CPB Q3 Earnings Report: Key Factors to Watch
Investors, get ready! Campbell Soup (NASDAQ:NYSE:CPB) is gearing up to release its earnings report bright and early tomorrow. Last quarter, Campbell Soup didn’t quite meet the mark set by analysts, falling short of revenue expectations by a slim 0.9%. Despite the 10.9% year-on-year revenue growth, the company didn’t quite hit the organic revenue targets either.
What’s the buzz around Campbell Soup as we head into earnings season? Analysts are forecasting a healthy 11.3% revenue increase for the company in the upcoming quarter, expecting it to hit $2.80 billion. This would be a notable improvement from the 2.2% dip observed in the same quarter last year. Adjusted earnings per share are estimated to come in at $0.87.
Analysts seem to have confidence in Campbell Soup’s performance, having maintained their predictions over the last month. However, it’s worth noting that Campbell Soup has fallen short of Wall Street’s revenue estimates three times in the past two years.
Taking a peek at the company’s peers in the shelf-stable food sector, we gather some insight from their recent Q3 results. BellRing Brands saw an impressive 17.6% revenue growth, surpassing analysts’ projections by 2%, while J. M. Smucker reported a solid 17.2% revenue increase that aligned with consensus estimates. Following these results, BellRing Brands’ stock remained steady, while J. M. Smucker saw a 3.8% uptick.
Investors in the shelf-stable food segment have been expressing positive sentiments, with average share prices rising by 7.3% over the last month. During this time, Campbell Soup’s stock price remained stable, and it’s now inching towards earnings with an average analyst price target of $51.81, slightly above the current share price of $46.25.
As we look forward to Campbell Soup’s earnings release, the stage is set for an eventful day in the world of finance. Keep your eye on the horizon for the latest updates!
