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 11.8%.

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 second-quarter of fiscal 2016, came in at 71 cents, above the Zacks Consensus Estimate of 59 cents.

Revenue: ConAgra posted revenues of $3,092.7 million, below $3,136.4 recorded in the year ago comparable period.     

Key Stats to Note: ConAgra is strategically expanding its margin on the back of increased productivity, portfolio segmentation and price/mix focus. The company perceives that its earnings in third-quarter fiscal 2016 would exceed the value reported in the year ago comparable period. In second-quarter fiscal 2016, the company’s total operating profit stood at $493.1 million, up 10.1% year over year. The company intends to further improve its financial fundamentals with the help 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.