Campbell Soup Company (NYSE:CPB) , the manufacturer of branded convenience food products, reported first-quarter fiscal 2018 adjusted earnings of 92 cents a share lagging the Zacks Consensus Estimate of 97 cents and down 8% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 and 2019 has been stable in the last 30 days. If we look at Campbell Soup’s performance in the trailing four quarters (excluding the quarter under review), the company has underperformed the Zacks Consensus Estimate by an average of 1.2%, with a miss in two quarters.
Campbell Soup Company Price and EPS Surprise
Campbell Soup Company Price and EPS Surprise | Campbell Soup Company Quote
Revenues: Campbell Soup generated total sales of $2,161 million were down 2% year over year, while it missed the Zacks Consensus Estimate of $2,180 million. Organic sales also declined 2% due to soft sales at Americas Simple Meals and Beverages division driven by lower U.S. soup sales.
Guidance: Campbell Soup revised its fiscal 2018 guidance for adjusted EBIT and earnings per share growth percentages. It continues to expect sales change in the range of -2 to 0% for fiscal 2018. Adjusted EBIT is now expected to change in the range of -4 to -2%, compared with the previous guidance of -1 to 1% change. Adjusted earnings per share are now anticipated to change in the range of -3 to -1% versus the prior forecast of 0–2% change.
Zacks Rank: Currently, Campbell Soup carries a Zacks Rank #4 (Sell), which is subject to change following the earnings announcement.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Campbell Soup’s shares declined nearly 1% during pre-market trading hours.
Check back later for our full write up on Campbell Soup’s earnings report!
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Campbell Soup Company (CPB): Free Stock Analysis Report
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