Campbell Soup Company CPB shares are trading lower by 7.6% at $45.40 Wednesday morning after the company reported worse-than-expected third-quarter EPS and sales results and cut FY21 EPS guidance below estimates.
Campbell Soup is a leading manufacturer and marketer of branded convenience food products, most notably soup. The firm's product assortment includes well-known brands like Campbell's, Pace, Prego, Swanson, V8 and Pepperidge Farm. Following the sale of its international snacking operations, the firm derives nearly all of its sales from its home turf.
Campbell has made a handful of acquisitions to reshape its product mix the past few years, including the tie-up with Snyder's-Lance which stands to enhance its exposure to the faster-growing on-trend snack food aisle, complementing its Pepperidge Farm lineup.
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