The world's largest soup maker Campbell Soup Co. (CPB) is scheduled to report its first-quarter results before the market opens Monday, with analysts projecting earnings of $0.81 per share on revenue of $2.28 billion. In the year-ago quarter, the company reported adjusted earnings of $0.77 per share on net sales of $2.25 billion.
Campbell manufactures and markets branded convenience food products. It operates in four segments: U.S. Soup, Sauces, and Beverages; Baking and Snacking; International Soup, Sauces, and Beverages; and North America Foodservice.
While reporting fourth-quarter numbers, the company said it projects fiscal 2010 adjusted net earnings per share growth of between 5% and 7% from the fiscal 2009 adjusted base of $2.22. The company expects a rise in net sales of 3% - 4% and an increase in adjusted earnings before interest and taxes of 5% -6%.
Further, the Camden, New Jersey-based company expects benefits from its ongoing efforts to drive product innovation and expand margins through reduced costs and increased productivity, offset in part by the negative impact of an estimated $0.06 per share in increased pension expense.
Most recently, Campbell Soup's board approved a 10% increase in its quarterly dividend to $0.275 per share from $0.25 per share, effective in the second quarter of fiscal 2010.
For the fourth quarter, the company reported a decline in profit, totaling $69 million or $0.20 per share, compared to $89 million or $0.24 per share in the year-ago period, as sales declined across all its segments and the company incurred a higher impairment charge. Net sales for the quarter decreased to $1.528 billion from $1.715 billion in the previous year.
Among Campbell Soup's rivals, the Minneapolis, Minnesota-based packaged food supplier General Mills Inc. (GIS) posted higher profit for the first quarter that totaled $420.6 million or $1.25 per share, compared to $278.5 million or $0.79 per share in the year-ago quarter. Net sales improved 0.6% to $3.52 billion from the previous year's $3.49 billion.
For fiscal 2010, the company increased its earnings forecast to $4.40 - $4.45 per share, excluding any impact from mark-to-market effects. Earlier, General Mills expected earnings between $4.20 and $4.25 per share, excluding any mark-to-market impact.
Another peer, the Pittsburgh, Pennsylvania-based ketchup, sauces and soup maker H. J. Heinz Co. (HNZ) reported first-quarter net income of $212.56 million or $0.67 per share, down from the prior-year's $228.96 million or $0.72 per share, as unfavorable currency effects drove down sales to $2.47 billion from $2.58 billion in the comparable quarter of the previous year. Further, Heinz continues to expect fiscal 2010 earnings per share growth in a range of 5%-8% and sales growth of 4%-6% on a constant currency basis.
Campbell Soup shares, which have been trading between $24.63 and $37.33 in the past 52 weeks, closed Friday's regular trading session at $34.12, up 7 cents or 0.21%, on a volume of 2.69 million shares.
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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.