Published: Fri, September 02, 2016
Economy | By Melissa Porter

Campbell Soup falters with push into fresh foods

Campbell Soup falters with push into fresh foods

Next Fiscal Year EPS Estimate is projected at $3.15.

Campbell Soup Company has 308,647,000 shares now held by shareholders which now trade around the 61.04 mark which totals Campbell Soup Company's market capitalisation to 18.84B United States dollars.

Campbell Soup Co, the world's largest soup maker, reported a smaller-than-expected quarterly profit and said it was disappointed with the performance of its Campbell Fresh business, which sells fresh and organic foods.

Ciena Corporation (NYSE:CIEN) reported revenue of $670.6 million as compared to $602.9 million for the fiscal third quarter 2015.

On the juices side of Bolthouse Farms, a recall in June of Bolthouse Farms Protein PLUS drinks, because they could potentially spoil, hurt results. Excluding items impacting comparability, adjusted EBIT increased 11 percent to $1.467 billion reflecting a higher adjusted gross margin percentage and the benefits from cost savings initiatives, partly offset by the adverse impact of currency translation, higher incentive compensation costs, and volume declines.

As part of the efforts to align its business structure with its strategy, the company had realigned its business segments, with effect from the first quarter of fiscal 2016.

The company's problems in the quarter were centered around its Campbell Fresh business, which it has been boosting through acquisitions to cater to consumers' increasing preference for fresh and organic foods over processed foods. During the same quarter in the previous year, the company posted $0.43 EPS. The global biscuits and snacks business saw a 2 percent sales increase.

Campbell Fresh: Sales at this segment declined 5% year over year to $223 million. For Campbell, that has meant buying brands including Bolthouse Farms in 2012 and Garden Fresh Gourmet previous year. This was somewhat compensated by strength noted in fresh soup and Bolthouse Farms salad dressings. Mean Earnings Per Share (EPS) forecast is set at $0.5 by these analysts for This Quarter.

AT&T Inc. (NYSE:T) now has mean rating of 2.5 while 9 analyst have recommended the shares as "BUY", 6 commented as "OUTPERFORM" and 14 commented as "HOLD". Revenue slipped slightly to $7.96 billion.

Campbell ended the year with cash and cash equivalents of $296 million, long-term debt of $2,141 million, and total shareholders' equity of $1,533 million.

"I am not pleased with the results of our fourth quarter", said Campbell's chief executive Denise Morrison.

The Camden, New Jersey-based company said it had a loss of 26 cents per share. Stockholders of record on Monday, July 11th were given a $0.312 dividend.

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