Campbell's Earnings: Sales Edge Higher, Even as Profits Languish; Shares Remain in the Bargain Bin

Campbell's reported a 1% uptick in organic sales in its fiscal third quarter. However, the adjusted operating margin slipped 30 basis points to 14.6%. Its snack mix (40% of sales) continues to suffer, with organic sales off 5% and the segment adjusted operating margin down 90 basis points to 14.3%.