Morningstar

The Campbell's Co

CPB: XNAS (USA)
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Campbell's Earnings: Weak Snack Results Pressure Margins; Shares Still Undervalued

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Campbell's shares sank 6% after a 3% plunge in fiscal second-quarter organic sales on weak volumes. Due to inflation, adjusted operating margin slipped 290 basis points to 11%. Full-year guidance was cut to a 1%-2% decline in sales (up to down 1% prior) and $2.15-$2.25 in adjusted EPS ($2.40-$2.55).

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