Conagra Brands Inc. (CAG) Has Tumbled To A New Low On Forecast

( - Conagra Brands Inc. ( CAG ) reported second quarter adjusted EPS of $1.14 Thursday morning, which topped the consensus estimate of $0.55. The company's revenue for the quarter rose 9.7% to $2.38 billion from $2.17 billion last year. The consensus estimate was for revenues of $2.41 billion.

The company expects to report full year EPS of $2.03 to $2.08. Street expectations are for EPS of $2.11.

Conagra Brands gapped open sharply lower this morning and has continued to fall in early trade. Shares are now down 2.55 at $26.54. The stock has dropped to a new low for the year.

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