Campbell Soup (CPB) PT Raised to $47 at Wells Fargo

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Go back to Campbell Soup (CPB) PT Raised to $47 at Wells Fargo

Campbell Reports Third-Quarter Fiscal 2024 Results

June 5, 2024 7:15 AM EDT

Completed the acquisition of Sovos Brands, Inc. (Sovos Brands) on March 12, 2024. Net Sales were $2.4 billion, increasing 6%, and were comparable to prior year on an organic basis. On a two-year-compound annual growth rate (CAGR), net sales increased 5% and organic net sales increased 2%. Earnings Before Interest and Taxes (EBIT) were $248 million; Adjusted EBIT was $354 million, an increase of 13% including the impact of the acquisition. Earnings Per Share (EPS) were $0.44; Adjusted EPS were $0.75, increasing 10%. Updates full-year fiscal 2024 guidance to include Sovos Brands.

CAMDEN, N.J.--(BUSINESS WIRE)-- Campbell Soup Company (NYSE:... More