Campbell Soup Company (CPB - Free Report) , the manufacturer of branded convenience food products, reported second-quarter fiscal 2017 adjusted earnings of 91 cents a share that came ahead of the Zacks Consensus Estimate of 88 cents and increased 5% year over year.

Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 and 2018 has witnessed a downtrend in the last 7 days.

Revenues: Campbell Soup generated total sales of $2,171 million, down 1% year over year, and also came below the Zacks Consensus Estimate of $2,217.5 million. Organic sales fell 2% due to lower volume and increased promotional spending.

Guidance: Campbell Soup maintained its outlook for fiscal 2017. It expects sales to be flat to up 1%. Adjusted EBIT is expected to increase 1–4% and adjusted earnings per share are anticipated in the range of $3.00–$3.09 per share, reflecting an increase of 2–5% year over year.

Campbell Soup Company Price, Consensus and EPS Surprise

(Click on image to enlarge)

Campbell Soup Company Price, Consensus and EPS Surprise | Campbell Soup Company Quote

Zacks Rank: Currently, Campbell Soup carries a Zacks Rank #2 (Buy), which is subject to change following the earnings announcement. 

Stock Movement: Campbell Soup’s shares are down about 0.8% during pre-market trading hours.