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BULLETIN: Drop In ConAgra Foods Inc.'s Fourth Quarter Earnings Does Not Affect Ratings Jun 05
Standard & Poors, June 2005
Abstract
NEW YORK (Standard & Poor's) June 7, 2005--Standard & Poor's Ratings Services said today that its ratings and outlook on ConAgra Foods Inc. (BBB+/Stable/A-2) are not affected by the company's announcement that its fiscal 2005 fourth quarter earnings will be lower than expected. Earnings will be lower than expected primarily due to continued weak profitability in the company's packaged meat operations. While the company did not provide specific overall fourth quarter performance figures, as they were not yet final, the company suggests that overall earnings estimates be lowered by an amount similar to the shortfall in the packaged meat operations, approximately 10 cents per share. Despite the revised earnings guidance, Standard & Poor's believes there is still sufficient room in...
Companies mentioned in this report are: ConAgra Foods Inc.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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