December 19, 2019 / 12:40 PM / 2 months ago

Conagra Brands beats quarterly sales estimates

Dec 19 (Reuters) - Conagra Brands Inc’s quarterly sales topped Wall Street estimates on Thursday, helped by strong demand for the packaged food maker’s snacks and frozen foods, sending its shares up about 7% in premarket trading.

Net income attributable to the company rose to $260.5 million, or 53 cents per share, in the second quarter ended Nov. 24, from $131.6 million, or 31 cents per share, a year earlier.

Net sales rose to $2.82 billion from $2.38 billion, largely due to Conagra’s acquisition of Pinnacle last year, beating the average analyst estimate of $2.80 billion, according to IBES data from Refinitiv. (Reporting by Praveen Paramasivam in Bengaluru; Editing by Vinay Dwivedi)

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