Campbell Soup Co. (CPB) reported that its third-quarter net earnings attributable to the company rose to $181 million or $0.57 per share, from $177 million or $0.55 per share, in the prior year.
Excluding restructuring and restructuring-related charges, adjusted net earnings increased 8 percent to $195 million, compared with $180 million in the prior year's quarter, and adjusted net earnings per share increased 11 percent to $0.62 compared with $0.56 in the year-ago quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.56 per share for the quarter. Analysts' estimates typically exclude special items.
Net Sales for the quarter increased 15 percent to $2.094 billion from last year's $1.821 billion. Thirteen analysts had consensus revenue estimate of $2.04 billion for the quarter.
The company revised its previous fiscal 2013 guidance. Campbell now expects to grow sales at the upper end of the 10- to 12-percent range and adjusted EBIT at the upper end of the 4- to 6-percent range.
Adjusted earnings per share, benefitting from a favorable tax rate and the EBIT improvement, is now expected to exceed the previous range of 3 to 5 percent. The company now expects adjusted earnings to grow between 6 and 7 percent, putting adjusted earnings per share in the range of $2.58 to $2.62. Earlier, the company had expected adjusted earnings per share to increase 3 to 5 percent, to a range of $2.51 to $2.57 per share for fiscal 2013.
This guidance includes the estimated impact of the Bolthouse Farms business and excludes the impact of acquisition transaction costs and restructuring charges.
In fiscal 2013, Campbell expects Bolthouse Farms to contribute approximately $750 million to sales and add approximately $0.06 to adjusted earnings per share, including the impact of the suspension of Campbell's strategic share repurchase program.
Analysts expect the company to report earnings of $2.56 per share on revenues of $8.54 billion for fiscal 2013.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.