Originally published at www.seclive.com
Filing in Focus: Campbell Soup 8-K, February 14, 2014
Campbell Soup Company (CPB) announced its financial results for the second quarter of fiscal year 2014, reporting earnings that jumped 71%. The soup-maker's results were helped largely by a $90M gain from the sale of a European soup business, which propelled earnings to $325M, but still beat analyst adjusted earnings per share estimates of $0.71 with $0.76 per share. Revenue during the quarter grew 5.5% to $2.28B, with Pepperidge Farm cookies and Goldfish cracker sales gaining momentum with a 14% sales increase to $639M. CEO Denise Morrison remarked that the company anticipates the Goldfish cracker franchise, a part of the Pepperidge Farm brand, to finish the second half of the year even stronger and expects more valuable contributions from Plum Organics after a voluntary recall in November. The company projects its overall sales to grow this year between 4% and 5%.
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