Campbell Soup warns of weak Q2 profit due to carrot supply delays

By Gayathree Ganesan

Nov 21 (Reuters) – Campbell Soup Co, which missed Wall Street estimates for first-quarter profit and revenue, said harvest delays of its carrot crop in California and higher costs are likely to hurt its earnings in the current quarter.

Shares of the company were down 7 percent at $46.39 in late morning trading.

The company, which sells the Bolthouse Farms of fresh juices, said severe weather hurt crop production, leading the world’s largest soup maker to delay supply of carrot-based products to its customers.

Campbell, which expects delays to pick up in December, link maxwin said transport disruptions have led to a big rise in supply-chain costs.

“Given the seasonality of our business and the timing of these unforeseen cost issues, we expect to see significantly weaker performance in the second quarter, followed by improvements in the second half,” Campbell’s Finance Chief Anthony DiSilvestro said on the conference call.

The company also said delays in finalizing an agreement with a key customer over a promotional program would deepen its soup sales losses in the United States in the first half of the year.

J.P.Morgan analyst Ken Goldman said Campbell’s weak results underscore the lower demand that packaged-food companies have been facing.

“But we remind investors that the two major problems (a lost promotion at Wall-Mart, carrots) are CPB-specific,” Goldman said.

The company’s fresh food unit, which includes Bolthouse Farms and Garden Fresh Gourmet brands, has been witnessing sales declines since last year due to a premature harvest of carrots and recall of protein drinks.

In the first quarter, the Pepperidge Farm snacks maker said gross margins fell 2.4 percent, leading the company to cut its fiscal 2018 adjusted profit to $2.95 to $3.02 per share from previously stated $3.04 to $3.11.

This was below the analysts’ average estimate of $3.05 per share, according to Thomson Reuters I/B/E/S.

Excluding items, Campbell earned 92 cents per share on revenue of $2.16 billion in the first quarter ended Oct.29.

Analysts on average expected revenue of $2.17 billion and profit of 97 cents per share. (Reporting by Gayathree Ganesan in Bengaluru; Editing by Arun Koyyur)

Leave a Comment

Your email address will not be published. Required fields are marked *

Shopping Cart
Scroll to Top
http://nrc-recycle.org/
https://newcenturytimes.com/
https://wilsonokello.com/
https://desamodern.com/
https://bentecservices.com/
https://asadarico.com/
https://bodkin.us/
https://coburnforsenate.com/
https://daisyonbroadway.com/
https://directworks.org/
https://freespiritthemovie.net/
https://ghantootmarina.com/
https://thenationalforum.org/
https://usanext.org/
https://www.showbizgossips.com/
https://hiddentracks.org/
http://www.vegasjazz.org/
https://www.teshreen.com/
http://www.maysvillenyc.com/
https://teasearecords.net/
https://www.barnumstation.com/
https://www.ncs-glc.com/
https://hotelarjuna.com/
https://sites.google.com/view/braddockgrease/home
https://sites.google.com/view/enigmaths/home
https://sites.google.com/view/donaldgrasse/home
https://sites.google.com/view/microdosingpsychedelics/home
Slot Depo 10K
Slot Server Thailand
Slot Admin Jarwo
Bo Togel Togel
Daftar Slot Langsung Dapat Freechip Tanpa Deposit Awal
SLOT BCA
Situs Judi Slot Terbaik dan Terpercaya No 1
Daftar Slot Via Dana Minimal Deposit 5000
Slot Qris
https://smpn1kroya.com/
https://news.schmu.id/
https://mmr.mtsc.gov.bd/
https://mts-mqtebuireng.sch.id/
AKSARA4D
AMOYSLOT88
BIG777
BIGWIN138
BINTANG4DP
CAIR138
DELUNA4D
DINGDONGTOGEL
DOLAR138
GAS138
GENGTOTO
GRANDBET88
HDBET303
HOKIBET
INASLOT88
INISLOT88
JANDA4D
JAYATOGEL
JP789
JURAGAN69
KAPUAS88
KINGDOMTOTO
KPKTOTO
NAGA138
PANEN138
PANENTOGEL
RAJA88
RAJAINDO
RAJAZEUS
ROYALTOTO
SHIO88
SIKAT88
SKY77
STARS77
SULTANTOTO
TAWABET
TOGELCC
TOGELUP
TOTOBET
TOTOJITU
TOTOPEDIA
TRISULA88
TUYULSLOT
UDINTOGEL
WINSPORT77
ZEUS138
daftar slot via dana
link slot 5000
slot 4d
slot 10k
slot deposit qris
daftar situs judi bola resmi dan terpercaya
sbobet casino
sbobet88
slot88
ion casino
slot deposit pulsa indosat
slot deposit qris
slot thailand
kakek merah slot
slot depo 50 bonus 50 to kecil
situs judi slot jackpot terbesar
AKSARA4D
AMOYSLOT88
BIG777
BIGWIN138
BINTANG4DP
CAIR138
DELUNA4D
DINGDONGTOGEL
DOLAR138
GAS138
GENGTOTO
GRANDBET88
HDBET303
HOKIBET
INASLOT88
INISLOT88
JANDA4D
JAYATOGEL
JP789
JURAGAN69
KAPUAS88
KINGDOMTOTO
KPKTOTO
NAGA138
PANEN138
PANENTOGEL
RAJA88
RAJAINDO
RAJAZEUS
ROYALTOTO
SHIO88
SIKAT88
SKY77
STARS77
SULTANTOTO
TAWABET
TOGELCC
TOGELUP
TOTOBET
TOTOJITU
TOTOPEDIA
TRISULA88
TUYULSLOT
UDINTOGEL
WINSPORT77
ZEUS138
slot 4d
joker123 gaming
judi bola parlay
link alternatif gwc3388
nexus slot
sbobet88
situs judi bola online resmi dan terpercaya
situs judi slot promo terbaru
slot deposit 15 bonus 25
slot deposit dana
sv388
slot server thailand
maxbet
ibcbet
https://dask.kebijakankesehatanindonesia.net/