NEW YORK (AP) -- Campbell Soup Co. is set to report its fiscal fourth quarter results Tuesday before the market opens, which should give a glimpse of how the company is faring in its turnaround efforts.
WHAT TO WATCH FOR: The Camden, N.J.-based company also makes V8 juice and Pepperidge Farm baked goods. But it relies on its soup unit for about half its business, and sales have been declining in recent years.
When taking over the top spot about a year ago, CEO Denise Morrison vowed to fix the soup business. The company has been introducing new products, such as new flavors of its Chunky soups, to win back consumers. But in the previous quarter, the company said sales of U.S. soups fell 3 percent from a year ago.
THE BIG PICTURE: Campbell plans to introduce new products this fiscal year targeted at younger consumers between the age of 18 and 34, which it refers to as Millennials.
But even as it looks to fix its soup business, Campbell is moving to expand into faster-growing areas. Last month, the company said it would buy premium juice maker Bolthouse Farms for $1.55 billion cash, as a way to move into the fresh, packaged food category. Campbell expects the $12 billion market for packaged fresh foods to grow about 6 percent to 7 percent per year, outpacing the broader packaged-food category.
WHAT'S EXPECTED: Analysts, on average, expect a profit of 39 cents per share, on revenue of $1.59 billion, for the quarter ended July 31.
PREVIOUS YEAR'S QUARTER: Campbell earned $100 million, or 31 cents per share, in the year-ago quarter. Revenue was $1.61 billion.
