What to Expect from Campbell Soup (CPB) Q2 Earnings?
Campbell Soup Co. (NYE:CPB) is expected to report an increase in both top and bottom lines in its Q2 fiscal 2023 earnings report on March 8th. The company’s revenues are estimated to rise by 10.4% from the prior-year fiscal quarter to $2.44 billion. However, the estimated quarterly earnings per share of 73 cents has dipped by a penny in the past seven days, but still indicates growth of 5.8% from the prior-year quarter. The food and beverage company has been benefiting from its growing Snacks business, with sales of power brands up 21% in the first quarter of fiscal 2023. Despite cost inflation, the company has been undertaking pricing actions and progressing well with its cost-saving plan. However, the Zacks model doesn’t conclusively predict an earnings beat for Campbell Soup this time.
Campbell Soup Company Stock Analysis
Campbell Soup Company is expected to have an average analyst target price of $51.92 over the next year, according to 11 analysts. The average analyst ratings for the company is “Hold”. Meanwhile, Stock Target Advisor’s analysis suggests a slightly bullish outlook, based on 9 positive signals and 5 negative signals. As of the last closing, the stock price for Campbell Soup Company was at $52.41, reflecting a -1.36% change over the past week, +3.01% over the past month, and a +15.06% increase over the past year.
Company Overview:
Campbell Soup Company is a food and beverage manufacturing and marketing company that operates in the United States and internationally. The company has two segments: Meals & Beverages and Snacks. The Meals & Beverages segment provides various soups, broths, sauces, and other products, while the Snacks segment offers cookies, crackers, pretzels, and other snack items. The company sells its products through various channels, including retail food chains, e-commerce, and independent contractor distributors. Campbell Soup Company was founded in 1869 and is headquartered in Camden, New Jersey.
