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March 20, 2014
07:32 EDTCAGConAgra reports Q3 adjusted EPS 62c, consensus 60c
Reports Q3 revenue $4.39B, consensus $4.4B. The company says Consumer Foods sales declined in line with expectations, and comparable operating profit was flat. Challenges for a few key brands are weighing on overall segment sales results. Strong productivity, lower marketing expense, and other cost reductions benefited segment profits. Gary Rodkin, ConAgra Foods’ CEO, said, “We are on track with our EPS projections for the second half of this fiscal year. As we have previously discussed, there are operating challenges that have impacted segment performance and overall EPS growth, but we are encouraged by some pockets of strength. This quarter we posted good sales and market share performances for some of our consumer brands, good international growth for our potato operations, and continued improvement in the operations and organization for our private brands. The synergies expected from the former Ralcorp businesses are coming in slightly ahead of plans, and we continue to make good progress on SG&A efficiency initiatives. We reaffirm our full year fiscal 2014 EPS guidance, and remain confident in our long-term strategy and outlook.”
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July 30, 2015
08:15 EDTCAGConAgra says removes all BPA from cans across portfolio
ConAgra Foods announced that all of the company’s facilities in the U.S. and Canada have completed the transition to cans without Bisphenol A liners. While ConAgra Foods began canning some food in non-BPA lined cans in 2010, other foods required a different approach, due to their acidity or other characteristics. Extensive research and trials to find safe, long-lasting and economical packaging led the company to Ardagh Group, a global leader in glass and metal packaging solutions. Ardagh invested in capacity and capability to meet ConAgra Foods’ needs, and began providing the company non-BPA cans earlier this year. The cans are made in new, state-of-the-art production facilities using advanced technologies that allow for use of different coating systems using polyester or acrylic materials that do not contain BPA. As of July 30, all ConAgra Foods canned foods made in its U.S. and Canadian facilities will be packaged in cans with non-BPA liners. The company does import into the U.S. and Canada a small quantity of canned products with BPA liners and is working with the suppliers of these products to convert to non-BPA liners by early 2016.
July 29, 2015
06:35 EDTCAGTreeHouse, Post join bidding war for ConAgra's Ralcorp, Reuters reports
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