Campbell's Reports Strong Q3 Earnings

Campbell Soup Company (NYSE: CPB) reported Q3 earnings Monday pre-market.

Net earnings for the Q3 ended April 28, 2013, were $181 million, or $0.57 per share, compared with $177 million, or $0.55 per share, in the prior year. The company reported adjusted earnings of $195 million, up eight percent from the prior year’s quarter. Adjusted EPS increased by 11% to $0.62 versus analyst estimates of $0.56, beating by $0.06. Adjusted Q3 EPS were up 11% from the same quarter last year.

Revenue came in at $2.09B versus analyst estimates of $2.04B, up 15 percent from last year’s quarter.

Campbell’s raised FY2013 EPS guidance from $2.51-2.57 to $2.58-2.62 versus $2.57 analyst estimate.

Shares of Campbell traded down $0.37, or 0.78 percent since market open Monday.