Packaged food company Campbell's (NASDAQ:CPB) will be announcing earnings results next Tuesday before market open. Here’s what to expect.
Campbell's met analysts’ revenue expectations last quarter, reporting revenues of $2.32 billion, up 1.2% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ EBITDA estimates but full-year EPS guidance missing analysts’ expectations.
Is Campbell's a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Campbell’s revenue to decline 4.2% year on year to $2.66 billion, a reversal from the 10.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.73 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Campbell's has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Campbell’s peers in the shelf-stable food segment, some have already reported their Q3 results, giving us a hint as to what we can expect. J&J Snack Foods’s revenues decreased 3.9% year on year, meeting analysts’ expectations, and SunOpta reported revenues up 16.6%, topping estimates by 5.2%. J&J Snack Foods traded up 7.8% following the results while SunOpta was down 28.3%.
Read our full analysis of J&J Snack Foods’s results here and SunOpta’s results here.
Investors in the shelf-stable food segment have had steady hands going into earnings, with share prices up 1.3% on average over the last month. Campbell's is up 2% during the same time and is heading into earnings with an average analyst price target of $34.37 (compared to the current share price of $30.50).
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