Campbell Soup’s Q4 Profit Beats View, but Forecast a Little Light (CPB)

By Staff,

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Packaged foods maker Campbell Soup Company ( CPB ) on Friday said its fiscal fourth quarter profit surged 64% from last year, when one-time items weighed down results, but noted its 2011 outlook was a bit conservative amid challenging market conditions.

The Camden, NJ-based company reported fiscal fourth quarter net income of $113 million, or 33 cents per share, compared with $69 million, or 20 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 30 cents per share.

Sales fell less than 1% from last year, to $1.52 billion.

On average, Wall Street analysts expected a smaller profit of 30 cents per share, albeit on higher revenue of $1.59 billion.

Looking ahead, the company predicted full-year 2011 sales growth of 2% to 3% and EBIT growth of 4% to 5%, which could fall a bit below its original growth estimates.

Campbell Soup shares fell 32 cents, or -0.9%, in premarket trading Friday.

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 2.95% dividend yield, based on last night's closing stock price of $37.32.

Campbell Soup Company ( CPB ) is a "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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