Campbell Soup Posts Strong Earnings

The food giant reported revenue of $2.13 billion in its latest quarter.

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CAMDEN, N.J. (AP) β€” Campbell Soup Co. on Wednesday reported fiscal third-quarter net income of $188 million.

The New Jersey-based company said it had net income of $0.62 per share. Earnings, adjusted for non-recurring costs and restructuring costs, came to $0.70 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $0.61 per share.

The maker of canned soup, Pepperidge Farm cookies and V8 juice posted revenue of $2.13 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $2.04 billion.

Campbell expects full-year earnings in the range of $2.75 to $2.85 per share.

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