Campbell Soup Co

GB2162845

Equity

ISIN null / Valor 915875

New York Stock Exchange, Inc (2024-08-16)

USD 49.10+0.33%

Campbell Soup Co
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About company

Campbell Soup Co, established in 1869, has evolved into a prominent entity in the food industry, distinguishing itself through a concentrated brand portfolio divided into two main divisions: Meals & Beverages and Snacks. The company's product range encompasses a variety of well-known and household brands, catering to a broad spectrum of consumer tastes and preferences. In the Meals & Beverages division, Campbell's offers an array of soups, simple meals, and beverages, while the Snacks division includes a variety of popular snack brands, reflecting the company's adaptability and responsiveness to changing consumer demands. Over the years, Campbell Soup Co has maintained a significant presence in the market, underpinned by a commitment to quality and innovation, which has solidified its status as a key player in the food industry.

Summarized from source with an LLMView SourceSector: Consumer Non-Cyclicals

Net Sales Growth

Campbell Soup Co reported net sales of $2.4 billion for the third quarter of fiscal 2024, marking a 6% increase compared to the same period in fiscal 2023. This growth was driven by the recent acquisition of Sovos Brands, Inc. On an organic basis, net sales remained comparable to the prior year.

Earnings Before Interest and Taxes (EBIT)

For the third quarter of fiscal 2024, Campbell Soup Co's EBIT was $248 million. Adjusted EBIT, which excludes certain items impacting comparability, increased by 13% to $354 million, reflecting the positive impact of the Sovos Brands acquisition.

Earnings Per Share (EPS)

Campbell Soup Co reported EPS of $0.44 for the third quarter of fiscal 2024. Adjusted EPS, which excludes items impacting comparability, increased by 10% to $0.75, primarily due to higher adjusted EBIT and a lower adjusted effective tax rate.

Gross Profit and Margins

Gross profit for Campbell Soup Co in the third quarter of fiscal 2024 increased to $732 million from $668 million in the prior year. The gross profit margin improved to 30.9% from 30.0%, driven by supply chain productivity improvements and cost savings initiatives, which offset higher cost inflation and other supply chain costs.

Full-Year Fiscal 2024 Guidance

Campbell Soup Co updated its full-year fiscal 2024 guidance to reflect the impact of the Sovos Brands acquisition. The company now expects reported net sales growth of 3% to 4% and adjusted EBIT growth of approximately 6.5% to 7%. Adjusted EPS for the full year is projected to grow by 2% to 3%, reaching $3.07 to $3.10.

Summarized from source with an LLMView Source

Key figures

14.4%1Y

13.0%3Y

15.2%5Y

Performance

19.7%1Y

21.6%3Y

22.5%5Y

Volatility