1.   She said she expects earnings improvement to begin in the first quarter.

2.   Analysts said the medical-loss ratio will be key to any earnings improvement.

3.   As evidence, Raabe points out that the company recently posted four consecutive quarters of earnings improvement, and record fourth-quarter growth.

4.   Higher banana prices outside the European Union, earnings improvements in other food products and reduced interest expense contributed to the improvement.

5.   Illinois Central is a good bet for earnings improvement because it signed labor agreements that kept operating costs down.

6.   Much of the earnings improvement came through deep cost cuts.

7.   Part of the earnings improvement will be achieved by reducing jobs to make food production activities more efficient.

8.   So analysts still expect the main push for earnings improvements to come from its radical restructuring efforts, aided by improved marketing conditions for its plastics and chemical products.

9.   Still, analysts see some earnings improvement as prices remain above the break even level.