US food company ConAgra Foods has reported a drop in quarterly profit due to a charge related to the chicken business it is currently selling.
Go deeper with GlobalData
ConAgra posted fiscal fourth-quarter earnings of US$150.4m, or 28 cents a share, compared with $192.2m, or 36 cents a share, a year earlier.
Excluding the charge to write down assets of the chicken business and other losses from discontinues operations, profit was 42 cents a share. Analysts had on average forecast 41 cents a share, with estimates ranging from 40 to 42 cents, reported Reuters.
ConAgra reported sales of $3.91bn, down 33.5% due to recent divestitures.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
