(Reuters) -Conagra Brands forecast annual profit below expectations on Thursday, anticipating higher costs of ingredients due to U.S. tariffs, softer demand for its pantry staples and increased private label competition.

The packaged food company expects its adjusted profit per share to be between $1.70 and $1.85 for fiscal year 2026, compared with analysts' average estimate of $2.19, according to data compiled by LSEG.