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Thursday, Jun 27
Heard during ConAgra Food's (CAG +6.1%) earnings call: 1) There's no doubt the purchase of...
Heard during ConAgra Food's (CAG +6.1%) earnings call: 1) There's no doubt the purchase of Ralcorp was a game-changer as the company's volumes held up even with prices higher. 2) One unidentified major foodservice customer didn't renew a large potato order which impacted EPS by $0.06-$0.07. 3) Milling operations will be rolled into a joint venture with Cargill which well help reduce costs and will be accretive to earnings within a couple of years. 4) The long-term outlook for earnings growth is taken to 7%-9% from prior guidance of 6%-8%. (webcast)