Campbell Soup Company (CPB) Shares Heat Up on Q1 Earnings Results

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Campbell Soup Company (NYSE:CPB) stock was up on Tuesday following the release of its earnings report for its fiscal first quarter of 2017.

Campbell Soup Company, CPB

Campbell Soup Company reported earnings per share of $1.00 for its fiscal first quarter of 2017. This is a nickel increase over the earnings per share of 95 cents reported during the same time last year. It also came in above Wall Street’s earnings per share estimate of 95 cents.

Revenue reported by Campbell Soup Company for its first fiscal quarter of 2017 was $2.20 billion. This is the same revenue that the food company reported in its fiscal first quarter of 2017. It also matches what analysts’ were expecting from the company in the quarter.

Campbell Soup Company reported that Americas Simple Meals and Beverages sales were flat when compared to the same time last year. Global Biscuits and Snacks sales were up 3% for the quarter. However, Campbell Fresh sales saw a 6% decline in the company’s first fiscal quarter of 2017.

Campbell Soup Company said that it was expecting Campbell Fresh sales to decline during the quarter. It contributed this to a recall of Bolthouse Farms Protein PLUS drinks in June 2016 that has continued to restrict supplies. It also pointed out that carrot sales weren’t doing as well during the quarter.

Campbell Soup Company also reaffirmed its financial outlook for fiscal 2017 in its most recent earnings report. The company is expecting earnings per share for the year to range from $3.00 to $3.09. Wall Street is expecting CPB to report earnings per share of $3.04 for fiscal 2017.

CPB stock was up 3% as of Noon Tuesday.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/11/campbell-soup-company-cpb/.

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