Campbell Soup Co. has lifted its full-year forecast for earnings after seeing higher sales boost profits in its third quarter.
In the three months to 28 April, the US food group reported earnings of US$181m. This was a 2.3% increase on the prior-year period. Excluding restructuring-related charges, adjusted net earnings increased 8% to $195m.
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EBIT in the period amounted to $272m, a 3% increase on last year.
Sales jumped 15% to $2.09bn, boosted largely by last year’s acquisition of US chilled food firm Bolthouse Farms, which contributed 11 points of the growth.
The company raised its full-year earnings estimate to a range of $2.58 to $2.62 per share, up from a previous outlook of $2.51 to $2.57. It said sales growth should be at the upper end of its range of 10% to 12%.
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