The Campbell's Company - CPB STOCK NEWS

Campbell's Foundation has announced $920,000 in Community Impact Grants to 46 nonprofit organizations across their operating communities. This employee-led grant initiative brings Campbell's (NASDAQ:CPB) fiscal 2025 total grantmaking to over $2.6 million.

Each recipient organization will receive $20,000 to support initiatives focused on food access, healthy living, and neighborhood revitalization. The grants will benefit 30 Campbell's communities, supporting various programs including emergency food services, nutrition education, community gardens, physical activity initiatives, and neighborhood improvement projects.

The recipients span across multiple locations including Austin, Camden, Charlotte, Cincinnati, and international locations like Mexico City and Mississauga. The Foundation, established in 1953, continues its legacy of supporting communities through direct grants, employee matching gifts, and strategic nonprofit partnerships.

Campbell's (NASDAQ:CPB) has appointed Aaron Gwinner as Senior Vice President and Chief Digital & Technology Officer, effective April 14, 2025. Gwinner will spearhead the company's digital transformation strategy and oversee the overall strategy and execution of digital and IT functions, reporting to Dan Poland, Executive Vice President and Chief Enterprise Transformation Officer.

Gwinner brings over 30 years of technology experience, previously serving as Senior Vice President and Chief Information Officer at Reynolds American since 2019. Prior to that, he spent 26 years at The Coca-Cola Company in various roles, including Global Lead, IT Transformation, and Chief Information Officer for digital, marketing and public affairs. He holds a B.S. in information systems from Kennesaw State University and an M.B.A. from Georgia State University.

Campbell's (CPB) reported Q2 fiscal 2025 results with net sales increasing 9% to $2.7 billion, though organic net sales decreased 2%. The company's EBIT rose to $327 million, with adjusted EBIT up 2% to $372 million. Earnings per share were $0.58, while adjusted EPS declined 8% to $0.74.

The Meals & Beverages segment saw 21% sales growth driven by the Sovos Brands acquisition, while organic sales fell 1%. The Snacks segment experienced a 6% decrease in sales, with organic sales down 3%. Year-to-date cash flow from operations reached $737 million, with $283 million returned to shareholders through dividends and share repurchases.

Campbell's updated its fiscal 2025 guidance, now projecting net sales growth of 6-8%, organic net sales between -2% to flat, and adjusted EPS of $2.95-$3.05. The company has achieved $65 million in savings under its $250 million cost savings program announced in September 2024.

Campbell's (NASDAQ: CPB) has announced its participation in the upcoming BofA Securities 2025 Consumer and Retail Conference. President and CEO Mick Beekhuizen and EVP and CFO Carrie Anderson will engage in a fireside chat scheduled for March 11, 2025, at 8:50 a.m. EST.

Investors and interested parties can access a live webcast of the discussion through the Events & Presentations section on Campbell's investor relations website. A replay of the session will be made available on the same platform after the event.

Campbell's (NASDAQ:CPB) Board of Directors has announced a quarterly dividend of $0.39 per share on the company's capital stock. The dividend will be paid on April 28, 2025, to shareholders who are on record as of April 3, 2025.

Campbell's (NASDAQ:CPB) has completed the sale of noosa yoghurt business to Lakeview Farms, Following the transaction, Lakeview Farms and noosa will merge to form Novus Foods. The financial terms of the deal were not disclosed. The divestiture is expected to have a dilutive impact of approximately $0.01 on Campbell's earnings per share in fiscal 2025. Campbell's had initially acquired noosa yoghurt as part of its Sovos Brands acquisition in March 2024.

The Campbell's Company (NASDAQ:CPB) has announced it will release its second quarter fiscal 2025 financial results on March 5, 2025, covering the period ended January 26, 2025. CEO Mick Beekhuizen and CFO Carrie Anderson will host an investor conference call and webcast at 8:00 a.m. ET.

Prior to the call, management's prepared remarks transcript and earnings presentation will be available on the company's investor relations website. The conference call will include a Q&A session with the investment community, with press participation in listen-only mode. A webcast replay and full transcript will be posted within 24 hours of the event.

Campbell's (NASDAQ:CPB) has appointed Risa Cretella as Executive Vice President and President of Meals & Beverages division, effective Feb. 1, 2025. Cretella, who joined Campbell's in March 2024 following the Sovos Brands acquisition, will report to incoming President and CEO Mick Beekhuizen.

In her new role, Cretella will lead the Meals & Beverages division, overseeing brands including Campbell's, Chunky, Pace, Pacific Foods, Prego, Rao's, Swanson and V8. She brings nearly 25 years of food industry experience, notably leading Rao's to become a nearly $1 billion brand during her six-year tenure at Sovos Brands. Her previous experience includes senior roles at Pinnacle Foods, where she managed the $1 billion Birds Eye brand, and The J.M. Smucker Company.

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.