Campbell Soup on Tuesday reported quarterly earnings and revenue that beat analysts’ expectations ahead of a key shareholder vote on its board next week.
Shares of the company rose more than 4 percent in premarket trading.
The soup company is locked in a proxy fight with activist firm Third Point, which wants to place five new directors on its board.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: 79 cents, adjusted, vs. 70 cents expected
- Revenue: $2.69 billion vs. $2.67 billion expected
Campbell reported fiscal first-quarter 2019 net income of $194 million, or 64 cents per share, down from $275 million, or 91 cents a share, a year ago.
Excluding items, Campbell earned 79 cents per share, beating the 70 cents per share expected by analysts surveyed by Refinitiv.
Net sales rose 25 percent to $2.69 billion, beating expectations of $2.67 billion.