Campbell Soup Company (CPB - Free Report) , the manufacturer of branded convenience food products, reported third-quarter fiscal 2018 adjusted earnings of 70 cents per share that outpaced the Zacks Consensus Estimate of 60 cents and grew 18.6% 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 outperformed the Zacks Consensus Estimate by an average of 1.3%.
Revenues: Campbell Soup generated total sales of $2,125 million that increased 14.7% year over year but came almost in line with the Zacks Consensus Estimate of $2,128 million. Further, organic sales remained flat with the prior-year quarter.
Guidance: Campbell Soup updated its fiscal 2018 guidance for sales, adjusted EBIT and earnings per share. It now expects sales to grow in the range of 10-11% for fiscal 2018. Adjusted EBIT is now expected to change in the range of -8 to -6%. Adjusted earnings per share are now anticipated to change in the range of -6 to -5% to $2.85-$2.90.
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 3.8% during pre-market trading hours.
Check back later for our full write up on Campbell Soup’s earnings report!
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