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Campbell Soup net earnings up in Q3 2013

RBR Staff Writer Published 21 May 2013

Food products manufacturer and marketer Campbell Soup has reported a 2% increase in its net earnings to $179m for the third quarter ended 28 April 2013.

The company's net sales increased 15% to $2.1bn for the period, compared to $1.9bn in 2012 while earnings before interest, taxes (EBIT) were $272m compared with $264 million in the prior-year quarter.

The increase in sales for the quarter was driven by: Acquisition of Bolthouse Farms, volume and mix, and price and sales allowances.

Gross margin was 36.7% compared with 38.8% a year ago.

For the first nine months, net earnings were $616m, compared with $647m in the same period a year-ago.

Sales were $6.763bn, an increase of 11% from the year-ago period while gross margin was 36% compared with 38.9% a year ago.

EBIT for the nine month period ended 28 April 2013 was $958m compared with $1bn in the prior year.

Campbell's products are sold in over 100 countries across the globe.