reported and up 16% on a comparable basis.
- Consumer Foods’ operating profit increased 12% as reported and 8% on a comparable basis, including a double-digit increase in base business marketing investment. Segment sales increased 11%, driven by acquisitions.
- Commercial Foods’ operating profit grew 5% as reported and segment sales increased 5%.
- The company now expects EPS expectations for the full fiscal year, adjusted for items impacting comparability, to be at least $2.06, an increase from the previous guidance of $2.03 - $2.06 on that same basis. This upwardly revised outlook includes a strong year-over-year increase in marketing investment, and does not include any fiscal 2013 EPS benefit from acquiring Ralcorp, which will be determined in due course after the transaction closes.
- The company continues to expect operating cash flow in excess of $1.2 billion for the fiscal year, excluding any fiscal 2013 cash flow from acquiring Ralcorp.
- The company’s planned acquisition of Ralcorp for $90 per share in cash is on track to close in the first quarter of calendar 2013. Please refer to the company’s press release dated Nov. 27, 2012, for details on the transaction.
ConAgra Foods Reports Strong Second-Quarter EPS Growth; Raises Fiscal 2013 Expectations; Acquisition Of Ralcorp Holdings, Inc. On Track For Closing In The First Quarter Of Calendar 2013
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.