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Campbell Soup Q3 earnings $168 million

Christian Fernsby |
Campbell Soup revealed earnings for third quarter that declined from last year.

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Topics: CAMPBELL SOUP   

The company's bottom line totaled $160 million, or $0.52 per share. This compares with $168 million, or $0.55 per share, in last year's third quarter.

Excluding items, Campbell Soup Co. reported adjusted earnings of $168 million or $0.55 per share for the period.

The company's revenue for the quarter fell 11.6% to $1.98 billion from $2.24 billion last year.

While reporting financial results for the third quarter on Wednesday, Campbell Soup Co. (CPB) trimmed adjusted earnings and net sales guidance for the full-year 2021, to reflect third-quarter results and the impact of the sale of the Plum baby food and snacks business.

For fiscal 2021, the company now projects adjusted earnings in a range of $2.90 to $2.93 per share on net sales decline of 3.5 to 3.0 percent from last year's net sales of $8.69 billion, implying sales between $8.39 billion and $8.43 billion, with organic net sales decline of 1.2 to 0.7 percent.

Previously, the company expected adjusted earnings in the range of $3.03 to $3.11 per share on net sales decline of 3.5 to 2.5 percent from last year's net sales of $8.69 billion, implying sales between $8.39 billion and $8.47 billion, with organic net sales decline of 1.5 to 0.5 percent.


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