CAMDEN, N.J. (AP) — Campbell Soup's net income rose 27 percent in its fiscal fourth quarter on strong sales of soup and simple meals in the U.S. The performance beat analysts' expectations and the food maker gave fiscal 2013 adjusted earnings guidance in range of Wall Street's view.
Its stock rose 36 cents to $35.50 in premarket trading Tuesday.
The Camden, N.J. company earned $127 million, or 40 cents per share, for the period ended July 29. A year earlier it earned $100 million, or 31 cents per share.
Stripping out acquisition-related costs, earnings were 41 cents per share. Analysts expected 39 cents per share.
Revenue was basically flat at $1.61 billion. Analysts forecast revenue of $1.59 billion.
For fiscal 2013, Campbell Soup Co. foresees adjusted earnings of $2.51 to $2.57 per share. Wall Street expects $2.52 per share.