Investors Punish Campbell Soup After Q4 Earnings Miss, Outlook

Campbell Soup Company CPB delivered mixed results for the fourth quarter. While its revenue was in-line with the predictions, adjusted earnings fell shy of the estimates.

On a GAAP basis, the company suffered a net loss of $81 million, or a loss of $0.26 a share, compared to net income of $17 million, or $0.05 a share, in the year-ago quarter. On an adjusted basis, EPS fell 6 percent from $0.49 to $0.46 and missed the Street estimates of $0.50 a share.

Campbell net sales remained flat at $1.69 billion and came in line with the analysts' predictions.

President and CEO Denise Morrison said, "While we have made progress, we recognize we need to deliver sales growth – and it remains a top priority. Reflecting its confidence in our long-term growth prospects and strong profit performance this year, the Board declared a 12 percent increase in our quarterly dividend today."

Moving ahead, the company expects adjusted EPS to be $3.00-$3.09 on sales growth of zero to 1 percent. Street is looking for an EPS of $3.14 on one percent growth in revenue.

The stock dropped $2.22, or 3.66 percent, to $58.50 in the pre-market trading on Thursday.

CPB Logo
CPBThe Campbell's Co
$33.79-1.60%

Stock Score Locked: Edge Members Only

Benzinga Rankings give you vital metrics on any stock – anytime.

Unlock Rankings
Edge Rankings
Momentum
21.02
Growth
25.28
Quality
7.87
Value
36.83
Price Trend
Short
Medium
Long
Market News and Data brought to you by Benzinga APIs
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise

Posted In:
Comments
Loading...