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Conagra, like its peers Campbell Soup (NYSE:CPB) Co, Kraft Heinz (NASDAQ:KHC) Co and Unilever (NYSE:UL) PLC, has been bumping up product prices in recent months to offset inflationary pressures, aiding the sales momentum over the past year.
It reported net sales of $2.65 billion in the first quarter, compared with $2.68 billion a year earlier, beating analysts’ average estimate of $2.54 billion, according to Refinitiv IBES.
Net income attributable to Conagra fell to $235.4 million, or 49 cents per share, in the quarter ended. Aug 29, from $329 million, or 67 cents per share, a year earlier.
