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Sept. 1, 2021, 7:42 a.m. EDT

Campbell Soup earnings beat, share buyback program revised

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By Tonya Garcia

Campbell Soup Co. /zigman2/quotes/202107764/composite CPB +1.79% reported fiscal fourth-quarter net income of $288 million, or 95 cents per share, up from $86 million, or 28 cents per share, last year. Adjusted EPS of 55 cents beat the FactSet consensus for 47 cents. Sales of $1.873 billion were down from $2.108 billion last year but also ahead of the FactSet consensus for $1.809 billion. Campbell approved a $500 million share repurchase program, which replaces a canceled $1.5 billion program. This new program is in addition to the $250 million repurchase program announced during the last quarter. For full-year fiscal 2022, Campbell is guiding for flat sales to a 2% decline and an adjusted EPS of $2.75 to $2.85. The FactSet consensus is for sales of $8.338 billion, implying a 1.6% decline, and EPS of $2.83. Campbell Soup shares edged up 0.7% in Wednesday premarket trading and have fallen 13.7% for the year to date. The S&P 500 index /zigman2/quotes/210599714/realtime SPX +1.28% has gained 20.4% for the period.

/zigman2/quotes/202107764/composite
US : U.S.: NYSE
$ 40.63
+0.72 +1.79%
Volume: 721,147
Dec. 2, 2021 12:02p
P/E Ratio
12.32
Dividend Yield
3.65%
Market Cap
$12.06 billion
Rev. per Employee
$601,135
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/zigman2/quotes/210599714/realtime
US : S&P US
4,570.84
+57.80 +1.28%
Volume: 1.14B
Dec. 2, 2021 12:02p
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