May 24, 2007

ConAgra raises FY07 earnings view on trading, merchandise operations

ConAgra Foods Inc raised its fiscal 2007 earnings forecast due to stronger-than-expected fourth-quarter results at the company's trading and merchandising unit.

The Omaha, Nebraska, packaged food company expects earnings to come in above the high end of its prior estimates of US$1.28 to US$1.33 a share for the quarter ending May 31.

Analysts, on average, expect the company to earn US$1.34 a share for the fiscal year, according to Thomson Financial.

Additionally, ConAgra named Ruth Ann Marshall and Andrew Schindler to the company's board, bringing the board's total size to 13 directors.