US food company ConAgra Foods has said that it expects its fiscal 2003 profit to meet or be slightly below its earlier forecast and may not meet Wall Street analysts’ average estimate.
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The Omaha-based company said it expects a profit of US$1.57 to $1.60 per share for the year to 25 May, compared with a previous forecast of $1.60 per share. The forecast includes 3 cents per share of expenses related to the divestiture of its beef and pork business.
Analysts’ average estimate is $1.63 per share excluding those expenses, reported Reuters.
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