Dec 22 (Reuters) - ConAgra Brands Inc, the maker of Chef Boyardee pasta and Hunt’s ketchup, reported lower-than-expected quarterly sales, hurt by a strong dollar and as it discontinued sales of less-profitable products.
The company posted quarterly results for the first time since spinning off its Lamb Weston frozen potato business in November to become a branded-foods only company.
Net income attributable to ConAgra fell to $122.1 million, or 28 cents per share, in the second quarter ended Nov. 27, from $154.9 million, or 35 cents per share, a year earlier.
Net sales fell to $2.09 billion from $2.36 billion a year earlier, below the average analyst estimate of $2.11 billion, according to Thomson Reuters I/B/E/S. (Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Martina D‘Couto)