Campbell Soup Profit Falls on Lower Sales Figures

Campbell Soup Company (NYSE:CPB) reported earnings today. Its profits fell 8% from last year, as a result of lower sales and higher procurement costs, beating analyst estimates by a good margin. Campbell Soup is a packaged foods maker company based out of Camden, NJ. The Company operates in four segments: U.S. Soup, Sauces and Beverages; Baking and Snacking; International Soup, Sauces and Beverages, and North America Foodservice. It reported a net income of $279 million, which comes to 82 cents per share. Last year, these figures were $304 million and 87 cents per share, respectively. Sales figures stood at $2.17 billion, which was slightly lower than last year’s. CPB shares are currently trading at $34.45, down 1.15% from previous value. The company has a market cap of $11.63 billion, and has a currently trading volume of half a million approximately. It has a 52 week range of $32.18-37.59, and a P/E of 14.34. The company reinstated its previous full year forecast of 1 to 3 percent sales growth and also forecast a rise in profits over the current year to the tune of 2 to 4%. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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