Companies and Brands
What to Expect When Campbell Soup Reports Wednesday Morning
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Campbell Soup Co. (NYSE: CPB) is scheduled to release its most recent quarterly results before the markets open on Friday. The consensus estimates are calling for $0.71 in earnings per share (EPS) and $2.19 billion in revenue. The fiscal first quarter of last year reportedly had $0.79 in EPS and $2.69 billion in revenue.
In its fiscal fourth quarter, revenues dropped about 9% year over year to $2.02 billion. In terms of its segments, Campbell Soup reported that Meals & Beverages organic net sales increased 1% year over year to $813 million, while Snacks organic net sales increased 4% to $967 million.
The strong fourth-quarter results culminated a year of steady, positive performance for Campbell. The firm delivered consistent results and met or exceeded expectations for four consecutive quarters.
According to management, the company made significant progress against its 2019 strategic initiatives, namely:
Excluding Thursday’s move, Campbell Soup shares had outperformed the broad markets, with its stock up about 43% year to date. In the past 52 weeks, the stock was only up about 19%.
A few analysts weighed in on Campbell Soup ahead of results:
Shares of Campbell Soup traded at $47.26 on Tuesda, in a 52-week range of $32.03 to $48.39. The consensus price target is $42.77.
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