Conagra Brands Inc. said its normalized net income for the fiscal third quarter ended Feb. 26 came to 37 cents per share, compared with the S&P Capital IQ consensus estimate of 44 cents per share.
EPS increased 49.4% year over year from 25 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $162.7 million, an increase of 48.3% from $109.7 million in the prior-year period.
The normalized profit margin climbed to 8.2% from 5.0% in the year-earlier period.
Total revenue fell 9.9% year over year to $1.98 billion from $2.20 billion, and total operating expenses fell 13.2% year over year to $1.70 billion from $1.95 billion.
Reported net income increased 165.8% from the prior-year period to $178.9 million, or 41 cents per share, from $67.3 million, or 15 cents per share.