Campbell: Fiscal Q3 Earnings Snapshot
Posted June 9, 2021 7:24 am.
Last Updated June 9, 2021 7:38 am.
CAMDEN, N.J. (AP) _ Campbell Soup Co. (CPB) on Wednesday reported fiscal third-quarter net income of $160 million.
The Camden, New Jersey-based company said it had profit of 52 cents per share. Earnings, adjusted for one-time gains and costs, came to 57 cents per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The maker of canned soup, Pepperidge Farm cookies and V8 juice posted revenue of $1.98 billion in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $2 billion.
Campbell expects full-year earnings in the range of $2.90 to $2.93 per share.
Campbell shares have climbed roughly 2% since the beginning of the year, while the S&P’s 500 index has increased 13%. The stock has declined 1.5% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CPB at https://www.zacks.com/ap/CPB
The Associated Press
