Shares of Campbell Soup (NYSE:CPB) rose 3.8% in pre-market trading after the company reported Q3 results.
Earnings per share were up 48.21% year over year to $0.83, which beat the estimate of $0.71.
Revenue of $2,238,000,000 decreased by 6.28% from the same period last year, which beat the estimate of $2,170,000,000.
Campbell Soup raised its FY20 adjusted EPS guidance from $2.55-$2.60 to $2.87-$2.92.
Conference Call Details
Date: Jun 03, 2020
Time: 08:30 AM
ET Webcast URL: https://edge.media-server.com/mmc/p/cfvy5ewr
52-week high: $57.54
52-week low: $35.27
Price action over last quarter: down 0.32%
With a history that dates back around 150 years, Campbell Soup is now a leading global manufacturer and marketer of branded convenience food products, most notably soup. The firm's product assortment includes well-known brands like Campbell's, Pace, Prego, Swanson, V8, and Pepperidge Farm. Following the sale of its international snacking operations, the firm is poised to derive nearly all of its sales from its home turf. Campbell has made a handful of acquisitions to reshape its product mix the past few years, including the tie-up with Snyder's-Lance (completed in March 2018), which stands to enhance its exposure to the faster-growing on-trend snack food aisle, complementing its Pepperidge Farm lineup.
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