- ConAgra reported earnings of 55 cents a share for the most-recent quarter, well below the 60 cents a share the company had forecasted.
- The Omaha-based maker of brands such as Chef Boyardee, Slim Jim, and Healthy Choice said sales in its consumer foods unit fell 7% in the quarter.
- ConAgra put most of the blame on the continuing struggle to integrate Ralcorp Holdings, the maker of private-label foods that ConAgra purchased last year.
ConAgra reported disappointing earnings, lowered its forecast for the following quarter, and blamed the Ralcorp deal.
Which is exactly what happened last quarter.
The investing community is growing weary of that story, and understandably so. Shares fell as much as 7.4% yesterday on the earnings news.