Conagra Brands Inc. Q1 Profit Decreases, But Beats Estimates

(RTTNews) - Conagra Brands Inc. (CAG) revealed a profit for first quarter that Decreased from last year but beat the Street estimates.

The company's bottom line totaled $164.5 million, or $0.34 per share. This compares with $466.8 million, or $0.97 per share, last year.

Excluding items, Conagra Brands Inc. reported adjusted earnings of $189.2 million or $0.39 per share for the period.

Analysts on average had expected the company to earn $0.33 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 5.8% to $2.632 billion from $2.794 billion last year.

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

-Earnings: $164.5 Mln. vs. $466.8 Mln. last year. -EPS: $0.34 vs. $0.97 last year. -Revenue: $2.632 Bln vs. $2.794 Bln last year.

-Guidance: Full year EPS guidance: $1.70 - $1.85