Campbell Soup (CPB) Misses Q1 EPS by 5c, Trims Guidance

Campbell Soup (NYSE: CPB) reported Q1 EPS of $0.92, $0.05 worse than the analyst estimate of $0.97. Revenue for the quarter came in at $2.16 billion versus the consensus estimate of $2.17 billion.

GUIDANCE:

Campbell Soup sees FY2018 EPS of $2.95-$3.02, versus the consensus of $3.06.

• For the full fiscal year, Campbell still expects the year-over-year change in net sales to be -2 to 0 percent. Campbell has lowered its earnings outlook and now expects adjusted EBIT to change by -4 to -2 percent (previously -1 to 1 percent) and adjusted EPS to change by -3 to -1 percent (previously 0 to 2 percent), or $2.95 to $3.02 per share. The change in guidance for adjusted EBIT and adjusted EPS is due primarily to Campbell’s gross margin performance in the first-quarter and revised outlook for the balance of the fiscal year. This guidance assumes the impact from currency translation will be nominal. A non-GAAP reconciliation is not provided for 2018 guidance since certain items are not estimable, such as pension and postretirement mark-to-market adjustments, and these items are not considered to reflect the company's ongoing operating results.

For earnings history and earnings-related data on Campbell Soup (CPB) click here.

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