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Campbell Soup profit falls 7 pct; revenue rises

Published on NewsOK Modified: February 15, 2013 at 9:51 am •  Published: February 15, 2013
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The acquisition of Bolthouse Farms added $195 million in sales.

Campbell's backed its previous forecast for the full fiscal year ending in July, which is in line with analysts' current predictions.

For the quarter ended Jan. 27, Campbell Soup's earnings came to $190 million, or 60 cents per share, down from $205 million, or 64 cents per share, in the same quarter last year. Excluding costs of shutting down the Mexico plant and laying off its 260 workers, as well as ongoing restructuring in the U.S., profit came to 70 cents per share.

Revenue rose 10 percent to $2.33 billion, with a big boost coming from its August acquisition of premium juice maker Bolthouse Farms.

Analysts on average predicted a profit of 66 cents per share on $2.32 billion in revenue, according to FactSet.

Shares of Campbell rose 53 cents to $39.25 in morning trading.