ConAgra Foods: Good sales and market share performance in 3Q 2013

ConAgra Foods,has reported its results for the fiscal 2014 third quarter ended Feb. 23, 2014. Diluted EPS from continuing operations was $0.58 as reported for the fiscal third quarter vs. $0.28 in the year-ago period. After adjusting for items impacting comparability, current-quarter diluted EPS of $0.62 was 13% above the comparable $0.55 earned in the year-ago period.

Gary Rodkin, ConAgra Foods’ chief executive officer, 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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