Campbell Soup Co. said its normalized net income for the fiscal second quarter ended Feb. 1 was 57 cents per share, compared with the S&P Capital IQ consensus estimate of 65 cents per share.
EPS fell 18.9% year over year from 70 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $179.4 million, a decline of 19.4% from $222.6 million in the second quarter ended Jan. 26, 2014.
The normalized profit margin declined to 8.7% from 9.8% in the year-earlier period.
Total revenue fell year over year to $2.23 billion from $2.28 billion, and total operating expenses climbed year over year to $1.96 billion from $1.93 billion.
Reported net income fell 11.4% from the prior-year period to $207.2 million, or 66 cents per share, from $233.8 million, or 74 cents per share.
