Campbell Soup tops 4Q profit expectations, misses revenue forecasts

MarketsAssociated Press

Campbell Soup Co. (CPB) on Thursday reported fiscal fourth-quarter net income of $68 million.

The Camden, New Jersey-based company said it had net income of 22 cents per share. Earnings, adjusted for restructuring costs, came to 43 cents per share.

Continue Reading Below

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.

The maker of canned soup, Pepperidge Farm cookies and V8 juice posted revenue of $1.69 billion in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $1.71 billion.

Campbell expects full-year earnings in the range of $2.53 to $2.58 per share.

Campbell shares have risen nearly 9 percent since the beginning of the year, while the Standard & Poor's 500 index has dropped slightly more than 5 percent. The stock has risen 7 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CPB at http://www.zacks.com/ap/CPB

_____

Keywords: Campbell Soup, Earnings Report