Fiscal year 2020 fourth quarter earnings for Campbell Soup (NYSE:CPB) have CPB stock falling lower on Thursday. This comes despite reported revenue of $2.11 billion beating out Wall Street estimates of $2.08 billion. The company’s adjusted earnings per share (EPS) of 63 cents also beat out analysts’ expectations of 60 cents during the quarter.
Additionally, the company reported GAAP EPS of 28 cents for the period.
Here is what else is worth mentioning from the most recent Campbell Soup earnings report:
- Adjusted EPS was 50% higher from 42 cents during Q4 2019;
- Revenue for the quarter comes in 18.5% higher compared to $1.78 billion during the same time last year;
- Fiscal year 2020 Q4 net income was $86 million;
- That’s a big improvement from a net loss of $8 million during the fourth quarter of 2019.
Mark Clouse, president and CEO of Campbell Soup, said this about the CPB stock earnings:
“Our strong fourth-quarter and full-year fiscal 2020 performance was enabled by the extraordinary work of our teams who remained agile and resilient in a challenging operating environment. We continued to invest in our businesses during the quarter as we experienced unprecedented demand for our products and welcomed millions of new households to the Campbell portfolio. This quarter concluded a year that furthered our strategic plan and solidified a significantly strengthened foundation that we will build upon going forward as we begin fiscal 2021.”
The company did offer some guidance for the first quarter of FY2021. That guidance calls for a revenue increase of between 5% to 7% from Q4 of FY2020, and EPS growing 13% to 18% to between 88 cents and 92 cents.
With that in mind, Wall Street analysts are calling for EPS of 90 cents on revenue of $8.65 billion.
CPB stock was down 5.6% on Thursday.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick is a web editor at InvestorPlace.