ConAgra Foods has indicated that the explosion at its Slim Jim production facility in North Carolina is not expected to have a material adverse affect on the group’s profitability.
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In a regulatory filing, ConAgra said that it still expects to meet its previous long-term EPS growth forecast of 8-10%.
The company added that the explosion is unlikely to have a negative impact on its financial condition or liquidity in fiscal 2010, or on the longer-term profit growth opportunities for its consumer foods business.
Additionally, ConAgra said its insurance would cover the majority of costs associated with the accident and that it expects its business-interruption insurance to “substantially compensate” for any lost profits from the disruption.
Three workers died and more than 40 were injured in last week’s explosion, which was caused by an accidental natural gas release.
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