REUTERS — Campbell Soup Co. recently forecast annual profit below Wall Street expectations due to persistently high raw material costs and investments into promotions.
The company forecast adjusted earnings between US$3.12 and $3.22 per share in fiscal 2025, while analysts on average were expecting annual profit of $3.23 per share.
In the fourth quarter that ended July 28, its adjusted gross profit margin increased 80 basis points to 31.4 per cent.
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Excluding items, Campbell Soup posted earnings per share of 63 cents, compared with estimates of 62 cents.
Net sales of $2.29 billion missed estimates for an 11.7 per cent rise to $2.31 billion.
Still, the company expects net sales to rise between nine and 11 per cent in fiscal 2025.
