: Omaha-based ConAgra Foods is a food company, supplying frozen potato and sweet potato products, as well as other vegetable, spice and grain products, to a variety of restaurants, foodservice operators and commercial customers.
ConAgra said higher commodity costs led it to post a lower quarterly profit
, though results topped expectations.
The maker of processed foods under the Chef Boyardee, Healthy Choice, Hebrew National and Orville Redenbacher's brands, among others, ConAgra said accelerating input cost inflation led it to implement net pricing increases. High wheat input costs necessitated price increases for its flour-milling operations, the company said.
Its fiscal third-quarter results included an impact of 3 cents per share related to the mark-to-market impact of derivatives used to hedge input costs.
Cost of goods sold jumped 4.7% in the recent quarter, year-over-year, to $2.36 billion.