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Campbell Soup Q4 Earnings In Line, Sales Miss Estimates

Campbell Soup CompanyCPB , the manufacturer of branded convenience food products, came out with second-quarter fiscal 20Array6 results, wherein adjusted earnings of 87 cents a share were in line with the Zacks Consensus Estimate. Also, the bottom line jumped nearly 23% year over year.

Following the quarter, Campbell Soup reiterated its outlook for fiscal 20Array6, where it expects net sales growth to come in between -Array% to 0% range. Also, adjusted EBIT is expected to rise Array0% to Array3%, while adjusted earnings of $2.88 - $2.96 per share are expected to grow 9% to Array2%.

Earnings Estimate Revision: The Zacks Consensus Estimate has been witnessing a downtrend in the last 30 days. However, the company's performance over the trailing four quarters has been quiet encouraging. In the trailing four quarters (including the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of Array2.2%.

Revenues: Campbell Soup generated total sales of $2,20Array million that declined Array% year over year and missed the Zacks Consensus Estimate of $2,203 million. The year over year decline is attributed to the adverse currency translations coupled with lower volumes, offset by higher prices, benefits of the Garden Fresh Gourmet acquisition and lower promotional spending. Organic sales were flat driven by strong performance of the Global Biscuits and Snacks division, compensated by lower sales at other divisions.

Zacks Rank: Currently, Campbell Soup carries a Zacks Rank #Array (Strong Buy) which is subject to change following the earnings announcement.

Check back later for our full write up on Campbell Soup's earnings report!

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


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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