Campbell Soup Reports Quarterly Earnings of 33 Cents Per Share

Campbell Soup Company (CPB) reported net earnings of 33 cents per share for the quarter ended Aug. 1, compared with adjusted net earnings of 30 cents per share a year earlier.

The improvement in earnings was driven by a lower effective tax rate and a reduction in weighted average diluted shares outstanding, the company said in a statement. Sales fell 1% to $1.518 billion in the quarter.

Sponsored Links
"In a challenging year, we delivered strong earnings growth, overcoming softer-than-expected sales, particularly in our U.S. soup business," CEO Douglas Conant said.

For the full fiscal year, Campbell Soup reported adjusted net earnings of $862 million, or $2.47 per share, compared with $794 million, or $2.21 per share, for the previous year. Sales rose 1% to $7.676 billion.

For fiscal 2011, Campbell forecast sales growth of 2% to 3%, with growth of 5% to 7% in earnings per share.
Read Full Story


NASDAQ 7,166.68 -178.61 -2.43%
S&P 500 2,643.70 -68.23 -2.52%
DJIA 23,959.55 -722.76 -2.93%
NIKKEI 225 21,591.99 211.02 0.99%
HANG SENG 31,071.05 -343.47 -1.09%
DAX 12,100.08 -209.07 -1.70%
USD (per EUR) 1.23 0.00 -0.27%
USD (per CHF) 0.95 0.00 0.09%
JPY (per USD) 105.34 -0.58 -0.55%
GBP (per USD) 1.41 0.00 -0.24%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.