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 story : Campbell Soup stock jumps after earnings beat, sales guidance raised #FinanceUSA #StockMarketNEWS Campbell Soup Co. shares rose 4.7% in Wednesday premarket trading after it reported fiscal third-quarter

@stockMarketNEWS Thu 09 Jun, 2022

Posted in: #FinanceUSA #StockMarketNEWS

Campbell Soup stock jumps after earnings beat, sales guidance raised #FinanceUSA #StockMarketNEWS
Campbell Soup Co. shares rose 4.7% in Wednesday premarket trading after it reported fiscal third-quarter earnings that beat expectations and raised full-year sales guidance. The food company posted net income totaling 8 million, or 62 cents per share, up from 0 million, or 54 cents per share, last year. Adjusted EPS of 70 cents beat the FactSet consensus for 61 cents. Sales of .130 billion were up from .984 billion and ahead of the FactSet consensus for .042 billion. "Our improved supply chain execution along with inflation-driven pricing began to mitigate the margin pressure we have experienced over the last 12 months," said Chief Executive Mark Clouse in a statement. For the year, Campbell's now expects sales to be flat to up 1% versus previous guidance for flat to down 2%. Organic net sales are now expected to grow 1% to 2%, up from previous guidance for down 1% to up 1%. The FactSet consensus is for sales of .411 billion, implying a 0.8% decline. Campbell's still expects adjusted EPS of .75 to .85. The FactSet consensus is for .78. Campbell's stock has gained 7.2% for the year to date while the S&P 500 index is down 12.7% for the period.


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