Conagra Brands Inc. Q1 adjusted earnings Beat Estimates

Conagra Brands Inc. (CAG) announced a profit for first quarter that decreased from the same period last year.

The company's bottom line came in at $235.4 million, or $0.49 per share. This compares with $329.0 million, or $0.67 per share, in last year's first quarter.

Excluding items, Conagra Brands Inc. reported adjusted earnings of $240.5 million or $0.50 per share for the period.

Analysts had expected the company to earn $0.49 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.1% to $2.65 billion from $2.68 billion last year.

Conagra Brands Inc. earnings at a glance:

-Earnings (Q1): $240.5 Mln. vs. $344.4 Mln. last year.
-EPS (Q1): $0.50 vs. $0.70 last year.
-Analysts Estimate: $0.49
-Revenue (Q1): $2.65 Bln vs. $2.68 Bln last year.

Full year EPS guidance: $2.50

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