Campbell: Fiscal 4Q Earnings Snapshot
CAMDEN, N.J. (AP) _ Campbell Soup Co. (CPB) on Friday reported a fiscal fourth-quarter loss of $8 million, after reporting a profit in the same period a year earlier.
The Camden, New Jersey-based company said it had a loss of 3 cents per share. Earnings, adjusted for non-recurring costs and asset impairment costs, came to 42 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The maker of canned soup, Pepperidge Farm cookies and V8 juice posted revenue of $1.78 billion in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $2 billion.
For the year, the company reported profit of $211 million, or 70 cents per share. Revenue was reported as $8.11 billion.
Campbell expects full-year earnings in the range of $2.50 to $2.55 per share.
Campbell shares have increased 31% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 17%. The stock has risen slightly more than 8% in the last 12 months.