Net sales were $1.85 billion, up from $1.72 billion last year. Analysts expected to see sales of $1.87 billion.
Inside Campbell’s Earnings Results
On a segment basis, sales for U.S. simple meals rose 5% to $518 million, while the Global Baking and Snacking segment rose 10% to $628 million and the International Simple Meals and Beverages segment increased 1% to $188 million.
The U.S. Beverage segment jumped 6% to $184 million and the Bolthouse and Foodservice segments increased 11% to $334 million.
The company’s U.S. Soup sales dropped 3%.
Campbell’s also reported that its gross margin narrowed to 34.3% from 36.7%. Marketing costs fell by 1%.
The stock remained flat during pre-market trading on Monday. YTD, the stock is up 2.91%.
Mutual Funds on Watch
|MXEQX||T. Rowe Price Equity Income Fund||1.89%|
|LCEAX||Invesco Diversified Dividend Fund||1.36%|
The Bottom Line
Earnings can have a major effect on a company’s stock price and is one of the most important aspects that investors should pay attention to.