(News Bulletin 247) – Campbell rose slightly on the New York Stock Exchange on Wednesday after an upward revision of its growth forecast for the 2022/2023 financial year.

- Advertisement -

The American agri-food group now says it is aiming for an increase in its turnover of between 8.5% and 10% over the financial year which will end at the end of July, instead of the 7% to 9% previously announced.

The owner of the brands Campbell’s, Goldfish, Pepperidge Farm or even V8, specifies that its organic growth should also be between 8.5% and 10%.

- Advertisement -

Due to the continued robustness of its sales, the New Jersey-based group has also revised upwards the lower limit of its annual earnings per share (EPS) target, now expected between 2.95 and three dollars, and not more between 2.90 and three dollars.

In its second fiscal quarter, ending at the end of January, its turnover increased by 12%, including +13% in organic data, mainly due to the strength of its sales of snacks (cookies, crackers, pretzels and crisps).

Its adjusted operating profit (Ebit) increased by 14% to 362 million dollars.

Following these figures, the action Campbell rose by 0.4% Thursday morning in the first exchanges on Wall Street.

Copyright (c) 2023 News Bulletin 247. All rights reserved.