Why Campbell Soup Shares Are Gaining Today
Portfolio Pulse from Shivani Kumaresan
Campbell Soup Company reported Q4 FY23 sales growth of 4.2% YoY to $2.068 billion, slightly beating the analyst consensus. Organic net sales rose 5%. The company's gross margin expanded to 31.7%. Adjusted EBIT decreased by 10% YoY. The company held $189 million in cash and equivalents as of July 30, 2023. Campbell expects FY24 adjusted EPS of $3.09-$3.15. The company's shares are trading higher by 3.74% in premarket.
August 31, 2023 | 1:30 pm
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Campbell Soup reported a 4.2% YoY increase in Q4 FY23 sales, slightly beating analyst expectations. The company's shares are trading higher by 3.74% in premarket.
Campbell Soup's Q4 FY23 sales growth and the expansion of its gross margin are positive indicators for the company's financial health. This, along with the company's FY24 EPS outlook, has likely contributed to the increase in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100