Campbell Soup Co (CPB) reported first quarter net earnings of $304 million or $0.87 per share, compared to $260 million or $0.70 per share last year.
Adjusted net earnings were $304 million or $0.87 per share, compared to $281 million or $0.76 per share in the prior year quarter.
On average, 15 analysts polled by Thomson Reuters expected the company to report earnings of $0.81 per share. Analysts' estimates typically exclude special items.
Net sales declined to $2.2 billion from $2.25 billion in the same quarter last year.
Ten analysts estimated revenues of $2.28 billion.
Campbell now expects fiscal 2010 sales growth of 4 to 5 percent, up from its original guidance of 3 to 4 percent for sales.
The company now expects to deliver adjusted EPS growth of 9 to 11 percent from the fiscal 2009 adjusted base of $2.21, up from its original estimate of 5 to 7 percent. This guidance includes the impact of currency translation, which at quarter-end rates of exchange would be favorable by 3 to 4 percentage points.
Analysts expect the company to earn $2.39 per share, on revenues of $7.94 billion.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.