AP NEWS

Campbell: Fiscal 2Q Earnings Snapshot

March 4, 2020 GMT

CAMDEN, N.J. (AP) _ Campbell Soup Co. (CPB) on Wednesday reported fiscal second-quarter net income of $1.21 billion, after reporting a loss in the same period a year earlier.

On a per-share basis, the Camden, New Jersey-based company said it had net income of $3.97. Earnings, adjusted for one-time gains and costs, were 72 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.

The maker of canned soup, Pepperidge Farm cookies and V8 juice posted revenue of $2.16 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $2.15 billion.

Campbell expects full-year earnings in the range of $2.55 to $2.60 per share.

Campbell shares have fallen 3% since the beginning of the year, while the Standard & Poor’s 500 index has declined 7%. The stock has climbed 33% in the last 12 months.

_____

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