Campbell Soup Company (CPB - Free Report) , the manufacturer of branded convenience food products, reported fourth-quarter fiscal 2017 adjusted earnings of 52 cents a share lagging the Zacks Consensus Estimate of 55 cents and up 13% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 and 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 1.8%, with a miss in two quarters.
Revenues: Campbell Soup generated total sales of $1,664 million were down 1% year over year and missed the Zacks Consensus Estimate of $1,689 million. Organic sales also declined 1% due to lower volumes.
Guidance: Campbell Soup provided outlook for fiscal 2018. It expects sales change in the range of -2 to 0% for fiscal 2018. Adjusted EBIT is expected to change in the range of -1 to 1%, while adjusted earnings per share are anticipated to change in the range of 0–2%.
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 1.1% during pre-market trading hours.
Check back later for our full write up on Campbell Soup’s earnings report!
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