Nov 20 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 percent in premarket trading.
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 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.
Sales rose nearly 1 percent 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 percent to 12
Campbell shares rose to $37.77 in premarket trade from their
close on Monday at $36.95.