Campbell Soup Delivers Q3 Growth And Cost Savings, Stirs Up Optimistic Outlook
Portfolio Pulse from Akanksha Bakshi
Campbell Soup Company (NYSE:CPB) reported a 6% YoY net sales growth for Q3 fiscal 2024, beating expectations. The Meals & Beverages segment saw a 15% increase, while Snacks declined by 2%. Adjusted EPS was $0.75, surpassing the consensus of $0.70. The company updated its fiscal 2024 guidance, expecting adjusted EPS of $3.07-$3.10 and sales growth of 3%-4%. CPB shares are trading lower by 1.63%.
June 05, 2024 | 3:03 pm
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Campbell Soup Company reported strong Q3 results with 6% YoY net sales growth and adjusted EPS of $0.75, beating expectations. The company updated its fiscal 2024 guidance, expecting adjusted EPS of $3.07-$3.10 and sales growth of 3%-4%. Despite the positive results, CPB shares are trading lower by 1.63%.
The strong Q3 results and updated fiscal 2024 guidance indicate positive performance and future growth potential. However, the current trading lower by 1.63% suggests a short-term market reaction that may not reflect the long-term outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100