Campbell Soup Co. posted strong fiscal 2Q results (ended Jan. 31) as at-home food consumption amid the pandemic continued to drive demand. Shares of the company increased 2% to close at $47.88 on March 10. Campbell’s (CPB) 2Q adjusted earnings of $0.84 per share surged 17% on a year-over-year basis and met Street estimates. Net sales jumped 5% to $2.28 billion, missing analysts’ expectations of $2.3 billion. The quarterly results were supported by a 4% rise in volume and mix, reflecting heightened demand, the company said. Adjusted gross margin decreased 10 basis points year-over-year to 34.3%.
https://www.tipranks.com/news/campbell-soups-quarterly-profit-pops-17-as-home-dining-demand-surges