reported third-quarter earnings that met Wall Street's slightly lowered expectations, but the bottom line dropped from the year-ago figures, in part because of the economic conditions in agriculture, increased marketing investments and higher energy costs.
For the third quarter ended Feb. 25, ConAgra earned $98.5 million, or 19 cents a share, down from $143.4 million, or 30 cents a share, in the same quarter one year ago.
Thirteen analysts surveyed by
First Call/Thomson Financial
expected the company, which is based in Omaha, Neb., to earn 19 cents a share.
ConAgra, a food supplier whose brands include Hunt's tomato products, Healthy Choice and Chef Boyardee, posted third-quarter revenue of $6.4 billion, up 9% from $5.9 billion in the year-ago period.