Campbell Soup Cooked Up Tasty Q4 Earnings, but Will the Flavor Last?
After riding high for some time last year as people stockpiled food during the COVID-19 pandemic and related lockdowns, Campbell Soup (NYSE: CPB) started September with a surprisingly spicy fiscal 2021 fourth-quarter earnings report. The quarter, which ended Aug. 1, saw revenue and earnings per share grow beyond analysts' consensus predictions. However, performance slowed from fiscal 2020 levels, a possible warning sign that Campbell won't be keeping up its robust gains much longer.
Campbell Soup reported its fiscal fourth-quarter and full-year results on Sept. 1, and the numbers indicate the decline from pandemic-driven highs continues. Though Campbell beat analysts' estimates on both the top and bottom lines, they fell on a year-over-year basis. Fourth-quarter revenue was down 11%, and non-GAAP (or adjusted) earnings per share fell about 6% when backing out the extra week in the prior year.
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Source Fool.com
