Conagra Brands Inc. Q2 Profit Increases, beats estimates

Conagra Brands Inc. (CAG) announced earnings for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $381.9 million, or $0.79 per share. This compares with $275.5 million, or $0.57 per share, in last year's second quarter.

Excluding items, Conagra Brands Inc. reported adjusted earnings of $391.8 million or $0.81 per share for the period.

Analysts on average had expected the company to earn $0.66 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.2% to $3.31 billion from $3.06 billion last year.

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

-Earnings (Q2): $381.9 Mln. vs. $275.5 Mln. last year.
-EPS (Q2): $0.79 vs. $0.57 last year.
-Analyst Estimate: $0.66
-Revenue (Q2): $3.31 Bln vs. $3.06 Bln last year.

Full year EPS guidance: $2.60 - $2.70

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