Tags: ConAgra | Foods | Profit | Earnings

ConAgra Foods Profit Rises on Increase in Commercial Sales

Thursday, 18 September 2014 08:11 AM

ConAgra's first-quarter earnings nearly tripled as the food producer cut costs and volumes increased.

The Omaha, Nebraska company posted net income of $482.3 million, or $1.12. Earnings, adjusted for one-time gains and costs, came to 39 cents per share, or 4 cents better than Wall Street had expected, according to a poll of analysts by Zacks Investment Research.

The maker of Chef Boyardee, Hebrew National hot dogs and other packaged foods posted revenue of $3.7 billion, just edging out expectations.

The company expects full-year earnings to grow in the mid-single digits from its 2014 earnings of $2.17 per share.

Shares of ConAgra Foods Inc. have decreased 5 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed slightly more than 8 percent.

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ConAgra Foods Inc., the maker of Hunt's Ketchup and Chef's Boyardee pastas, on Thursday reported higher quarterly net income as sales in its commercial foods business increased.Net income rose to $484.5 million, or $1.12 per share, from $147.2 million, or 34 cents per...
ConAgra, Foods, Profit, Earnings
Thursday, 18 September 2014 08:11 AM
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