ConAgra Says Packaged Foods a Hard Sell As Quarterly Profits Slip

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ConAgra Says Packaged Foods a Hard Sell As Quarterly Profits Slip

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ConAgra Says Packaged Foods a Hard Sell As Quarterly Profits Slip

by TheStreet 1:13 mins

ConAgra Says Packaged Foods a Hard Sell As Quarterly Profits Slip

by TheStreet 1:13 mins

ConAgra Foods' fiscal¿¿ fourth-quarter results were in line with analysts'¿¿ forecasts, but given the company recently lowered guidance, that wasn'¿¿t a difficult hurdle to clear. The food processor earned $0.55 cents a share in the second quarter, just as analysts expected, but a nickel below what it earned in the same period a year earlier. Before warning of lower profits, analysts had expected earnings of $0.62 cents a share. Revenue slipped nearly 3% to $4.43 billion. Weakness was generally seen in consumer foods sales, a segment which includes brands such as Slim Jims, Swiss Miss and Healthy Choice. Revenue in the division tumbled 7.4% because of weak volumes.TheStreet's Keris Lahiff reports from Wall Street.

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