Omaha-ConAgra Foods Inc.’s net income was up 44 percent, to $219.6 million ($.43 per share) for the second quarter ending Nov. 26, 2006, compared to the year-ago $152.5 million ($.29 per share). Sales were up slightly, to $3.08 billion from $3.00 billion. ConAgra said it had declines in operating profit in its agricultural commodities and wholesale fertilizer operations, though the Trading and Merchandising (T&M) segment did see a 3 percent increase in sales, to $297.3 million from the year-ago $288.6 million, due to strong results from energy trading. T&M operating profits were up 19 percent, to $38.9 million from the year-ago $32.7 million. T&M operating profits for the first half are off 36.8 percent, to $54.5 million on sales of $502.7 million, versus the year-ago $86.2 million and $548.6 million, respectively. ConAgra-wide, first-half net income is off 22.7 percent, to $386.3 million ($.76 per share) on sales of $5.8 billion, versus the year-ago $499.8 million ($.96 per share) and $5.7 billion, respectively.
Transparency Across the Fertilizer Value-Chain