WASHINGTON (dpa-AFX) - While reporting its financial results for the first quarter on Thursday, Conagra Brands, Inc. (CAG) reiterated its financial outlook for the full-year 2020.
The outlook includes expected full-year results from the Direct Store Delivery or DSD snacks business, the pending sale of which was announced after quarter end. The company expects the DSD snacks business divestiture transaction to be completed before the end of the calendar year.
For fiscal 2020, Con Agra reaffirmed its outlook for adjusted earnings in a range of $2.08 to $2.18 per share and net sales growth of 13.5 percent to 14.0 percent. The company also reiterated its outlook for organic net sales growth in a range of 1.0 percent to 1.5 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.09 per share for the year on revenue growth of 13.4 percent to $10.81 billion for the year. Analysts' estimates typically exclude special items.
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