Highlights From Campbell Soup Co. (CPB) Q3 Conference, Looks To Offer More Acurrate Outlook in July at Annual Analyst Day
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Price: $23.95 +0.76%
Revenue Growth %: -7.3%
Financial Fact:
Dividends: 0.35
Today's EPS Names:
BTTX, VAXX, ELYS, More
Revenue Growth %: -7.3%
Financial Fact:
Dividends: 0.35
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Shares of Campbell Soup Co. (NYSE: CPB) are down $0.30 or 0.82% to $34.95 following the release of its Q3 results.
The company reported its Q3 results with an EPS of $0.57, $0.05 better than the analyst estimate of $0.52, while revenue for the quarter came in at $1.81 billion versus the consensus estimate of $1.8 billion.
Here are some highlights from the CPB’s Q3 conference call on May 23, 2011:
•EBIT increased by 1% in the quarter to $307 million, primarily driven by lower marketing, selling, and administrative expenses.
•Gross margin percentage declined from 41.2% to 40.4% due to cost inflation and higher plant costs.
•Marketing and selling expense declined from $252 million to $243 million this quarter.
•Average shares outstanding decreased 6% in the quarter due to strategic share repurchase program.
•Segment results for the quarter, U.S. Soups, Sauces and Beverages sales declined 8% reflecting lower sales across the portfolio. U.S. Soup sales fell 7%.
•Operating earnings increased declined 10% to $193 million this quarter from $214 million a year ago.
•U.S. Beverage sales declined 9% compared to a very strong year-ago period in which, sales grew by 13%.
•U.S. Soup sales for the quarter declined by 7% while condensed soup sales fell 2%.
•Sales of ready-to-serve soups declined 15% while broth decreased 2%.
•Organic sales in our International Soup, Sauces and Beverages segment increased 1% as sales growth in the Asia-Pacific region.
•North America Food Service segment, organic sales increased by 4%.
•Inventory levels are beginning to normalize
•At this point the company sees itself as a branded company and has no plans to expand in private-labels. That said, in a few instances it is already making private-label for some of its customers.
•Lower advertising in the quarter on Beverages. However, year to date our Beverage advertising is up 10%.
•Last, we'd like to remind you that we are hosting our annual Analyst Day on Tuesday, July 12th. At the event, Denise Morrison will share her strategic framework for the company with you.
The company reported its Q3 results with an EPS of $0.57, $0.05 better than the analyst estimate of $0.52, while revenue for the quarter came in at $1.81 billion versus the consensus estimate of $1.8 billion.
Here are some highlights from the CPB’s Q3 conference call on May 23, 2011:
•EBIT increased by 1% in the quarter to $307 million, primarily driven by lower marketing, selling, and administrative expenses.
•Gross margin percentage declined from 41.2% to 40.4% due to cost inflation and higher plant costs.
•Marketing and selling expense declined from $252 million to $243 million this quarter.
•Average shares outstanding decreased 6% in the quarter due to strategic share repurchase program.
•Segment results for the quarter, U.S. Soups, Sauces and Beverages sales declined 8% reflecting lower sales across the portfolio. U.S. Soup sales fell 7%.
•Operating earnings increased declined 10% to $193 million this quarter from $214 million a year ago.
•U.S. Beverage sales declined 9% compared to a very strong year-ago period in which, sales grew by 13%.
•U.S. Soup sales for the quarter declined by 7% while condensed soup sales fell 2%.
•Sales of ready-to-serve soups declined 15% while broth decreased 2%.
•Organic sales in our International Soup, Sauces and Beverages segment increased 1% as sales growth in the Asia-Pacific region.
•North America Food Service segment, organic sales increased by 4%.
•Inventory levels are beginning to normalize
•At this point the company sees itself as a branded company and has no plans to expand in private-labels. That said, in a few instances it is already making private-label for some of its customers.
•Lower advertising in the quarter on Beverages. However, year to date our Beverage advertising is up 10%.
•Last, we'd like to remind you that we are hosting our annual Analyst Day on Tuesday, July 12th. At the event, Denise Morrison will share her strategic framework for the company with you.
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