NEW YORK (TheStreet) -- Campbell Soup(CPB) - Get Report released its latest quarterly earnings results Thursday morning. For those who might not have time to read the whole report, here are the three key takeaways.
Firstly, the company's revenue for the period fell 8.6% compared to a year ago. The top line was hurt by a strong dollar and weak sales in its U.S. simple meals business. The maker of canned soups, Pepperidge Farm cookies and V8 juice also noted that this quarter was one week shorter than it was in previous years.
The second key takeaway is that the Camden, N.J.-based company is still in the middle of its restructuring efforts. TheStreet's Jim Cramer, portfolio manager of the Action Alerts PLUS Charitable Trust Portfolio, says he's seeing the beginning of the turn for more fresh food options, and likes the company's natural and organic initiatives. The company recently acquired Bolthouse Farms juices, Plum Organics baby food and salsa, and hummus and dip maker Garden Fresh Gourmet, expanding its portfolio of health-oriented brands. Additionally, the company is planning to take high-fructose corn syrup out of all of its Pepperidge Farm breads and stop using artificial colors and flavors in most of its products within the next three years.
Lastly, four out of Campbell's five reporting segments had strong organic sales overall, with global baking and snacking showing the most strength. The company said its numbers showed progress in stabilizing business in Australia.
Shares of Campbell Soup are moving slightly higher in the green on Thursday following the release of its earnings results before the opening bell. For the fourth quarter, the company earned $0.43 per share, edging out the consensus estimate of $0.42 per share. Revenue of $1.69 billion for the period was in line with analysts' expectations.