FMP
Campbell Soup Shares Plunge 9% Following Q3 Earnings
Jun 8, 2023 1:15 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 6:49 PM)
Image credit: FMP
Campbell Soup (NYSE:CPB) reported its Q3 earnings results, with EPS of $0.68 coming in better than the Street estimate of $0.65. Revenue was $2.23 billion, compared to the Street estimate of $2.24 billion.
The company reaffirmed its full 2023-year guidance, expecting EPS in the range of $2.95-$3.00, compared to the Street estimate of $3.02.
Shares fell nearly 9% yesterday. The stock was met with a cold reception from investors, as most packaged food names have been beating and raising guidance over the last few weeks.
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