ConAgra Foods meets 4Q net income expectations, misses revenue forecasts

IndustriesAssociated Press

ConAgra Foods Inc. (CAG) on Tuesday reported fiscal fourth-quarter net income of $209.2 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Omaha, Nebraska-based company said it had profit of 48 cents. Earnings, adjusted for one-time gains and costs, came to 59 cents per share.

Continue Reading Below

The results met Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was also for earnings of 59 cents per share.

The maker of Chef Boyardee, Hebrew National hot dogs and other packaged foods posted revenue of $4.1 billion in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $4.14 billion.

ConAgra shares have increased 20 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has increased 43 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAG at http://www.zacks.com/ap/CAG

_____

Keywords: ConAgra Foods, Earnings Report