Campbell Soup Company (CPB - Free Report) , the manufacturer of branded convenience food products, reported first-quarter fiscal 2017 adjusted earnings of $1.00 per share that came ahead of the Zacks Consensus Estimate of 95 cents and increased 5% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 has witnessed a downtrend but remained stable for fiscal 2018 in the last 30 days.
Revenues: Campbell Soup generated total sales of $2,202 million that was almost in line with the year-ago and the Zacks Consensus Estimate of $2,201.5 million. Organic sales fell 1% due to decline in Campbell Fresh, partially offset by gain in Global Biscuits and Snacks.
Guidance: Campbell Soup maintained its fiscal 2017 outlook. It expects sales to be flat to up 1%. Adjusted EBIT is expected to increase 1–4% and adjusted earnings per share are anticipated in the range of $3.00–$3.09 per share, reflecting an increase of 2–5% year over year.
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 dipped nearly 3.7% during pre-market trading hours following the dismal Q1 earnings and sales performance.
Check back later for our full write up on Campbell Soup’s earnings report!
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