Investopedia: Ralcorp Needs To Offer More

If this fiscal fourth quarter is a sign of what Ralcorp Holdings (NYSE:RAH) has to offer investors, then many of them are right to wonder why management did not accept ConAgra's (NYSE:CAG) overtures to buy the company. The company is certainly trying to change things up, including spinning off its branded cereal business, but this is supposed to be a good time for the makers of private label food and Ralcorp is looking decidedly beige.

An Iffy End to the Fiscal Year  
Ralcorp closed out the fiscal year with reported revenue growth of 8%, half of that coming from the acquisition of American Italian Pasta Company. Core revenue missed estimates slightly, with reported volume growth of 3% and an internal volume contraction of 4%. Volume erosion was consistent across product lines, while the snack/sauce/spread, bakery and private label cereal businesses did scratch out some overall net growth. (To know more about acquisition, read Analyzing An Acquisition Announcement.)

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