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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 Full Futures partnership marks three years of advancing school nutrition, now operating in Camden, N.J., Charlotte, N.C., and Hanover, P.A. The program has reached over 12,000 students, caregivers, and school staff across its locations, focusing on four key pillars: culture, infrastructure, nutrition education, and food access.
Key achievements include distributing 37,000 pounds of food through farmers' markets in Camden, implementing aquaponics systems reaching 1,500 students in Charlotte, and launching nutrition education initiatives. The program will officially launch in Hanover during the 2024-2025 school year, emphasizing family engagement and access to fresh, local foods.
The initiative partners with multiple organizations, including Alliance for a Healthier Generation, local school districts, and community organizations, aiming to create a replicable model for improving school nutrition nationwide.
Spritz Society and V8 have partnered to launch a first-of-its-kind Bloody Mary Spritz. The -edition beverage combines Spritz Society's cocktail expertise with V8's classic tomato flavor, creating an innovative take on the traditional Bloody Mary. Made with real white wine and natural ingredients, each 12oz can contains 4.5% ABV, 120 calories, and 5g of sugar.
The product will be available from December 12 at 9:00am ET on SpritzSociety.com, priced at $25 for a 4-pack with a minimum order of two packs. The launch is timed for National Bloody Mary Day on January 1st.
Campbell's reported Q1 fiscal 2025 results with net sales increasing 10% to $2.8 billion, though organic sales decreased 1%. EBIT rose 3% to $367 million, while adjusted EBIT grew 6% to $432 million, including Sovos Brands acquisition impact. EPS decreased to $0.72 from $0.78, with adjusted EPS declining 2% to $0.89.
The company reaffirmed its full-year fiscal 2025 guidance, projecting net sales growth of 9-11% and organic net sales growth of 0-2%. The Board approved a 5% increase in quarterly dividend to $0.39 per share. Additionally, Mick Beekhuizen will succeed Mark Clouse as President and CEO effective February 1, 2025.
Campbell's Company (NASDAQ: CPB) announced that Mick Beekhuizen will succeed Mark Clouse as President and CEO, effective Feb. 1, 2025. Beekhuizen, who joined Campbell's in 2019 as CFO and currently serves as President of the $5.3 billion Meals & Beverages division, will become the company's 15th CEO in its 155-year history.
Mark Clouse, who has served as President and CEO since January 2019, will retire to become President of the NFL's Washington Commanders. Under his leadership, Campbell's reshaped its portfolio, strengthened its brands, and recently completed the $2.7 billion acquisition of Sovos Brands, Inc., adding Rao's to accelerate growth.
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.
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