Northern,WI  9/20/2012 (BasicsMedia)  —  Earnings Movers Today: Conagra (CAG) + Jeffries (JEF).

Conagra (NYSE:CAG) +4% in pre-market trading and was s looking for +.36 EPS before markets open this morning.  You can listen to the call (Click Here) and the company reported the following numbers:

 

  • Diluted EPS from continuing operations of $0.61 as reported and         $0.44 adjusted for items impacting comparability, up 177% as reported and up 42% on a comparable basis.
  • Consumer Foods’ operating profit increased 20% as reported and 14% on a comparable basis, even with a strong increase in marketing         investment. Segment sales increased 8%, driven by acquisitions.
  • Commercial Foods’ operating profit grew 43% as reported and 37% on a comparable basis, as Lamb Weston potato operations delivered good         volume, favorable price/mix, and operational efficiencies. Segment         sales increased 5%.
  • The company has raised its EPS expectations for the fiscal year and         now expects fiscal 2013 EPS, adjusted for items impacting         comparability, to be in the range of $2.03 – $2.06, which includes a         strong year-over-year increase in marketing investment.
  • The company continues to expect operating cash flow in excess of         $1.2 billion for the fiscal year.
  • The board of directors raised the quarterly dividend by $0.01 to         $0.25 per share, starting with the dividend to be paid in December         2012. With this change, the annualized dividend becomes $1.00 per         share.

 

Jeffries (NYSE:JEF):   -3%  Net revenues of $739 million, versus $509 million

  •  Net earnings to common shareholders of $70 million, versus $68 million ($73 million on a non-GAAP basis after excluding certain items    versus $23 million on a non-GAAP basis after excluding certain items.
  • Net earnings per common share of $0.31, versus $0.30 ($0.32 on a         non-GAAP basis after excluding certain items [1] and versus $0.10 on a non-GAAP basis after excluding certain items [2])
  • Advisory net revenues of $133 million, up 24%, versus $107 million
  • Fixed Income net revenues increased 8-fold to $266 million, versus $33  million

Highlights for the nine months ended August 31, 2012, versus the nine       months ended August 31, 2011:

  • Net revenues of $2,230 million, up 12%, versus $1,995 million
  • Net earnings to common shareholders of $211 million versus $236         million ($221 million on a non-GAAP basis after excluding certain         items  versus $194 million on a non-GAAP basis after excluding       certain items.
  • Net earnings per common share of $0.91 versus $1.07 – $0.96 on a         non-GAAP basis after excluding certain items  versus $0.88 on a non-GAAP basis after excluding certain items
  • Advisory net revenues of $392 million, versus $378 million
  • Fixed Income net revenues of $897 million, versus $574 million

“On October 2, Jefferies will be 50 years old. Despite a turbulent and often treacherous environment, we have just finished the best nine-month period in our firm’s history. Our equity base of $3.7 billion has never been more robust, and our balance sheet and liquidity have never been stronger. The Jefferies brand and our competitive position versus our  competitors have also never been better,” commented Richard B. Handler,  Chairman and CEO of Jefferies. “We would like to thank our clients, employee-partners, shareholders, and bondholders for putting Jefferies  in our strongest position ever and allowing us collectively to continue  our mission to build Jefferies for the next 50 years.”

A conference call with management discussion of these financial results  will be held today, Thursday, September 20, 2012, at 9:00 AM Eastern  (date and time subject to change).

Investors and securities industry  professionals may access the management discussion by calling 877-710-9938 or 702-928-7183. A one-week replay of the call will also be available at 855-859-2056 or 404-537-3406 (conference ID # 25311406). A live audio webcast and delayed replay can also be accessed at  Jefferies.com.

 

Disclaimer: We have no position in either company

DISCLAIMER: This content is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.