Campbell Soup Co. (CPB) reported earnings on Wed 7 Dec 22 (b/o)

** charts after earnings ** 

  

Campbell Soup beats by $0.15, beats on revs; raises FY23 guidance 

• Reports Q1 (Oct) earnings of $1.02 per share, excluding non-recurring items, $0.15 better than the S&P Capital IQ Consensus of $0.87; revenues rose 15.2% year/year to $2.58 bln vs the $2.44 bln S&P Capital IQ Consensus.
• As reported EBIT increased to $436 million from $376 million in the prior year. Excluding items impacting comparability, adjusted EBIT increased 15% compared to the prior year to $449 million primarily due to higher adjusted gross profit, partially offset by higher marketing and selling expenses and higher adjusted other expenses.
• Co issues raised guidance for FY23, sees EPS of $2.90-3.00 from $2.85-2.95, excluding non-recurring items, vs. $2.91 S&P Capital IQ Consensus; sees FY23 revs of +7-9% yr/yr from +4-6% yr/yr to $9.19-9.33 bln vs. $9 bln S&P Capital IQ Consensus.