Campbell Soup reported strong fiscal fourth-quarter earnings on Thursday, boosted by people making more food at home because of the coronavirus pandemic. But its stock fell as it cited the difficulty of predicting how the pandemic-driven demand for its products will hold up.
Is Campbell Soup stock down Tuesday?
Jun 09, 2021 · Shares of Campbell Soup Co. CPB, -0.16% sank 7.7% in premarket trading Wednesday, after the soups, snacks and simple meals company reported fiscal third-quarter profit and sales that fell more ...
Why did Campbell Soup's first-quarter revenue beat expectations?
Apr 03, 2020 · Last year, in total, the company distributed US$1.40 to shareholders. Based on the last year's worth of payments, Campbell Soup has a trailing yield of 2.9% on the current stock price of $47.45 ...
What does Campbell Soup Company do?
May 28, 2020 · Don’t Drop Campbell’s Stock Yet. Why It Could be a Long-term Winner. Campbell Soup has jumped 34% in the past year. While it’s edged down in 2020, it’s nonetheless been named one of the ...
What is the stock price of Campbell Soup Company (cpbu)?
May 19, 2014 · May 19, 2014 9:04 AM EDT. Campbell Soup (CPB) is down after lowing its full year earnings guidance to the low end of its previous announced estimate. NEW YORK ( TheStreet) -- Campbell Soup ( CPB ...
Is Campbell Soup a good stock to buy?
Its Value Score of B indicates it would be a good pick for value investors. The financial health and growth prospects of CPB, demonstrate its potential to outperform the market. It currently has a Growth Score of C.
Is Campbell's soup shutting down?
Is CPB a buy now?
What is Campbell's best selling soup?
Why did Campbell's change mushroom soup?
Despite a strong earnings report, investor sentiment is changing
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What happened
Shares of Campbell Soup ( NYSE:CPB) were sliding today after a strong third-quarter earnings report wasn't enough to overcome a wider sentiment about the economic recovery. Investors seem to believe that companies like Campbell that have thrived during the pandemic will pull back as life returns to normal.
So what
Campbell, which owns brands like Pepperidge Farm, Swanson, Prego, and Snyder's, said overall sales rose 15% to $2.24 billion on 17% growth in organic sales, which excludes the impact of acquisitions, divestitures, and currency exchange. That result beat expectations at $2.22 billion.
Now what
Campbell also lifted its guidance for the quarter. The company is now calling for a full-year revenue increase of 5.5% to 6.5%, up from a prior range of a 1% decline to a 1% increase, and it expects adjusted EPS to be up 25% to 27% at $2.87 to $2.92, compared with a prior growth forecast of 11% to 13%.
What happened
Shares of food and beverage product company Campbell Soup ( NYSE:CPB) fell as much as 7.1% on Wednesday. The stock finished the trading day down about 7%.
So what
In addition to providing a broad overview of Campbell's retail environment and transformation plans, Morrison and Campbell CFO Anthony DiSilvestro were supposed to provide updates on the company's acquisition of Pacific Foods and its pending acquisition of Snyder's-Lance, which will be Campbell's largest acquisition ever.
Now what
Amid a challenging retail environment for Campbell, including higher costs and heightened competition, the company has struggled to increase sales organically. Organic sales were down 2% year over year in Campbell's second quarter as Morrison called the period "disappointing," citing "challenges in U.S. soup and Campbell Fresh."
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