March 4, 2020 / 12:41 PM / a month ago

Campbell raises 2020 profit forecast, beats quarterly sales estimates

March 4 (Reuters) - U.S. food company Campbell Soup Co raised its forecast for annual earnings on Wednesday, after it beat Wall Street estimates for quarterly sales, powered by improved demand at its soup business.

The Prego pasta sauce and Goldfish crackers maker said net sales fell marginally to $2.16 billion in the second quarter ended Jan. 26, but beat analysts’ expectations of $2.15 billion, according to IBES data from Refinitiv.

The company also said it now expects fiscal 2020 adjusted earnings to be in the range of $2.55 per share to $2.60, up 5 cents from an earlier forecast. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Shinjini Ganguli)

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