Campbell Soup: raises annual EPS target
(CercleFinance.com) - Alongside the publication of its quarterly reports, Campbell Soup announced that it has increased its adjusted EPS forecasts for FY 2019-20, having nudged up its target range to between 2.
55 dollars and 2.60 dollars, against 2.50 dollars to 2.55 dollars previously.
In Q2, the agri-food group posted an 11% increase by 11% its adjusted EPS to 72 cents, therefore exceeding the consensus by six cents, while its revenues were flat at 2.16 billion dollars (+1% in organic terms).
Mark Clouse, Campbell's President and CEO, stated, "Given the momentum of the business and lower adjusted interest expense from our debt reduction, we are able to make important incremental investments in the business in the second half".
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