Campbell Soup Co. CPB, -0.68% reported fiscal second-quarter net income of $245.0 million, or 80 cents per share, down from $1.21 billion, or $3.97 per share, last year. Adjusted EPS of 84 cents was in line with the FactSet consensus. Sales of $2.279 billion were up from $2.162 billion last year and below the FactSet consensus for $2.302 billion. Foodservice and supply constraints, both impacted by COVID-19, “tempered” results, according to a statement from Mark Clouse, Campbell chief executive. For the full fiscal year, Campbell is guiding for a net sales decrease of 2.5% to 3.5% and adjusted EPS of $3.03 to $3.11. The FactSet consensus is for sales of $8.453 billion, suggesting a decline of 2.7%, and EPS of $3.03. Campbell Soup stock slipped 0.4% in Wednesday premarket trading and is down 8.5% for the last year. The benchmark S&P 500 index SPX, +1.42% is up 34.5% for the past 12 months.
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