Campbell Soup Reaffirms FY17 EPS Guidance

Campbell Soup Company said early Wednesday it continues to expect adjusted earnings per share will rise 3% to 5%, or $3.04 to $3.09, for FY17, which straddles the $3.05 per share average estimate of analysts polled by Capital IQ. The company also said it continues to expect FY17 sales to either fall 1% or remain flat.

Additionally, the company noted CEO Denise Morrison will outline on Wednesday steps Campbell is taking to “deliver sustainable, profitable topline growth in the rapidly-changing food industry by strengthening its core business while expanding into faster-growing spaces”. The plans include accelerating digital marketing and e-commerce efforts; continuing to diversify Campbell’s portfolio in health and well-being; and broadening how Campbell views the faster-growing snacking category.

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