CAMPBELL Soup's first-quarter net income tumbled 30 per cent on declining US soup sales and rising costs.
The New Jersey company fell well short of Wall Street expectations and it cut its forecast for the year because of the slow start.
Shares fell seven per cent before the opening bell on Tuesday.
Campbell Soup Co earned $US172 million ($A184 million), or 54 cents per share. That's down from $US245 million, or 78 cents per share, a year earlier.
Excluding restructuring charges and other items, adjusted earnings from continuing operations were 66 cents per share.
Analysts polled by FactSet predicted earnings of 86 cents per share.
Revenue dipped two per cent to $US2.17 billion from $US2.21 billion. Wall Street was looking for $US2.29 billion in revenue.
US soup sales declined six per cent as retailers adjusted their inventory.
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