The Campbell's Company - CPB STOCK NEWS

Campbell Soup Company (NYSE:CPB) announced the retirement of Bennett Dorrance, the longest-serving board member, after 33 years. Dorrance's contributions included leadership on various board committees, significantly impacting the company's direction. He is a major shareholder and has deep family ties to Campbell. Following his departure, Bennett Dorrance Jr, an entrepreneur with expertise in sustainability, has been elected to the board. His background in business and community initiatives is expected to bring fresh insights to the board.

Campbell Soup Company reported its third-quarter fiscal 2022 results, revealing a 15% increase in EPS from continuing operations to $0.62 and a 37% rise in adjusted EPS to $0.70. Net sales grew 7% to $2.13 billion, with organic sales up 9%. The company raised its full-year net sales guidance due to strong consumer demand but maintained its adjusted EBIT and EPS guidance amid ongoing inflation challenges. Gross margin decreased to 31.2%, while adjusted EBIT increased 23% to $321 million. Cash flows from operations grew to $1.1 billion.

Campbell Soup Company (NYSE:CPB) will participate in a fireside chat at the dbAccess Global Consumer Conference on June 15, 2022, at 10:20 a.m. CEST in Paris, France. CEO Mark Clouse and CFO Mick Beekhuizen are scheduled to speak. The event will be available via a live webcast, which will also be archived for later access. Campbell Soup has a rich history of over 150 years and generated nearly $8.5 billion in fiscal 2021 net sales, offering well-known brands like Campbell’s and Goldfish.

Campbell Soup Company (NYSE: CPB) will report its third-quarter fiscal 2022 financial results on June 8, 2022. CEO Mark Clouse and CFO Mick Beekhuizen will host an investor conference call at 8:00 a.m. ET, which will also be available via webcast. A transcript will be posted on Campbell's website after the event. In fiscal 2021, the company achieved nearly $8.5 billion in net sales and maintains a portfolio of well-known brands, including Campbell's, Goldfish, and Pepperidge Farm.

The Board of Directors of Campbell Soup Company (NYSE:CPB) has declared a quarterly dividend of $0.37 per share, payable on August 1, 2022 to shareholders of record as of July 7, 2022. This announcement underscores Campbell's commitment to returning value to shareholders. With fiscal 2021 net sales nearing $8.5 billion, the company continues to strengthen its financial position.

SpaghettiOs® has partnered with artist KidSuper to create a nostalgic limited-edition lunchbox, celebrating 90s memories. Available on May 10 at 5 p.m. EST via the NTWRK app, only 120 lunchboxes will be sold at $30 each. The initiative targets Millennials, who represent over one-third of SpaghettiOs' share volume, reflecting a 20% growth over two years. This collaboration also coincides with the brand's first major redesign since 2004, reinforcing its cultural relevance and appealing to collectors.

Campbell Soup Company (NYSE:CPB) announced a new allocation of 42 Community Impact Grants totaling nearly $1 million to nonprofit organizations in its operational areas. This initiative aims to enhance food access, promote healthy living, and support local neighborhoods, bringing Campbell's fiscal 2022 grantmaking total to over $2 million. The grant process is employee-driven, empowering workers to nominate impactful organizations. Grants include $20,000 each for various initiatives across 30 locations and larger grants for national organizations.