Adjusted earnings per share for the New Jersey-based canned soup producer were reported at 62 cents per share, compared with 56 cents per share a year earlier, as revenue rose to $2.09 billion, from $1.82 billion a year earlier, the food company said.
Campbell’s earnings topped analyst expectations as previews had the company reporting earnings of 56 cents a share on revenue of $2.04 billion, according to MarketWatch.
Campbell’s CEO Denise Morrison credits the company's condensed, ready-to-serve soups and broth businesses with the double-digit sales growth. She also cited strong performance in its baking and snack foods.
The company revised its full-year outlook to the upper end of its 10 percent to 12 percent range and its earnings per share upward to a range of 6 percent to 7 percent. Campbell’s shares were unchanged in premarket trading.
My name is Carey Vanderborg and I'm a journalist working in New York City. I love food, travel, craft beer, live music and writing about all of the above.