Conagra Brands Inc. (CAG) announced a profit for second quarter that decreased from the same period last year and missed the Street estimates.
The company's bottom line came in at $275.5 million, or $0.57 per share. This compares with $378.9 million, or $0.77 per share, in last year's second quarter.
Excluding items, Conagra Brands Inc. reported adjusted earnings of $306.3 million or $0.64 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 rose 2.0% to $3.06 billion from $3.00 billion last year.
Conagra Brands Inc. earnings at a glance:
-Earnings (Q2): $275.5 Mln. vs. $378.9 Mln. last year.-EPS (Q2): $0.57 vs. $0.77 last year.-Analyst Estimates: $0.68-Revenue (Q2): $3.06 Bln vs. $3.00 Bln last year.
-Guidance:Full year EPS guidance: $2.50
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