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News Breaks | | | | November 20, 2012 | | 07:34 EDT |  | CPB | Campbell Soup says to incur pre-tax costs of $115M from restructuring
On Sept. 27, Campbell announced a program to improve its U.S. supply chain cost structure and increase asset utilization across its U.S. thermal plant network. This initiative includes plans to close the company’s South Plainfield spice plant by March 2013 and its Sacramento plant by July 2013. In the aggregate, the company expects to incur pre-tax costs of approximately $115M, most of which will be incurred in FY13. In Q1, Campbell recorded pre-tax costs of $43M, $27M after tax or 9c per share, related to these initiatives. | |
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News For CPB From The Last 14 Days Check below for free stories on CPB the last two weeks. |
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| May 23, 2013 | | 16:52 EDT | | CPB | PE firm Catterton Partners to sell Plum Organics to Campbell Soup
Catterton Partners, the leading consumer-focused private equity firm, announced that it has entered into an agreement to sell Plum Organics, a leading premium, organic kids nutrition company, to Campbell Soup (CPB). Terms of the transaction were not disclosed. The transaction remains subject to applicable regulatory approval and satisfaction of other customary closing conditions. | | | 16:48 EDT | | CPB | Campbell Soup to acquire Plum Organics, terms not disclosed
 Subscribe for More Information | | | May 21, 2013 | | 07:45 EDT |  | CPB | Morgan Stanley remains cautious on Campbell Soup
Subscribe for More Information | | | May 20, 2013 | | 09:48 EDT |  | CPB | Campbell Soup reverses down from pre-market highs, levels to watch
Subscribe for More Information | | | 08:42 EDT | | CPB | Campbell Soup rises after earnings, approaching $50
Subscribe for More Information | | | 07:34 EDT |  | CPB | Campbell Soup raises FY13 adjusted EPS view to $2.58-$2.62, consensus $2.56
The company revised its previous FY13 guidance and now expects to grow sales at the upper end of the 10%-12% range and adjusted EBIT at the upper end of the 4%-6% range. Adjusted EPS, benefitting from a favorable tax rate and the EBIT improvement, is now expected to exceed the previous range of 3%-5%. The company now expects adjusted EPS to grow between 6%-7%, putting adjusted EPS in the range of $2.58-$2.62. Guidance includes the estimated impact of the Bolthouse Farms business and excludes the impact of acquisition transaction costs and restructuring charges. In FY13, Campbell expects Bolthouse Farms to contribute approximately $750M to sales and add approximately 6c to adjusted EPS, including the impact of the suspension of Campbell’s strategic share repurchase program. | | | 07:32 EDT | | CPB | Campbell Soup reports Q3 adjusted EPS 62c, consensus 56c
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