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22 June, 2017 21:55 IST
Campbell Soup Co third-quarter earnings decline by 4.86 percent on a YOY basis
Source: IRIS | 19 May, 2017, 06.33PM

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Campbell Soup Company (CPB) has reported 4.86 percent fall in profit for the quarter ended Apr. 30, 2017. The company has earned $176 million, or $0.58 a share in the quarter, compared with $185 million, or $0.59 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $180 million, or $0.59 a share compared with $203 million or $0.65 a share, a year ago.  

Revenue during the quarter went down marginally by 0.91 percent to $1,853 million from $1,870 million in the previous year period. Gross margin for the quarter expanded 130 basis points over the previous year period to 36.59 percent. Total expenses were 83.92 percent of quarterly revenues, down from 85.67 percent for the same period last year. This has led to an improvement of 175 basis points in operating margin to 16.08 percent.

Operating income for the quarter was $298 million, compared with $268 million in the previous year period.

However, the adjusted operating income for the quarter stood at $305 million compared to $312 million in the prior year period. At the same time, adjusted operating margin contracted 22 basis points in the quarter to 16.46 percent from 16.68 percent in the last year period.

Denise Morrison, Campbell’s President and Chief Executive Officer, said, “While organic sales declined 1 percent in the quarter, the team performed well in a difficult environment, gaining market share in many of our categories and continuing to execute our cost savings program.

For fiscal year 2017, the company expects adjusted diluted earnings per share to be in the range of $3.04 to $3.08 .

 Operating cash flow declines
Campbell Soup Company has generated cash of $1,011 million from operating activities during the nine month period, down 16.52 percent or $200 million, when compared with the last year period.

The company has spent $209 million cash to meet investing activities during the nine month period as against cash outgo of $234 million in the last year period.

The company has spent $780 million cash to carry out financing activities during the nine month period as against cash outgo of $856 million in the last year period.

Cash and cash equivalents stood at $313 million as on Apr. 30, 2017, down 18.28 percent or $70 million from $383 million on May 01, 2016.

 

Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net



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