Companies and Brands
What to Expect When Campbell Soup Reports Friday Morning
Published:
Last Updated:
Campbell Soup Co. (NYSE: CPB) is scheduled to release its most recent quarterly results before the markets open on Friday. The consensus estimates are calling for $0.41 in earnings per share (EPS) and $1.98 billion in revenue. The fiscal fourth quarter from last year had $0.44 in EPS and $2.22 billion in revenue.
During the fiscal third quarter, sales from continuing operations increased 16% to $2.2 billion, reflecting a 17-point benefit from the acquisition of Snyder’s-Lance, which was completed in late-March. Organic sales were comparable to the prior year as declines in Meals and Beverages offset gains in Global Biscuits and Snacks.
In terms of discontinued operations for the third quarter, sales decreased 15% to $210 million driven primarily by declines in refrigerated soup, reflecting the previously announced plans of certain major private label customers to in-source production in 2019.
In the fiscal third quarter, Campbell Soup said that it expects to see EPS in the range of $2.50 to $2.55 and net sales between $9.075 billion and $9.125 billion for the fiscal full year. Consensus estimates are calling for $2.54 in EPS and $9.15 billion in revenue for the 2019 fiscal year.
Excluding Thursday’s move, Campbell Soup has outperformed the broad markets with its stock up about 27% year to date. In the past 52 weeks, the stock is only up about 3%.
A few analysts weighed in on Campbell Soup ahead of results:
- JPMorgan has a Neutral rating with a $41 price target.
- Barclays has a Sell rating with a $43 price target.
- Merrill Lynch has an Underperform rating with a $32 price target.
- Evercore ISI has a $43 price target.
- UBS has as Sell rating with a $36 price target.
- Wells Fargo has a Market Perform rating with a $41 price target.
- Credit Suisse has an Underperform rating with a $36 price target.
Shares of Campbell Soup were last seen up about 3% at $43.24, with a 52-week range of $32.03 to $43.84. The consensus analyst price target is $39.57.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
