Conagra’s Profit Outlook Disappoints as Tariffs Boost Costs (2)

Conagra Brands Inc. pointed to rising costs from US tariffs as the packaged food company forecast profit for this fiscal year below Wall Street’s expectations.

The Chicago-based company said adjusted earnings will be as much as $1.85 a share, compared to Wall Street estimates of $2.19 a share. Organic sales will be in a range of declining 1% to a gain of 1%. Analysts expected a gain of 0.48%.

The shares fell about 2% at 11:35 a.m. in New York. The stock had declined 27% this year through Wednesday, compared to a 6.5% gain for the S&P 500 Index.

Conagra, ...