Campbell Soup boosts outlook as strength in snack brands helps company beat estimates

Last year, it acquired snacks maker Snyder’s Lance for $4.87 billion, adding brands such as Cape Cod and Lance to its portfolio.As a result, sales in global biscuits and snacks category climbed 37 per cent to $1.15 billion in the third quarter.

“Our results this quarter were ahead of our expectations,” said chief Executive officer Mark Clouse in a statement. The company now expects full-year adjusted profit between $2.50 and $2.55 per share, compared with prior forecast of $2.45 and $2.53, factoring in the impact of its fresh business divestitures.

Net earnings attributable to the company was $84 million, or 28 cents per share, in the third quarter ended April 28, compared with a loss of $393 million, or $1.31 per share, a year earlier when the company recorded an impairment charge related to its fresh segment. Excluding items, the company earned 56 cents per share, beating the average analyst estimate by 9 cents, according to IBES data from Refinitiv.Shares of the company rose 3.3 per cent to $39.38 before the bell, having gained about 16 per cent this year.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Meet the companies that help pay for staff vacations | CBC NewsCompanies are signing up with new benefit platform Vacation Fund, where employee savings for holidays are matched — at varying levels — by employers. Its the latest strategy among several recent initiatives geared at making sure staff use their holiday time. News I’ll work for a company that helps fund a vacation to that river! News it seems like it would be good for retention & getting people to both actually use their vacation time, and to use it for actual enriching travel & not just staycations hope it catches on News I work in a remote location. It might entice people to work here if given the opportunity to go back home to see family or go on holiday. Retention is a big problem as well as getting people to consider working 5 hours away from the nearest city centre.
Source: CBC - 🏆 32. / 63 Read more »

Modest home sales boost in Greater Vancouver in May, but market still sluggishHome sales in Metro Vancouver showed some bounce in May, but the Greater Vancouver Real Estate Board says sales remain below historical averages.
Source: CTVNews - 🏆 1. / 99 Read more »