Campbell Soup 1Q Profit Slips

Published November 20, 2012

| Reuters

Campbell Soup Co reported lower quarterly net earnings on Tuesday, hurt by charges related to its recent acquisition of Bolthouse Farms, and stood by its full-year forecast.

The soup company, which also makes Prego pasta sauce and V8 juice, said net profit fell to $245 million, or 78 cents per share, in its fiscal first quarter ended Oct. 28, from $265 million, or 82 cents per share, a year earlier.

Excluding costs related to the Bolthouse deal and restructuring charges, earnings were 88 cents per share.

Sales rose to $2.34 billion from $2.16 billion.

The company said it still expects earnings of $2.51 to $2.57 per share in fiscal 2013 on sales growth of 10 percent to 12 percent.