Campbell Soup Company’s Upcoming Q4 Earnings Preview

RBC Capital analysts provided their outlook on Campbell Soup Company (NYSE:CPB) ahead of the company’s Q4 earnings announcement tomorrow.

The analysts expect solid quarterly results with potential upside to organic topline growth relative to their and Street’s estimates of 4.5% and 6.6%, respectively. The analysts also expect the company to continue to recover from the undershipment in H1/22.

The analysts think the market focus will be more on the initial full 2023-year guidance, rather than the quarterly results. Given the uncertain consumer environment and hedging impacts on margins, the analysts expect the company to provide conservative initial 2023 guidance, consistent with other companies that provided initial guidance for the next fiscal year (e.g., The Procter & Gamble Company, The Clorox Company, The Estée Lauder Companies).