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Campbell: first-quarter results in line with expectations

(CercleFinance.com) - Campbell Soup has started its new fiscal year with results pretty much in line with expectations, the US soup maker said on Wednesday.

While the company increased its market share for soup for the first time in 10 quarters, an early sign of progress, first-quarter sales actually slipped 1% to 2.18 billion dollars.

Excluding items impacting comparability, adjusted EBIT increased by 6% to 392 million dollars.

The company's fiscal 2020 outlook for organic net sales, adjusted EBIT and adjusted EPS from continuing operations remains unchanged.

The shares are currently up 1% on the New York Stock Exchange.

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