March 22, 2018 / 11:39 AM / 6 months ago

Conagra profit more than doubles on gain from tax reform

March 22 (Reuters) - Conagra Brands Inc’s quarterly profit more than doubled as the maker of Reddi-Wip whipped cream and Chef Boyardee pasta benefited from a one-time gain related to recent U.S. tax reform.

Net income attributable to Conagra rose to $362.8 million, or 90 cents per share, in the third quarter ended Feb. 25, from $179.7 million, or 41 cents per share, a year earlier.

The latest quarter included a tax benefit of $236.7 million, the company said.

Conagra’s net sales inched up to $1.99 billion from $1.98 billion. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Savio D’Souza)

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