Campbell Beats Street 2Q Forecasts

Campbell Soup Co. on Friday reported fiscal second-quarter earnings of $285 million.

Mnet 155565 Campbell Hero2

CAMDEN, N.J. (AP) — Campbell Soup Co. (CPB) on Friday reported fiscal second-quarter earnings of $285 million.

On a per-share basis, the Camden, New Jersey-based company said it had net income of 95 cents. Earnings, adjusted for one-time gains and costs, came to $1 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.

The maker of canned soup, Pepperidge Farm cookies and V8 juice posted revenue of $2.18 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $2.17 billion.

Campbell expects full-year earnings in the range of $3.10 to $3.17 per share.

Campbell shares have dropped roughly 1 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 2 percent. The stock has declined 25 percent in the last 12 months.

More in Supply Chain