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Conagra Brands fiscal Q2 profit climbs 19.2% YOY

Conagra Brands Inc. said its normalized net income for the fiscal second quarter ended Nov. 29, 2015, amounted to 54 cents per share, compared with the S&P Capital IQ consensus estimate of 59 cents per share.

EPS increased 17.2% year over year from 46 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $234.3 million, a gain of 19.2% from $196.7 million in the prior-year period.

The normalized profit margin increased to 6.4% from 6.3% in the year-earlier period.

Total revenue declined on an annual basis to $3.09 billion from $3.14 billion, and total operating expenses fell from the prior-year period to $2.66 billion from $2.77 billion.

Reported net income decreased 23.1% from the prior-year period to $162.0 million, or 37 cents per share, from $210.7 million, or 49 cents per share.