UPDATE 1-Conagra quarterly sales, profit beat on hurricane-fueled demand

(Adds details on quarter, share price)

Dec 21 (Reuters) - Conagra Brands Inc, the maker of Reddi-Wip whipped cream and Chef Boyardee pasta, reported better-than-expected second-quarter revenue and profit on Thursday, as consumers stocked up on food items because of hurricanes.

Conagra's shares were up 4 percent in premarket trading, even as the company warned that higher-than-anticipated inflation, hurricane-related costs and increased investments to expand distribution were pressuring near-term margins.

Conagra has been revamping its business that has struggled with customers moving away from packaged foods. It has also been refreshing brands such as Banquet's frozen meals to meet customers' preference for more protein-rich products with fewer artificial ingredients.

Net income almost doubled to $223.5 million, or 54 cents per share, in the second quarter ended Nov. 26 from $122.1 million, from 28 cents per share, a year earlier.

Selling and general expenses fell 26.5 percent. The company's year-earlier quarter included a $43.9 million pre-tax charge related to goodwill impairment in its Mexican business.

Excluding items, the company earned 55 cents per share, beating the average analyst estimate of 52 cents, according to Thomson Reuters I/B/E/S.

Revenue rose 4 percent to $2.17 billion, coming in above analysts' average estimate of $2.07 billion.

The company also said it would buy Sandwich Bros of Wisconsin, which makes frozen breakfast and sandwiches from antibiotic-free chicken and Angus beef, for an undisclosed amount. (Reporting by Sruthi Ramakrishnan; Editing by Saumyadeb Chakrabarty, Bernard Orr)