Campbell down after forecasting annual sales below estimates
CPB•Campbell shares fall after weak annual sales outlook
-
Shares of packaged food maker Campbell (CPB.O) were down about 9% at $21.60 in premarket trading.
-
The company forecast annual sales below estimates, hurt by weak demand for its pricier snacks and pantry condiments amid macroeconomic uncertainties.
-
It expects FY27 net sales to decline between 2% and 4%, versus estimates of a 0.8% fall, according to data compiled by LSEG.
-
Campbell sees annual adjusted EPS between $1.65 and $1.80, below estimates of $1.86.
-
The company reported an 8% fall in Q4 revenue to $2.14 billion, versus estimates of a 7.6% decline to $2.15 billion.
-
Quarterly adjusted EPS declined 37% to 39 cents.
