Campbell Soup Q4 Net Income Decreases - Quick Facts

(RTTNews) - Campbell Soup Company (CPB) reported fourth-quarter net earnings attributable to Company of $68 million or $0.22 per share compared to $137 million or $0.43 per share, last year. Adjusted EPS from continuing operations was $0.43, for the quarter.

On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.42 for the quarter. Analysts' estimates typically exclude special items. Sales decreased 9 percent to $1.69 billion primarily due to the impact of one less week compared to the year-ago quarter and the negative impact of currency translation. Organic sales increased 1 percent from higher selling prices and lower promotional spending, partly offset by lower volume. Analysts expected revenue of $1.69 billion for the quarter.

In fiscal 2015, the company incurred restructuring charges and implementation costs associated with the new organizational structure and cost reduction initiatives. The company noted that the aggregate after-tax impact on EPS from these initiatives in the fourth-quarter was $0.21 per share and $0.25 per share, respectively.

As a result of one less week in fiscal 2015 compared to the prior year, sales for the fourth quarter were negatively impacted by approximately 7 points. The estimated impact on EPS was $0.08 per share.

For fiscal 2016, Campbell Soup expects sales to grow by 0 to 1 percent, adjusted EBIT to grow by 3 to 5 percent and adjusted EPS to grow by 3 to 5 percent, or $2.53 to $2.58 per share. Analysts expect the company to report earnings per share of $2.53.

Denise Morrison, Campbell's President and CEO, said, "Looking ahead to fiscal 2016, we believe that our focus on driving growth, aggressively reducing costs and reinvesting a portion of the savings in the areas of our business with the greatest growth potential is the best way to create shareholder value."