ConAgra Reiterates Expected Growth, Reaffirms Fiscal 2008 and 2009 Guidance

NEW YORK (AP) -- Packaged foods maker ConAgra Foods Inc. said Friday it still expects earnings to grow 8 percent to 10 percent in the near term, and reaffirmed its guidance for fiscal 2008.

The owner of brands including Healthy Choice, Chef Boyardee and Peter Pan expects 2008 adjusted earnings between $1.80 and $1.85 per share, compared with the $1.80 per share average estimate of analysts polled by Thomson Financial.

The company forecast fiscal fourth-quarter earnings between 30 cents and 35 cents per share, compared with analysts' projections for profit of 35 cents per share.

ConAgra predicts it will report 2009 adjusted earnings of at least $1.55 per share, while analysts expect profit of $1.53 per share. The company reiterated the guidance ahead of a presentation to investors at a luncheon hosted by Shields & Co. Friday.