Campbell’s reports Q2 adjusted EPS 74c, consensus 72c

Reports Q2 revenue $2.69B, consensus $2.73B. Mick Beekhuizen, Campbell’s (CPB) President and CEO, said “Second quarter earnings were in line with our expectations despite the dynamic operating environment. Given the softness in some of our snacking categories, the anticipated sequential top-line improvement did not materialize during the quarter, and we now have a more muted second half expectation. As a result, we are updating our full-year guidance. We remain confident in our ability to successfully navigate the current consumer landscape with our portfolio of advantaged leadership brands, talented team and track record of execution. We have a strong foundation to deliver long-term sustainable, profitable growth and shareholder returns.”