CAMDEN (dpa-AFX) - (Adds Outlook)

Campbell Soup Co. (CPB) announced earnings for first quarter that decreased from
the same period last year but beat the Street estimates.

The company's bottom line came in at $234 million, or $0.78 per share. This
compares with $297 million, or $0.99 per share, in last year's first quarter.

Excluding items, Campbell Soup Co. reported adjusted earnings of $272 million or
$0.91 per share for the period.

Analysts on average had expected the company to earn $0.88 per share, according
to figures compiled by Thomson Reuters. Analysts' estimates typically exclude
special items.

The company's revenue for the quarter fell 2.3% to $2.52 billion from $2.58
billion last year.

Outlook

For fiscal 2024, the company continues to project adjusted earnings per share in
a range of $3.09 to $3.15, an increase of 3 percent to 5 percent from prior
year.

Net sales are expected to be down 0.5 percent to up 1.5 percent from last year's
$9.36 billion. Organic net sales are still projected to be flat to an increase
of 2 percent.

The Street is looking for earnings of $3.07 per share on sales of $9.42 billion,
a growth of 0.7 percent from last year.

In pre-market activity on the NYSE, the shares were trading at $40.99, up 1.54
percent.



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