It has been about a month since the last earnings report for Campbell Soup (CPB). Shares have added about 0.6% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Campbell due for a pullback? Before we dive into how investors and analysts have reacted as of late, let’s take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Campbell Soup Q4 Earnings Beat Estimates, Sales Up Y/Y
Campbell came out with robust fourth-quarter fiscal 2020 results, with earnings and revenues increasing double digits and cruising ahead of the Zacks Consensus Estimate. Results gained from rise in demand across the company’s brands, stemming from increased at-home consumption amid coronavirus.
Moreover, management provided a favorable view for first-quarter fiscal 2021, assuming that demand trends will remain favorable.