ConAgra Foods, Inc. (CAG – Analyst Report) has carved a name for itself in the processed & packaging food industry with superior processed food items for household and commercial clients. The product portfolio of this Omaha, NE-headquartered firm includes leading consumer brands that are found in 99% of America’s households.  

However, this largest packaged food business of North America faces price volatility for raw materials much like its industry peers. As the extent of industry competition is increasing over time, investors have been eagerly awaiting for the company’s latest earnings report. In the last four trailing quarters, CAG has reported a positive average earnings surprise of 6.7%.
 
Currently, CAG has a Zacks Rank #2 (Buy), but that could definitely change after the release of its upcoming earnings report. We have highlighted some of the key stats from this just-revealed announcement below:
 
Earnings: ConAgra’s earnings from continuing operations, adjusted for items impacting comparability, in the first-quarter of fiscal 2016, came in at 45 cents, above the Zacks Consensus Estimate of 39 cents.
 
Revenue: ConAgra posted revenues of $2,793.8 million, below the Zacks Consensus Estimate of $3,692 million.
 
Key Stats to Note: ConAgra aims to widen its margin on the back of product portfolio reinforcement and cost reduction initiatives. In first-quarter fiscal 2016, the company’s total operating profit stood at $380.3 million, up 21.9% year over year. ConAgra perceives that its quarterly earnings in second-quarter fiscal 2016 would be in-line with its respective year ago tally. However, the company intends to improve its financial fundamentals on the back of balanced capital accumulation, higher sales and tactical cost reduction initiatives.  
 
Stock Price:  Shares prices of CAG did not change on a pre-market trading basis.