Campbell Q3 net sales +5% to $2.23B; adj. EPS -3% to $0.68; FY guidance reaffirmed

CAMPBELL'S Co

2023-Q3 EPS reported $2.29 revenue$7,289,000,000

Adjusted EBIT fell 2% to $313M on lower pension income; reported EBIT -14% to $254M.
Snacks segment net sales +12% driven by power brands (+16%); Meals & Beverages -2%.
Reaffirmed FY2023 guidance: organic net sales +8.5-10%, adj. EPS $2.95-$3.00.
Cost savings program achieved $880M to date; on track for $1B by end of FY2025.
Cash from operations $918M YTD vs $1.1B prior; capital expenditures $257M vs $179M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CAMPBELL'S Co reported third-quarter fiscal 2023 ended April 30, 2023 results: revenue $2,229, EPS $0.53. Guidance reaffirmed.

Period: third-quarter fiscal 2023 ended April 30, 2023
Revenue: $2,229
EPS: $0.53
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Three Months Ended Nine Months Ended ($ in millions, except per share) April 30, 2023 May 1, 2022 % Change April 30, 2023 May 1, 2022 % Change Net Sales As Reported (GAAP) $2,229 $2,130 5% $7,289 $6,575 11% Organic 5% 11% Earnings Before Interest and Taxes (EBIT) As Reported (GAAP) $254 $294 (14)% $1,040 $993 5% Adjusted $313 $321 (2)% $1,125 $1,028 9%

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Source: SEC EDGAR

accession 0000016732-23-000074

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