ConAgra 2nd quarter net income beats expectations
OMAHA, Neb. (AP) — Food maker ConAgra Foods says its net income fell nearly 15 percent as high food costs continue to pressure results.
ConAgra Foods Inc., like many food companies, is dealing with higher costs for ingredients, packaging and fuel and has raised its prices to offset those increases
Results for the Omaha, Neb.-based company were better than expected and ConAgra reaffirmed fiscal 2012 guidance.
The maker of Slim Jim, Chef Boyardee and other packaged foods says net income fell to $171.8 million, or 41 cents per share. That compares with $200.9 million, or 46 cents per share a year ago. Excluding one-time items net income was 47 cents per share. That's ahead of the 43 cents per share analysts expected.
Revenue rose 8 percent to $3.4 billion. Analysts expected $3.34 billion.