Campbell Soup Co. said its normalized net income for the fiscal first quarter ended Oct. 30 came to 88 cents per share, compared with the S&P Capital IQ consensus estimate of 95 cents per share.
EPS rose 36.5% year over year from 65 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $273.8 million, a gain of 35.6% from $201.9 million in the first quarter ended Nov. 1, 2015.
The normalized profit margin rose to 12.4% from 9.2% in the year-earlier period.
Total revenue came to $2.20 billion, compared with $2.20 billion in the prior-year period, and total operating expenses fell 6.3% year over year to $1.74 billion from $1.85 billion.
Reported net income increased 50.6% on an annual basis to $291.4 million, or 94 cents per share, from $193.4 million, or 62 cents per share.
