Campbell Soup Q2 adj EPS $0.80 flat YoY; reaffirms FY24 outlook; Sovos deal close expected mid-March

CAMPBELL'S Co

2024-Q2 EPS reported $1.46 revenue$4,974,000,000

Net sales $2.456B (-1% reported and organic); GAAP EPS $0.68 vs $0.77 prior year.
Adjusted EBIT $364M (+1%); adjusted EPS $0.80 comparable to prior year; margin expansion in both segments.
Meals & Beverages sales -2% (declines in U.S. soup, beverages); Snacks flat (organic +1%, power brands +4%).
Reaffirms FY2024 guidance: net sales -0.5% to +1.5%, adj EPS $3.09-$3.15.
Expects to complete Sovos Brands acquisition week of March 11, 2024; not included in FY guidance.

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 updated its second-quarter fiscal 2024 ended January 28, 2024 guidance (reaffirmed).

Period: second-quarter fiscal 2024 ended January 28, 2024
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Campbell Soup Company issued a press release announcing financial results for the quarter ended January 28, 2024, a copy of which is attached as Exhibit 99.1.

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Source: SEC EDGAR

accession 0000016732-24-000038

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