ConAgra raising prices to help offset rising costs

ConAgra is cutting its fiscal 2022 outlook due to rising costs, which the food company will try to offset by boosting prices

ConAgra is cutting its fiscal 2022 outlook due to rising costs, which the food company will try to offset by boosting prices. ConAgra, whose brands include Duncan Hines, Slim Jim and Birds Eye, now foresees fiscal 2022 adjusted earnings of about $2.50 per share. It previously predicted earnings of $2.63 to $2.73 per share. Analysts polled by FactSet expect $2.62 per share. Shares of Chicago-based ConAgra fell nearly 5% in morning trading. The company said Tuesday that it expects consumer demand for its retail products will remain high compared with historical levels during fiscal 2022, as consumers have developed new habits during the COVID-19 pandemic.