Campbell Soup (CPB) Q4 Earnings Beat by a Penny, Sales Miss
Campbell Soup Company (CPB), the manufacturer of branded convenience food products, came out with fourth-quarter fiscal 2015 results, wherein adjusted earnings of 43 cents a share came a penny ahead of the Zacks Consensus Estimate. Also, the bottom line jumped nearly 5% year over year.
Following the quarter, Campbell Soup issued its outlook for fiscal 2016, where it expects net sales growth to come in a flat to +1% range. Further, adjusted earnings for the fiscal are envisioned to range from $2.53- $2.58 per share.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2015 and 2016 has been stable in the last 30 days. In the trailing four quarters (including the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 6.7%.
Revenues: Campbell Soup generated total sales of $1,693 million that declined 9% year over year and missed the Zacks Consensus Estimate of $1,709 million. The year over year decline in sales was mainly a result of the adverse currency translations coupled with the absence of a week compared to the year-ago period. However, organic sales inched up 1% year over year as the benefit from higher prices and lower promotional spending compensated for lower volumes.
Zacks Rank: Currently, Campbell Soup carries a Zacks Rank #2 (Buy) which is subject to change following the earnings announcement.
Check back later for our full write up on Campbell Soup’s earnings report!
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