Campbell Soup (CPB) Reports In-Line Q2 EPS, Offers Guidance
Campbell Soup (NYSE: CPB) reported Q2 EPS of $0.84, in-line with the analyst estimate of $0.84. Revenue for the quarter came in at $2.28 billion versus the consensus estimate of $2.3 billion.
GUIDANCE:
Campbell Soup sees FY2021 EPS of $3.03-$3.11, versus the consensus of $3.03.
- Following strong first half results, Campbell is providing full-year fiscal 2021 guidance that reflects cycling the COVID-19 related surge in demand during the second half of fiscal 2020, and an expected sequential improvement in margin as we progress through the remainder of fiscal 2021. Fiscal 2020 benefited from a 53rd week, which was estimated to be worth 2 percentage points of net sales, and approximately $0.04 on adjusted EPS.
Based on the foregoing, the company is providing full-year fiscal 2021 guidance as set forth in the table below:
Continuing Operations |
| FY 2020 Results |
| FY 2021 Guidance | |
($ in millions, except per share) |
|
|
|
|
|
Net Sales |
| $8,691 |
|
| -3.5% to -2.5% |
Organic Net Sales |
| $8,515 | * |
| -1.5% to -0.5% |
|
|
|
|
|
|
Adjusted EBIT |
| $1,449 | * |
| -1% to +1% |
|
|
|
|
|
|
Adjusted EPS |
| $2.95 | * |
| +3% to +5% |
|
|
|
|
| $3.03 to $3.11 |
For earnings history and earnings-related data on Campbell Soup (CPB) click here.