(Reuters) -Conagra Brands Inc beat quarterly revenue expectations on Thursday, as the Slim Jim beef jerky maker raised prices for its frozen meals and snacks.
Conagra, like its peers Campbell Soup Co, Kraft Heinz Co and Unilever PLC, has been bumping up product prices in recent months to offset inflationary pressures, aiding the sales momentum over the past year.
It reported net sales of $2.65 billion in the first quarter, compared with $2.68 billion a year earlier, beating analysts’ average estimate of $2.54 billion, according to Refinitiv IBES.
Net income attributable to Conagra fell to $235.4 million, or 49 cents per share, in the quarter ended. Aug 29, from $329 million, or 67 cents per share, a year earlier.
(Reporting by Deborah Sophia and Mehr Bedi in Bengaluru; Editing by Vinay Dwivedi)
