Campbell Soup quarterly profit falls 5%
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Summary:
Shares of Campbell Soup Co. sank 7.7% in premarket trading Wednesday, after the soups, snacks and simple meals company reported fiscal third-quarter profit and sales that fell more than expected and cut its full-year outlook, as inflation and rising supply chain costs weighed on results. Net income for the quarter to May 2 declined to $160 million, or 52 cents a share, from $168 million, or 55 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share fell t
With a history that dates back around 150 years, Campbell Soup is now a leading manufacturer and marketer of branded convenience food products, most notably soup. The firm's product assortment includes well-known brands like Campbell's, Pace, Prego, Swanson, V8, and Pepperidge Farm. Following the ...
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