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OMAHA, Neb. - ConAgra Foods Incorporated says its third-quarter profit soared 60 percent as it raised prices and improved sales. The year-ago results were depressed by recall costs, however.
| CAG | 19.36 |  -0.21 |
ConAgra also announced Thursday that it plans to sell its commodities trading group to the Ospraie Special Opportunities fund for $2.1 billion in cash and stock.
In the third quarter, ConAgra reported net income of $309 million, or 63 cents per share. That's up from roughly $193 million, or 38 cents per share, a year ago when ConAgra was recalling its Peter Pan peanut butter.
ConAgra reported revenue of $3.53 billion.
Analysts polled by Thomson Financial expect earnings of 39 cents per share on revenue of $3.17 billion.
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