Campbell Soup Falls Short Of Wall Street Forecasts

CAMDEN, NJ — Campbell Soup Co., based in Camden, on Tuesday reported fiscal first-quarter earnings of $275 million. The canned soup company said it had profit of 91 cents per share. Earnings, adjusted for non-recurring costs, came to 92 cents per share.

The results didn't meet Wall Street forecasts though, with the average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.

Campbell Soup, which also makes Pepperidge Farm cookies and V8 juice, posted revenue of $2.16 billion in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $2.18 billion.

Campbell expects full-year earnings in the range of $2.95 to $3.02 per share.

Campbell shares have fallen 17 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 15 percent. The stock has dropped nearly 8 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 https://www.zacks.com/ap/CPB

Photo credit: Mel Evans/Associated Press