Campbell Soup Company (CPB - Free Report) , 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.
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 Report) , 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.
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!
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Click here for Zacks' secret trade>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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