earnings
confidence high
sentiment neutral
materiality 0.55
Campbell Q1 net sales down 2%; adjusted EPS $0.91 vs $1.02 prior year; reaffirms FY24 guidance
CAMPBELL'S Co
2024-Q1 EPS reported
$0.78
revenue$2,518,000,000
- Net sales $2.518B (-2% reported, -1% organic); adjusted EBIT $407M (-9%).
- Adjusted EPS $0.91 (-11%); GAAP EPS $0.78 (-21%).
- Reaffirms FY24 guidance: net sales -0.5% to +1.5%, adj EPS $3.09-$3.15.
- Sovos Brands acquisition expected to close calendar 2024; not in FY24 outlook.
- Meals & Beverages segment sales -4%; Snacks organic +1% driven by power brands.