Skip to main content

The Globe and Mail

Campbell Soup profit beats Street, boosted by new soups

JOSHUA LOTT/REUTERS

Campbell Soup Co. reported higher-than-expected quarterly earnings on Tuesday as the introduction of new soups helped lift sales, sending its shares up 2.2 per cent in pre-market trading.

The soup company, which also makes Prego pasta sauce and V8 juice, said net profit fell to $245-million (U.S.), or 78 cents per share, in its fiscal first quarter ended Oct. 28, from $265-million, or 82 cents per share, a year earlier.

Excluding costs related to the recent acquisition of Bolthouse Farms and restructuring charges, earnings were 88 cents per share. On that basis, analysts on average were expecting 85 cents, according to Thomson Reuters I/B/E/S.

Story continues below advertisement

Sales rose nearly 1 per cent to $2.34-billion, falling short of analysts' estimate of $2.37-billion.

The company said it still expects earnings of $2.51 to $2.57 per share in fiscal 2013 on sales growth of 10 per cent to 12 per cent.

Report an error
Comments

The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

We’ve made some technical updates to our commenting software. If you are experiencing any issues posting comments, simply log out and log back in.

Discussion loading… ✨

Combined Shape Created with Sketch.

Combined Shape Created with Sketch.

Thank you!

You are now subscribed to the newsletter at

You can unsubscribe from this newsletter or Globe promotions at any time by clicking the link at the bottom of the newsletter, or by emailing us at privacy@globeandmail.com.