Campbell: second quarter in line with group expectations
(CercleFinance.com) - Campbell Soup said on Wednesday that its sales and earnings were in line with its expectations in the second quarter, with the group reinstating its full-year guidance.
Excluding extraordinary items, adjusted EBIT slipped 1% to 399 million dollars, driven by declines in the group's base business.
Sales increased 24% to 2.7 billion dollars in the three months ended in January, thanks to the recent acquisitions of snack maker Snyder's-Lance and organic non-dairy product maker Pacific Foods.
Organic growth was flat.
Following these second-quarter results, Campbell said that it still expects full-year net sales of 7.92 billion-8.05 billion dollars after divestitures, with adjusted EBIT of between 1.23 billion and 1.27 billion dollars.
Yesterday Campbell said that it has signed a definitive agreement for the sale of Garden Fresh Gourmet to Fountain of Health, a maker of hummus and dips. The terms of the deal were not disclosed.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Excluding extraordinary items, adjusted EBIT slipped 1% to 399 million dollars, driven by declines in the group's base business.
Sales increased 24% to 2.7 billion dollars in the three months ended in January, thanks to the recent acquisitions of snack maker Snyder's-Lance and organic non-dairy product maker Pacific Foods.
Organic growth was flat.
Following these second-quarter results, Campbell said that it still expects full-year net sales of 7.92 billion-8.05 billion dollars after divestitures, with adjusted EBIT of between 1.23 billion and 1.27 billion dollars.
Yesterday Campbell said that it has signed a definitive agreement for the sale of Garden Fresh Gourmet to Fountain of Health, a maker of hummus and dips. The terms of the deal were not disclosed.
Copyright (c) 2019 CercleFinance.com. All rights reserved.