Campbell Soup Profit Lower Than Forecast

Campbell Soup Co. said profit fell 51% to $59 million, or 14 cents a share, in its fiscal fourth quarter and warned that first-quarter earnings would come in well short of forecasts. The world’s largest soup maker, which also makes Pepperidge Farm cookies, V8 vegetable drinks and Godiva chocolate, said sales fell 8% to $1.2 billion. The latest earnings were in line with forecasts. For the first quarter, the company warned that earnings would come in 6 cents to 8 cents a share below analysts’ estimates, which averaged 53 cents. Shares in the Camden, N.J.-based company closed up 25 cents at $25.13 on the NYSE.

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