What To Expect From Campbell Soup's (CPB) Q1 Earnings

Packaged food company Campbell Soup (NASDAQ:CPB) will be announcing earnings results tomorrow morning. Here's what to expect.

Campbell Soup met analysts' revenue expectations last quarter, reporting revenues of $2.46 billion, down 1.2% year on year. It was a mixed quarter for the company: Campbell Soup beat analysts' EPS expectations, though its sales volumes declined (albeit to a lesser extent than forecasted by Wall Street). With its lower volumes, the company's full-year 2024 revenue guidance fell short, but its full-year EPS guidance exceeded estimates.

Is Campbell Soup a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Campbell Soup's revenue to grow 5.4% year on year to $2.35 billion, in line with the 4.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.70 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Campbell Soup has missed Wall Street's revenue estimates twice over the last two years.

Looking at Campbell Soup's peers in the shelf-stable food segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Hershey delivered year-on-year revenue growth of 8.9%, beating analysts' expectations by 4.5%, and BellRing Brands reported revenues up 28.3%, topping estimates by 5.9%. Hershey's stock price was unchanged after the results, while BellRing Brands was up 2.1%.

Read our full analysis of Hershey's results here and BellRing Brands's results here.

Investors in the shelf-stable food segment have had steady hands going into earnings, with share prices flat over the last month. Campbell Soup is down 1.5% during the same time and is heading into earnings with an average analyst price target of $47 (compared to the current share price of $44.22).

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