Monday, May 24, 2010

ConAgra Foods (NYSE:CAG) Maintains Earnings Estimate

ConAgra Foods (NYSE:CAG) reiterated its earnings projection of about $1.73 a share for 2010, still up from 2009's performance, but down from analysts' expectations.

Annual revenue growth guidance stands at from between 3 percent to 4 percent, with an eight to ten percent growth rate a share for its net income for the long term.

Analysts are looking for net income to reach $1.75 a share on revenue of $12.4 billion for 2010.

Original estimates for the year were for $1.70 a share for earnings, which was revised in December to $1.73, and reaffirmed today.

Annual earnings in 2009 was $1.52 a share on $12.7 billion in revenue.

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