Campbell Soup Earnings: CPB Stock Rallies on Better-Than-Expected Q3

CPB beat EPS estimates by 9 cents

Campbell Soup earnings for the company’s fiscal third quarter of the year have CPB stock soaring on Wednesday.

Campbell Soup (NYSE:CPB) reported earnings per share of 56 cents for its fiscal third quarter of 2019. This is a drop from the company’s earnings per share of 70 cents from the same period of the year prior. However, it was still a blessing to CPB stock by coming in above Wall Street’s earnings per share estimate of 47 cents for the quarter.

The Campbell Soup earnings report for its fiscal third quarter of the year has net income coming in at $84 million. This is much better than the company’s net loss of $393 million reported in its fiscal third quarter of 2018.

Campbell Soup earnings for its fiscal third quarter of 2019 sees it bringing in operating income of $131 million. This is an improvement over the company’s operating income of $73 million reported during the same time last year.

Revenue reported in the Campbell Soup earnings release for its fiscal third quarter of the year comes in at $2.18 billion. This is up from the company’s revenue of $1.88 billion reported in its fiscal third quarter of the previous year. Despite the increase, this still misses analysts’ revenue estimate of $2.36 billion for the period, but that wasn’t keeping CPB stock down today.

CPB stock was up 8% as of noon Wednesday and is up 18% since the start of the year.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/06/campbell-soup-earnings-have-cpb-stock-up/.

©2019 InvestorPlace Media, LLC