Campbell Soup (CPB) reported earnings on Fri 18 May 18 (b/o)

** charts before earnings **

 

** charts after earnings **

 

Campbell Soup beats by $0.10, reports revs in-line; adjusts FY18 guidance to reflect Snyder's-Lance acquisition 

• Reports Q3 (Apr) earnings of $0.70 per share, excluding non-recurring items, $0.10 better than the Capital IQ Consensus of $0.60; revenues rose 14.7% year/year to $2.13 bln vs the $2.13 bln Capital IQ Consensus.
• Organic sales were comparable to the prior year as gains in Global Biscuits and Snacks and Campbell Fresh were offset by declines in Americas Simple Meals and Beverages.
• Based on the company's current outlook for fiscal 2018, including the impact of the Snyder's-Lance acquisition, Campbell has revised its fiscal 2018 guidance. Co issues guidancefor FY18, sees EPS decline of 6-5% versus a decline of 3-1% prior to $2.85-2.90, excluding non-recurring items, vs. $3.12 Capital IQ Consensus Estimate; raises FY18 revs of +10-12% from +0.1% to ~$8.68-8.84 bln vs. $8.76 bln Capital IQ Consensus Estimate.

Campbell Soup CEO Denise M. Morrison to retire effective today 
Keith R. McLoughlin, a Campbell Board member since 2016, has been named interim CEO and will also remain a member of the Board to facilitate an orderly transition in management while recently elevated Chief Operating Officer Luca Mignini focuses on the integration of newly acquired Snyder's-Lance and Pacific Foods and stabilizing the company's U.S. soup business.