campbell soup co (CPB) Snapshot

Campbell Soup Company announced unaudited consolidated financial results for the third quarter and nine months ended April 28, 2013. For the quarter, the company reported net sales of $2,094 million against $1,821 million a year ago. Net sales were up 15% or 4% excluding the impact of Bolthouse Farms, which the company acquired in the first quarter of the year. Earnings before interest and taxes were $272 million against $264 million a year ago. Earnings before taxes were $241 million against $237 million a year ago. Net earnings attributable to company were $181 million or $0.57 per diluted share against $177 million or $0.55 per diluted share a year ago. Adjusted earnings before interest and taxes were $293 million against $268 million a year ago. Adjusted EBIT was up 9% or 3% excluding the acquisition. Adjusted earnings before taxes were $262 million against $241 million a year ago. Adjusted net earnings attributable to company were $195 million or $0.62 per diluted share against $180 million or $0.56 per diluted share a year ago. Adjusted earnings before interest and taxes, less acquisition was $276 million against $268 million a year ago. For the nine months, the company reported net sales of $6,763 million against $6,094 million a year ago. Earnings before interest and taxes were $958 million against $1,009 million a year ago. Earnings before taxes were $863 million against $928 million a year ago. Net earnings attributable to company were $616 million or $1.94 per diluted share against $647 million or $2.01 per diluted share a year ago. Net debt as on April 28, 2013 was $3,800 million against $2,374 million a year ago. Adjusted earnings before interest and taxes were $1,080 million against $1,018 million a year ago. Adjusted earnings before taxes were $985 million against $937 million a year ago. Adjusted net earnings attributable to company were $694 million or $2.19 per diluted share against $653 million or $2.03 per diluted share a year ago. Adjusted earnings before interest and taxes, less acquisition was $1,034 million against $1,018 million a year ago. Cash flow from operations was $864 million compared with $838 million in the prior year. The company revised its previous fiscal 2013 guidance. The company now expects to grow sales at the upper end of the 10 to 12% range and adjusted EBIT at the upper end of the 4- to 6% range. Adjusted EPS, benefitting from a favorable tax rate and the EBIT improvement, is now expected to exceed the previous range of 3 to 5%. The company now expects adjusted EPS to grow between 6 and 7%, putting adjusted EPS in the range of $2.58 to $2.62. This guidance includes the estimated impact of the Bolthouse Farms business and excludes the impact of acquisition transaction costs and restructuring charges. In fiscal 2013, Campbell expects Bolthouse Farms to contribute approximately $750 million to sales and add approximately $0.06 to adjusted EPS, including the impact of the suspension of Campbell's strategic share repurchase program.

Campbell Soup Company Presents at Citi's 2013 Global Consumer Conference, May-30-2013 . Venue: Hilton New York, 1335 6th Ave, New York, NY 10019, United States.

Campbell Soup Company Presents at Bernstein's 29th Annual Strategic Decisions Conference, May-29-2013 . Venue: The Waldorf=Astoria Hotel, 301 Park Avenue (between 49th and 50th Street), New York, NY 10022, United States.