Campbell's Soup Co. (CPB) Tops Analyst Estimates In Q3 2013 Earnings Report

  @CareyDrew2 on May 20 2013 8:39 AM

Campbell's Soup Co. Campbell's condensed, ready-to-serve soups and broth businesses contributed to the company's double-digit sales growth.  Reuters

Campbell’s Soup Co. (NYSE:CPB) on Monday reported Q3 2013 profits of $181 million, or 57 cents per share, compared with $177 million, or 55 cents per share, in the prior year.

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.

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