secwatch.observer — SEC 8-K summary
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Issuer:     CAMPBELL'S Co (CPB)
CIK:        0000016732
Form:       8-K
Filed at:   2024-06-05T23:59:59+00:00
Accession:  0000016732-24-000081
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/16732/000001673224000081/0000016732-24-000081-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/16732/000001673224000081/cpb-20240605.htm
  HTML page:      https://secwatch.observer/filing/0000016732-24-000081

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer