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Campbell’s Stock Plummets to 23-Year Low Amid Earnings Miss and S&P 500 Uncertainty
Campbell’s Stock Plummets to 23-Year Low Amid Earnings Miss and S&P 500 Uncertainty
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BTCCSquare news:
Campbell Soup Company (CPB) faces a severe market backlash as its stock hits a 23-year low following disappointing Q2 earnings. Adjusted EPS of 51 cents fell short of the 57-cent analyst estimate, while net sales declined 4.5% year-over-year to $2.56 billion, missing the $2.61 billion forecast. Snack sales dropped 6.2% to $914 million, marking the first sub-$1 billion performance in four years.
The company slashed full-year adjusted EPS guidance to $2.15–$2.25, down from $2.40–$2.55. With a 40% decline over the past 12 months, Campbell’s risks removal from the S&P 500. The stock fell 5.4% in premarket trading, signaling eroding investor confidence in the iconic food brand.
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