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Founded in 1869, Campbell Soup Company (NYSE: CPB) is a leading food manufacturer in North America, famous for its iconic red-and-white labeled canned soup. Headquartered in Camden, New Jersey, Campbell has grown its portfolio over the years to include a wide range of products and brands, such as Pepperidge Farm, Goldfish, Snyder's of Hanover, Swanson, Pacific Foods, Prego, Pace, V8, and most recently, Rao's, which was acquired in March 2024.
Campbell's fiscal 2023 revenue distribution highlights its diversified business model: snacks contributed to 50% of total revenue, soup 29%, other simple meals 13%, and beverages 8%. The majority of Campbell's sales, nearly 90%, come from the United States, with the remainder from Canada and Latin America.
In recent news, Campbell Soup Company has partnered with McCain Foods USA and the Soil Health Institute (SHI) in a project funded by the USDA's Regional Conservation Partnership Program (RCPP). This initiative aims to improve soil health and promote climate-smart agricultural practices on over 6,000 acres of potato farms in Wisconsin and Maine. McCain and Campbell's involvement highlights their commitment to sustainable farming practices and environmental stewardship.
Campbell Soup Company generated fiscal 2023 net sales of $9.4 billion and continues to be a trusted name for delicious and affordable food and beverages. The company prides itself on a long-standing tradition of giving back to the community and acting as a responsible environmental steward. Campbell is a member of the Standard & Poor's 500 and is included in the FTSE4Good and Bloomberg Gender-Equality Indices.
Campbell's (NASDAQ:CPB) has announced it will release its first-quarter fiscal 2025 financial results on December 4, 2024, covering the period ended October 27, 2024. CEO Mark Clouse and CFO Carrie Anderson will host an investor conference call and webcast at 8:00 a.m. ET.
The earnings release will be distributed before the call, and management's prepared remarks transcript and earnings presentation will be available on the investor relations website. The event will include a Q&A session with investors, while press participation will be listen-only.
Campbell Soup Company shareholders have approved changing the company's name to The Campbell's Company (NASDAQ:CPB). The rebranding reflects the company's expanded portfolio beyond soup, which includes three $1 billion brands: Campbell's, Goldfish, and Pepperidge Farm, with Rao's approaching this milestone. The company's portfolio also features other notable brands like Cape Cod, Chunky, Kettle Brand, Lance, Pace, and V8. The name change, first discussed at Campbell's Fiscal 2025 Investor Day, will be effective after filing an amendment with New Jersey state.
Campbell Soup Company (NASDAQ:CPB) has announced key leadership changes in its organizational structure. Daniel L. Poland has been appointed to the newly created role of Executive Vice President and Chief Enterprise Transformation Officer, leading a new Enterprise Transformation Office focused on accelerating business performance and digital transformation. Poland, who joined Campbell's in 2022, will continue reporting to CEO Mark Clouse.
Additionally, Cassandra Green has been promoted to Senior Vice President and Head of Supply Chain, reporting to Poland. Green, who has been with Campbell's since 2010, will oversee the company's end-to-end supply chain operations including manufacturing, procurement, and logistics.
Campbell Soup Company (NASDAQ:CPB) has announced an agreement to sell noosa yoghurt to Lakeview Farms, The sale follows Campbell's acquisition of noosa through Sovos Brands in March 2024. The yogurt brand generated net sales of $177 million for the last 12 months ending October 2024. The transaction is expected to be dilutive to earnings per share by $0.01 in fiscal 2025 but is not expected to materially impact Campbell's fiscal 2025 financial results. The deal is anticipated to close in Q1 2025, subject to regulatory approvals.
Campbell Soup Company (NASDAQ:CPB) has been awarded a $3.4 million USDA grant through the Regional Conservation Partnership Program to support sustainable tomato growing in California. The company will collaborate with the Natural Resources Conservation Service, American Farmland Trust, and Resource Conservation Districts to promote sustainable agriculture practices among tomato growers. The initiative aims to reduce greenhouse gas emissions, improve soil health, enhance water stewardship, and boost farm profitability. The project will provide financial resources and technical assistance to growers to facilitate the adoption of new soil health, nutrient management, and irrigation management practices.
Campbell's released its 2024 State of the Sides Report, highlighting holiday side dish trends and preferences. The report reveals that 55% of Americans prefer side dishes over turkey, and 60% enjoy cooking sides more than the main dish. Gen Z particularly favors Mac and Cheese, with 45% naming it their favorite side. The company also launched a Edition Candle Collection featuring four scents inspired by popular side dishes, including Green Bean Casserole and Jalapeño Cheddar Mac & Cheese, retailing for $30.
V8 and Grillo's Pickles have launched a new Dill Pickle Bloody Mary Mix, combining V8's tomato juice with Grillo's signature pickle brine and natural cucumber flavor. The collaboration aims to capitalize on 2024's pickle flavor trend, with the product suitable for both cocktails and mocktails.
The mix will be available on Amazon starting October 24 in six-packs for $6.29, with nationwide store distribution planned for early 2025. The launch responds to consumer demand, as nearly 75% of Americans enjoy Bloody Marys as a brunch beverage.
Campbell Soup Company (NASDAQ:CPB) and Harris Blitzer Sports & Entertainment (HBSE) have announced a multi-year marketing partnership spanning four sports franchises: the Philadelphia 76ers (NBA), Washington Commanders (NFL), New Jersey Devils (NHL), and Joe Gibbs Racing (NASCAR). The partnership also includes Prudential Center in Newark, N.J.
This collaboration will allow Campbell's to showcase its 16 leadership brands in top U.S. media markets through unique activations and offerings. The partnership is part of Campbell's new 'Kitchen 1869' initiative, aimed at driving growth through brand alliances, licensing opportunities, and enterprise-level marketing partnerships.
Specific activations across HBSE's properties will be announced throughout the year, enabling fans to connect with Campbell's brands in prominent sports and entertainment markets. The partnership was formed collaboratively between Campbell's and HBSE's Global Partnerships division.
Pacific Foods has launched the #TGISunday content series in collaboration with celebrity chef Matty Matheson to combat the 'Sunday Scaries' phenomenon. A recent survey revealed that Americans experience this pre-Monday anxiety an average of 36 times a year, starting around 3:54 p.m. on Sundays and lasting about 6 hours.
The initiative aims to transform Sunday anxiety into culinary joy by offering easy, comforting recipes on Pacific Foods' website. Matheson and other food experts will share curated recipes designed to embrace the calming power of cooking. The series will feature Matheson's Spicy Shrimp Pasta Bake recipe and encourage viewers to share their own meal-hacking tips using Pacific Foods products.
Fans can also enter to win a custom illustrated soup mug designed by Pacific and Matheson. The campaign seeks to inspire more creativity in cooking routines and showcase new ways to use Pacific products.
Campbell Soup Company (NASDAQ:CPB) has announced its regular quarterly dividend. The Board of Directors has declared a dividend of $0.37 per share on Campbell's capital stock. This dividend will be payable on October 28, 2024, to shareholders who are on record at the close of business on October 3, 2024. This announcement demonstrates Campbell's commitment to providing consistent returns to its shareholders through dividend payments.
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