Conagra Brands Inc. Q1 Profit Increases, But Misses Estimates

ConAgra Foods

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Kaufen / Verkaufen

(RTTNews) - Conagra Brands Inc. (CAG) released a profit for its first quarter that increased from the same period last year but missed the Street estimates.

The company's bottom line totaled $466.8 million, or $0.97 per share. This compares with $319.7 million, or $0.67 per share, in last year's first quarter.

Excluding items, Conagra Brands Inc. reported adjusted earnings of $252.6 million or $0.53 per share for the period.

Analysts on average had expected the company to earn $0.59 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.8% to $2.794 billion from $2.904 billion last year.

Conagra Brands Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $466.8 Mln. vs. $319.7 Mln. last year. -EPS (Q1): $0.97 vs. $0.67 last year. -Revenue (Q1): $2.794 Bln vs. $2.904 Bln last year.

-Guidance: Full year EPS guidance: $2.60 - $2.65