Shares of ConAgra Foods were higher after the company posted better-than-expected earnings for the 2017 fiscal first quarter. The packaged food company reported earnings of $0.61 a share, beating analysts’ estimates by 13 cents a share. But, revenue of $2.67 billion for the period was below Wall Street’s expectations. ConAgra said it remains on track to execute the spinoff of its Lamb Weston business this fall. Lamb Weston will be a food service supplier of frozen potatoes. Last year, the company announced plans to separate into two, independent public companies.
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