Campbell Soup Co posted lower quarterly profit today, hurt by higher costs and lower US soup sales.
The largest US soup maker said net earnings were $270 million, or 70 cents a share, in the fiscal first quarter ended Oct. 28, compared with $291 million, or 72 cents a share, a year earlier.
The company said US soup sales were hurt by an exceptionally warm autumn.
Gross margins were hurt as price increases were not enough to offset higher ingredient costs, it added.
