Campbell Soup (CPB) Tops Q1 EPS by 3c

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Go back to Campbell Soup (CPB) Tops Q1 EPS by 3c

Campbell Reports First-Quarter Fiscal 2024 Results

December 6, 2023 7:15 AM EST

Reaffirms Full-Year Fiscal 2024 Guidance

Net Sales were $2.5 billion, decreasing 2% or 1% on an organic basis. On a two-year-compound annual growth rate (CAGR), net sales increased approximately 6% and organic net sales increased approximately 7% due to favorable net price realization and brand strength. Earnings Before Interest and Taxes (EBIT) were $358 million; Adjusted EBIT was $407 million, down 9%. Earnings Per Share (EPS) were $0.78; Adjusted EPS was $0.91, down 11%. Reaffirms full-year fiscal 2024 guidance and continues to expect the acquisition of Sovos Brands, Inc. (Sovos Brands) to close in calendar year 2024.

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