Conagra Brands Inc. Q3 Profit Decreases, but beats estimates

(RTTNews) - Conagra Brands Inc. (CAG) announced a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $308.6 million, or $0.64 per share. This compares with $341.7 million, or $0.71 per share, in last year's third quarter.

Excluding items, Conagra Brands Inc. reported adjusted earnings of $328.9 million or $0.69 per share for the period.

Analysts on average had expected the company to earn $0.65 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.9% to $3.03 billion from $3.09 billion last year.

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

-Earnings (Q3): $308.6 Mln. vs. $341.7 Mln. last year. -EPS (Q3): $0.64 vs. $0.71 last year. -Revenue (Q3): $3.03 Bln vs. $3.09 Bln last year.

-Guidance: Full year EPS guidance: $2.60 and $2.65