Campbell Q3 adj. EPS up 10% to $0.75; completes Sovos Brands acquisition, updates FY guidance

CAMPBELL'S Co

2024-Q3 EPS reported $1.91 revenue$7,343,000,000

Net sales $2.4B (+6% reported, organic flat); adj. EBIT $354M (+13%); adj. EPS $0.75 (+10%).
Completed Sovos Brands acquisition on March 12; integration on track with $3M cost synergies in Q3.
Meals & Beverages segment net sales +15% with acquisition; Snacks -2% (organic -1%).
Updated FY24 guidance: net sales +3-4%, organic net sales -1% to 0%, adj. EPS $3.07-$3.10 (2-3% growth).
Cost savings program delivered $940M total; on track for $1B by end of FY25; $50M annual Sovos synergies by FY26.

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