Campbell: third-quarter results ahead of expectations

(CercleFinance.com) - Campbell said its third-quarter results have exceeded its expectations, making it the third consecutive quarter that the US soupmaker has met or exceeded its outlook.


Sales increased 16% to 2.2 billion dollars, thanks to the acquisition of salty snack maker Snyder's-Lance, the group said. However, in organic terms, sales were pretty much unchanged from last year.

Sales in the global baked goods and snacks business - which includes brands such as Pepperidge Farm - grew 1% in organic terms.

Bottom-line, adjusted EBIT fell from 321 million dollars to 316 dollars over the quarter, although its gross margin increased from 32.7% to 33.2%, the company said.

Campbell slightly raised its FY adjusted EBIT forecast from 1.37 billion-1.41 billion dollars to 1.39 billion-1.41 billion dollars.

The shares were up 3.5% in pre-market trading on Wednesday after the report.

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