Conagra Brands Inc. Q2 Profit Decreases, but beats estimates

(RTTNews) - Conagra Brands Inc. (CAG) announced a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $286.2 million, or $0.60 per share. This compares with $381.9 million, or $0.79 per share, in last year's second quarter.

Excluding items, Conagra Brands Inc. reported adjusted earnings of $341.4 million or $0.71 per share for the period.

Analysts on average had expected the company to earn $0.68 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.0% to $3.21 billion from $3.31 billion last year.

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

-Earnings (Q2): $286.2 Mln. vs. $381.9 Mln. last year. -EPS (Q2): $0.60 vs. $0.79 last year. -Analyst Estimates: $0.68 -Revenue (Q2): $3.21 Bln vs. $3.31 Bln last year.

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