Campbell Soup Q3 Profit Beats View as Sales Rise (CPB)

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Food products giant Campbell Soup Company ( CPB ) on Monday said its third quarter profit fell more than 3% from last year, but adjusted results beat expectations amid higher revenue.

The Camden, NJ-based company reported fiscal third quarter net income of $168 million, or 49 cents per share, compared with $174 million, or 49 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 54 cents per share.

Sales rose nearly 7% from last year, to $1.80 billion.

On average, Wall Street analysts expected a smaller profit of 51 cents per share, on matching revenue.
Sales in the key U.S. soup segment rose 2 percent.

Looking ahead, the company predicted full-year sales to rise 2.5% to 3.5% from last year, with adjusted profit coming in at the high end of its previously-announced forecast for a 9% to 11% gain.

Campbell Soup shares were mostly flat in premarket trading Monday.

The Bottom Line
We have been recommending shares of CPB since Dec.2, when the stock was trading at $35.56. The company has a 3.10% dividend yield, based on Friday's closing stock price of $35.48.

Campbell Soup Company ( CPB ) is "recommended" dividend stock, holding a DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: CPB

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