Campbell Soup Q1 sales up 15% to $2.58B, adjusted EPS $1.02, raises FY2023 guidance

CAMPBELL'S Co

2023-Q1 EPS reported $0.99 revenue$2,575,000,000

Net sales $2.575B, +15% YoY; reported EPS $0.99 (+15%), adjusted EPS $1.02 (+15%).
Raised FY2023 guidance: organic net sales now +7-9% (prev +4-6%), adjusted EPS $2.90-$3.00 (prev $2.85-$2.95).
Meals & Beverages and Snacks segments each +15% sales; U.S. soup sales +11%.
Achieved $10M cost savings in Q1; on track for $1B by FY2025.
Cash from ops $227M vs $288M prior year; paid $115M dividends and repurchased $41M stock.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CAMPBELL'S Co reported first quarter ended October 30, 2022 results: revenue $2,575, EPS $0.99. Guidance raised.

Period: first quarter ended October 30, 2022
Revenue: $2,575
EPS: $0.99
Guidance: raised
Result: reported results

Exact text from the filing

into account the volatile economic environment." Three Months Ended ($ in millions, except per share) October 30, 2022 October 31, 2021 % Change Net Sales As Reported (GAAP) $2,575 $2,236 15% Organic 15% Earnings Before Interest and Taxes (EBIT) As Reported (GAAP) $436 $376 16% Adjusted $449 $389 15% Diluted Earnings Per Share As Reported (GAAP) $0.99 $0.86

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Source: SEC EDGAR

accession 0000016732-22-000154

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