UPDATE: Campbell Soup Posts Upbeat Adjusted Profit
Campbell Soup Co (NYSE: CPB) swung to a loss in its fiscal fourth quarter.
Campbell Soup posted a quarterly loss of $158 million, or $0.50 per share, versus a year-earlier profit of $127 million, or $0.40 per share. Its adjusted earnings climbed to $142 million, of $0.45 per share, versus $130 million, or $0.41 per share.
Its net sales surged to $1.72 billion from $1.52 billion, while adjusted sales gained 13% to $1.82 billion. However, analysts were projecting earnings of $0.42 per share on sales of $1.84 billion.
Campbell Soup shares closed at $44.71 yesterday.
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