Campbell Soup Beats on EPS, Revenue Falls Short Friday, September 3, 11:07 AM ET
Campbell Soup (NYSE:CPB ) posted fourth quarter earnings today that topped analyst expectations.
The company said profits totaled $113 million, or $0.33 per share, compared to $69 million, or $0.20 per share, in the same quarter last year.
Revenue fell 1% to $1.52 billion, below analyst estimates.
The company said sales were softer-than-expected for its namesake soups, as well as for Prego spaghetti sauces and Pace Mexican sauces.
Sales for V8 were strong, and the company said it has exciting new products in its Pepperidge Farm and Arnott’s portfolios.
The company said it expects earnings to growth 5%-7% in its 2011 fiscal year.
Fellow food producer Heinz (NYSE:HNZ ) beat expectations earlier in the week, on strength in emerging markets.
For MarketNewsVideo.com, I'm Kristin Bianco.
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