While adjusted earnings beat analysts' expectations, Campbell's revenue missed
The food company cut its fiscal 2014 revenue forecast, citing its year-to-date performance, and revised its adjusted earnings outlook.
Its shares dropped more than 5 percent before the opening bell on Monday.
U.S. soup sales gains were comparable to the prior-year period's 14 percent rise, but President and CEO
Sales for the baking and snacking division — which includes
For the three months ended
Analysts expected earnings of
Total costs and expenses fell to
Revenue edged up 1 percent to
Sales for its U.S. Simple Meals unit increased 7 percent, while sales of U.S. sauces climbed 25 percent thanks mostly to the acquisition of Plum Organics.
Sales for international simple meals and beverages declined 17 percent, with weakness in
Analysts predict earnings of
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