Campbell Soup Q2 Profit Down, Cuts FY25 View Below Market; Stock Drops In Pre-market - Update

Campbell Soup

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(RTTNews) - Campbell Soup Co. (CPB), while reporting weak second-quarter profit, but above market estimates, on Wednesday lowered its fiscal 2025 forecast below the Street.

In pre-market activity on the Nasdaq, the shares were losing around 5.5 percent to trade at $38.12.

For fiscal 2025, the company now projects adjusted earnings per share of $2.95 to $3.05, or approximately down 4 percent to down 1 percent from prior year's $3.08.

Net sales growth is projected to be around 6 percent to 8 percent, while organic net sales expected to be in the range of down 2 percent to flat.

The Wall Street analysts on average expect the company to report earnings of $3.12 per share on sales growth of 8.02 percent. Analysts' estimates typically exclude special items.

The company previously expected adjusted earnings per share of $3.12 to $3.22, or around 1 percent to 4 percent rise from last year. Net sales growth was projected to be around 9 percent to 11 percent and organic net sales to be flat to up 2 percent.

In its second quarter, Campbell Soup's bottom line totaled $173 million or $0.58 per share, compared with $203 million, or $0.68 per share last year.

Adjusted earnings were $222 million or $0.74 per share for the period, compared to $240 million or $0.80 per share last year. Analysts had expected the company to earn $0.72 per share.

The company's revenue for the period rose 9.3 percent to $2.685 billion from $2.456 billion last year. The Street was looking for revenues of $2.73 billion for the quarter.

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