US food giant ConAgra Foods has cut its fiscal first-quarter forecast as a result of lower-than-planned profits from its consumer foods business.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more


The company said earnings are expected to be slightly below the previously-announced estimate of US$0.26-$0.28 per diluted share.


ConAgra said operating profit from its consumer foods segment will be below prior-year first-quarter amounts. Key areas of underperformance were cooking oils, tablespreads, banquet frozen foods and popcorn.


However, the company said that its supply chain and SG&A savings initiatives are on track against full-year targets. Sales and profits for the commercial foods segment (formerly the Food & Ingredients segment) were in line with company expectations.


Shares yesterday were up $0.19 to $21.46.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

A full fiscal 2009 update is expected when ConAgra issues its first-quarter results on 18 September.

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now