UPDATE: ConAgra Posts Higher FQ2 Profit, Reaffirms Earnings Outlook
ConAgra Foods (NYSE: CAG) reported a gain in its fiscal second-quarter profit.
ConAgra's quarterly profit surged to $248.7 million, or $0.58 per share, from a year-ago profit of $211.6 million, or $0.51 per share. Excluding non-recurring items, it earned $0.62 per share.
Its net sales climbed 26.5% to $4.71 billion. However, analysts were projecting earnings of $0.56 per share on sales of $4.63 billion.
ConAgra reaffirmed its full-year earnings forecast of $2.34 to $2.38 per share.
ConAgra shares gained 4.59% to $33.25 in pre-market trading.
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