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Campbell Soup Co. fiscal Q3 profit climbs 20.4% YOY

Campbell Soup Co. said its normalized net income for the fiscal third quarter ended April 30 came to 57 cents per share, compared with the S&P Capital IQ consensus estimate of 64 cents per share.

EPS climbed 22.4% year over year from 46 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $173.1 million, an increase of 20.4% from $143.8 million in the third quarter ended May 1, 2016.

The normalized profit margin rose to 9.3% from 7.7% in the year-earlier period.

Total revenue totaled $1.85 billion, compared with $1.87 billion in the year-earlier period, and total operating expenses declined year over year to $1.55 billion from $1.59 billion.

Reported net income fell on an annual basis to $177.5 million, or 58 cents per share, from $183.5 million, or 59 cents per share.