ConAgra Foods reaffirms fiscal 2009 guidance

by Jeff Gelski
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OMAHA — ConAgra Foods Inc. on Feb. 17 reaffirmed its expectations of fiscal 2009 earnings at above $1.50 per share. The Omaha-based company expects to generate more earnings in the fourth quarter (March through May) than in the current third quarter. Long term, ConAgra said it expects annual e.p.s. growth of 8% to 10% and return on invested capital to range from 12% to 13%.

"While economic conditions are difficult right now, we are confident that our refined strategic focus, the new items we are bringing to market, the value orientation of our portfolio, and our cost-saving programs will allow us to generate strong profitability," said Gary Rodkin, chief executive officer of ConAgra.

Mr. Rodkin was to take part Feb. 17 in ConAgra’s presentation at the Consumer Analyst Group of New York’s annual conference in Boca Raton, Fla.

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