ConAgra Reports 3Q Net Income of $271.6 Million, Up From $214.8 Million in 3Q 2011
Date Posted: March 23, 2012
Omaha, NE—ConAgra Foods, Inc., (NYSE: CAG) one of North America's leading packaged food companies, reported March 22 results for the fiscal 2012 third quarter ended Feb. 26, 2012.
Diluted EPS from continuing operations was $0.65 as reported, up 25% over $0.52 a year ago.
After adjusting for $0.14 of net EPS benefit in the current quarter, and $0.02 of net EPS benefit in the year-ago period, from items impacting comparability, diluted EPS of $0.51 from continuing operations in the fiscal third quarter increased 2% over the comparable $0.50 in the year-ago period.
Items impacting comparability in the third quarter of the current fiscal year and prior fiscal year are summarized toward the end of this release and reconciled for Regulation G purposes starting on page 9.
Gary Rodkin, ConAgra Foods' chief executive officer, commented, "Conditions have been difficult across the industry due to high inflation and soft volumes for retail consumer food brands.
"Our Lamb Weston potato business performed well, and we benefited from total margin management efforts that include price increases in both operating segments and good overall cost savings.
"We remain committed to our EPS goals for fiscal 2012, and we will continue our focus on deploying cash in ways that create long-term value."
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