Campbell Soup Company (CPB - Free Report) , the manufacturer of branded convenience food products, reported second-quarter fiscal 2018 adjusted earnings of $1.00 per share that outpaced the Zacks Consensus Estimate of 81 cents and also grew 9.9% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 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 3.8%.
Revenues: Campbell Soup generated total sales of $2,180 million that inched up 0.4% year over year and also came ahead of the Zacks Consensus Estimate of $2,174 million. However, organic sales declined 2% due to soft volumes.
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 -6 to -4%, compared with the previous guidance of -4 to -2%. Adjusted earnings per share are now anticipated to change in the range of -5 to -3% versus the prior forecast of -3 to -1% change.
Zacks Rank: Currently, Campbell Soup carries a Zacks Rank #3 (Hold), 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 2% 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 second-quarter fiscal 2018 adjusted earnings of $1.00 per share that outpaced the Zacks Consensus Estimate of 81 cents and also grew 9.9% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 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 3.8%.
Revenues: Campbell Soup generated total sales of $2,180 million that inched up 0.4% year over year and also came ahead of the Zacks Consensus Estimate of $2,174 million. However, organic sales declined 2% due to soft volumes.
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 -6 to -4%, compared with the previous guidance of -4 to -2%. Adjusted earnings per share are now anticipated to change in the range of -5 to -3% versus the prior forecast of -3 to -1% change.
Zacks Rank: Currently, Campbell Soup carries a Zacks Rank #3 (Hold), 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 2% during pre-market trading hours.
Check back later for our full write up on Campbell Soup’s earnings report!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
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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