Campbell Soup 1st-qtr profit falls, stands by 2013 outlook
Nov 20 (Reuters) - Campbell Soup Co reported lower quarterly net earnings on Tuesday, hurt by charges related to its recent acquisition of Bolthouse Farms, and stood by its full-year forecast.
The soup company, which also makes Prego pasta sauce and V8 juice, said net profit fell to $245 million, 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 Bolthouse deal and restructuring charges, earnings were 88 cents per share.
Sales rose to $2.34 billion from $2.16 billion.
The company said it still expects earnings of $2.51 to $2.57 per share in fiscal 2013 on sales growth of 10 percent to 12 percent.
- China food scandal spreads, drags in Starbucks, Burger King and McNuggets in Japan |
- U.S. court rulings create new uncertainty over Obamacare
- Israel pounds Gaza despite international peace efforts |
- EU readies possible capital, tech sanctions on Russia
- Islamic State crushes and coerces on march towards Baghdad