Campbell Soup: Q3 Earnings Insights

Shares of Campbell Soup CPB moved higher by 1.2% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share were down 31.33% over the past year to $0.57, which missed the estimate of $0.66.

Revenue of $1,984,000,000 declined by 11.35% from the same period last year, which missed the estimate of $2,000,000,000.

Outlook

Campbell Soup lowered its FY21 EPS guidance from $3.03-$3.11 to $2.90-$2.93.

The company expects FY21 net sales to decrease 3-3.5%.

Conference Call Details

Date: Jun 09, 2021

Time: 08:00 AM

ET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Finvestor.campbellsoupcompany.com%2F&eventid=3124550&sessionid=1&key=87696A3E43544B82D9F90BBAD20081AE&regTag=&V2=false&sourcepage=register

Technicals

Company's 52-week high was at $54.08

Company's 52-week low was at $44.53

Price action over last quarter: Up 4.81%

Company Description

With a history that dates back around 150 years, Campbell Soup is now a leading manufacturer and marketer of branded convenience food products, most notably soup. The firm's product assortment includes well-known brands like Campbell's, Pace, Prego, Swanson, V8, and Pepperidge Farm. Following the sale of its international snacking operations, the firm derives nearly all of its sales from its home turf. Campbell has made a handful of acquisitions to reshape its product mix the past few years, including the tie-up with Snyder's-Lance (completed in March 2018), which stands to enhance its exposure to the faster-growing on-trend snack food aisle, complementing its Pepperidge Farm lineup.