Campbell Soup Earnings: What To Look For From CPB
Packaged food company Campbell Soup (NASDAQ:CPB) will be reporting results tomorrow before market open. Here’s what to expect.
Campbell Soup met analysts’ revenue expectations last quarter, reporting revenues of $2.37 billion, up 6.3% year on year. It was a decent quarter for the company, with an impressive beat of analysts’ organic revenue growth estimates.
Is Campbell Soup a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Campbell Soup’s revenue to grow 12% year on year to $2.32 billion, improving from the 4.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.62 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Campbell Soup has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Campbell Soup’s peers in the shelf-stable food segment, some have already reported their Q2 results, giving us a hint as to what we can expect. BellRing Brands delivered year-on-year revenue growth of 15.6%, beating analysts’ expectations by 2%, and SunOpta reported revenues up 21.1%, topping estimates by 6.9%. BellRing Brands traded up 6.7% following the results while SunOpta was also up 13%.
Read our full analysis of BellRing Brands’s results here and SunOpta’s results here.
There has been positive sentiment among investors in the shelf-stable food segment, with share prices up 2.1% on average over the last month. Campbell Soup is up 3.9% during the same time and is heading into earnings with an average analyst price target of $48.7 (compared to the current share price of $49.5).
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