Campbell Soup beats by $0.07, beats on revs; reaffirms FY19 EPS guidance, revs guidance (32.89)
- Reports Q2 (Jan) earnings of $0.77 per share, excluding non-recurring items, $0.07 better than the S&P Capital IQ Consensus of $0.70; revenues rose 24.4% year/year to $2.71 bln vs the $2.66 bln S&P Capital IQ Consensus.
- Co reaffirms guidance for FY19, sees EPS of $2.45-2.53, excluding non-recurring items, vs. $2.45 S&P Capital IQ Consensus; sees FY19 revs of $9.975-10.100 bln vs. $9.86 bln S&P Capital IQ Consensus.
- Note: As previously announced, given the strategy to pursue divestitures, the co provides annual guidance pre-divestitures (above guidance) and pro forma guidance, assuming divestitures. The latter guidance was also reaffirmed at sales of $7.925-8.050 bln and adjusted EPS of $2.40-2.50. It's not entirely clear which guidance is comparable to consensus as perhaps some analysts may be using pro forma modeling. But CPB reaffirms today both sets of numbers