Tags: ConAgra Slashes 2011 Outlook on Weak Second Quarter

ConAgra Slashes 2011 Outlook on Weak Second Quarter

Thursday, 09 Dec 2010 09:20 AM

ConAgra Foods Inc. cut its outlook for 2011 earnings growth after second-quarter results were weaker than expected, sending its shares down 3 percent in premarket trade.

The maker of Chef Boy-Ar-Dee pastas and Healthy Choice meals said it expects to report earnings for its just-ended second quarter of about 45 cents per share, or lower than planned. It blamed higher-than-expected commodity inflation, and a weaker-than-expected response to promotions.

The company said it now expects a low-single-digit rise in earnings per share for fiscal 2011, down from its prior forecast for a 5 to 7 percent rise.

The company plans to report earnings on Dec. 21.

ConAgra shares fell 3 percent to $21.59 in premarket trading, from Wednesday's close of $22.25 on the New York Stock Exchange.

© 2017 Thomson/Reuters. All rights reserved.

1Like our page
2Share
Companies
ConAgra Foods Inc. cut its outlook for 2011 earnings growth after second-quarter results were weaker than expected, sending its shares down 3 percent in premarket trade. The maker of Chef Boy-Ar-Dee pastas and Healthy Choice meals said it expects to report earnings for its...
ConAgra Slashes 2011 Outlook on Weak Second Quarter
126
2010-20-09
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved