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Stock Market & Financial Investment News

News Breaks
March 5, 2013
09:16 EDTCAG, CHSCPConAgra says expects JV transaction to become accretive to EPS over time
ConAgra says in an 8K filing that securing third-party financing in an aggregate amount of no less than $600M on terms that are commercially reasonable and that do not, among other things, require credit support to be provided by any Owner, is a condition to close. Immediately upon completion of the Financing, all of the net proceeds thereof will be distributed to the Owners. The distribution will be approximately proportional to the Owners’ ownership interests in Ardent Mills, except that each Owner’s distribution will be adjusted to reflect any deviations in the working capital contributions of such Owner from specified target amounts and ConAgra Foods will receive a distribution that is slightly higher proportionally than its percentage ownership. ConAgra Foods currently plans to allocate its initial cash distribution from the Joint Venture to pay down debt. It is anticipated that the transaction will close late in calendar year 2013. ConAgra Foods plans to finalize the expected financial impacts of the transaction between now and the closing. Due to both the anticipated timing of the closing and expected allocation of proceeds toward debt reduction, the transaction is expected to be modestly dilutive, less than 5c, to fiscal 2014 diluted EPS, excluding items impacting comparability. Even with this impact, ConAgra Foods expects to post a strong growth rate of diluted EPS, excluding items impacting comparability, in bothhalves of fiscal 2014, primarily reflecting the contribution of diluted EPS, excluding items impacting comparability, from the recent Ralcorp Holdings, Inc. acquisition; this transaction does not alter the company’s expectations for previously announced cost synergies related to the Ralcorp acquisition. ConAgra Foods also expects the Joint Venture transaction to become accretive to its diluted EPS over time, as expected cost synergies from the transaction are realized.
News For CAG;CHSCP From The Last 14 Days
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October 14, 2014
13:46 EDTCAGConAgra reaffirms guidance, sees Q2 EPS in-line with year ago
ConAgra Foods said it expects to affirm its previously announced FY15 guidance of diluted earnings per share to show a mid-single digit rate of growth over comparable FY14 when meeting with investors today. It adds the remaining EPS growth in FY15 is expected to occur in the second half of the fiscal year. Comparable EPS for Q2 is expected to be in line with year-ago amounts given the "strong comparable EPS performance" in the second quarter of last year. The company reaffirms its operating cash flow, debt reduction, and dividend guidance.
11:25 EDTCAGCargill to distribute certain ConAgra foods in Brazil
Cargill and ConAgra Foods are pleased to announce a partnership to bring the Hunt’s line of condiments and ACT II microwave popcorn to Brazil. In the past three years the condiments market has grown 4.5% a year; the main product in this category is tomato ketchup, which accounts for about 93% of this market. In Brazil, the microwave popcorn market has considerable growth potential as a result of strong sales of microwave ovens to the country’s new middle class in recent decades.

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