Campbell Soup Shares Pop 8% on Strong Q2
Shares of Campbell Soup (NYSE: CPB), a producer of snacks, soups, simple meals, and beverages, are up over 8% Wednesday morning after the company topped earnings estimates during the second quarter.
Campbell Soup's second-quarter net sales checked in at $2.16 billion, roughly flat compared to the prior year but better than analysts' estimates calling for $2.15 billion. Organic net sales managed a 1% gain. Adjusted earnings per share increased 11% to $0.72, compared to the prior year, topping analysts' estimates calling for $0.66 per share. "Given the momentum of the business and lower adjusted interest expense from our debt reduction, we are able to make important incremental investments in the business in the second half while increasing adjusted EPS guidance for the year," said Campbell's President and CEO Mark Clouse in a press release.
Image source: Getty Images.
Source Fool.com
