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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.
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.
Campbell Soup Company (NASDAQ:CPB) held an Investor Day outlining its next phase of growth. Key highlights include:
- A new long-term growth algorithm targeting 2-3% organic net sales growth, 4-6% adjusted EBIT growth, and 7-9% adjusted EPS growth
- Plans to change the company name to The Campbell's Company, subject to shareholder approval
- A new mission to 'Set the Standard' in the food industry
- Focus on 16 leadership brands representing 84% of enterprise sales
- A $250 million enterprise cost savings program through fiscal 2028
- Transformation of the Meals & Beverages division, including the Sovos Brands acquisition
- Continued growth and margin expansion in the Snacks division
The company aims to deliver predictable and sustainable top-tier results in the food industry.
Campbell Soup Company (NASDAQ:CPB) is set to host its Fiscal 2025 Investor Day on Tuesday, Sept. 10, 2024, from 9:00 a.m. to 2:00 p.m. ET at Nasdaq MarketSite in New York City. Key executives, including CEO Mark Clouse and CFO Carrie Anderson, will present the company's transformation progress and outline plans for accelerated growth. The event will be accessible both in-person and virtually, with a live Q&A session following management's presentations. Interested parties can register for in-person attendance or join the webcast, where they can submit questions in real-time. Presentation slides and a full replay will be available post-event on the company's investor relations website.
Campbell's® Chunky® has launched the third annual Chunky Sacks Hunger™ initiative, partnering with NFL teams and Feeding America® to combat hunger nationwide. For every sack made during the 2024-25 NFL regular season, Chunky will donate 1,000 meals to Feeding America, up to 2 million meals. New York Giants Defensive Lineman Dexter Lawrence leads as the national spokesperson, joined by players from nine other NFL teams.
The program expands from a regional to a league-wide initiative, with fans able to track progress via a national sack counter. Chunky has also partnered with Homage for a charity t-shirt, with 20% of net sales supporting Feeding America. Since its 2021 inception, Chunky Sacks Hunger has provided over 5 million meals to address food insecurity in the U.S.
Campbell Soup Company (NASDAQ:CPB) reported its Q4 and full-year fiscal 2024 results, showing mixed performance. Q4 net sales increased 11% to $2.3 billion, driven by the Sovos Brands acquisition, while organic net sales decreased 1%. Q4 adjusted EPS rose 26% to $0.63. For the full year, net sales increased 3% to $9.6 billion, with organic net sales down 1%. Full-year adjusted EPS grew 3% to $3.08.
The company provided fiscal 2025 guidance, projecting net sales growth of 9-11% and organic net sales growth of 0-2%. Adjusted EBIT is expected to grow 9-11%, while adjusted EPS is forecast to increase 1-4% to $3.12-$3.22. The guidance includes the impact of the recent Pop Secret divestiture and reflects ongoing consumer recovery challenges.
Campbell Soup Company (NASDAQ:CPB) reported its fourth-quarter and full-year fiscal 2024 results, with notable highlights:
- Q4 net sales increased 11% to $2.3 billion, driven by the Sovos Brands acquisition
- Full-year net sales increased 3% to $9.6 billion
- Q4 adjusted EPS increased 26% to $0.63
- Full-year adjusted EPS increased 3% to $3.08
The company also provided fiscal 2025 guidance:
- Net sales growth of 9% to 11%
- Organic net sales growth of 0% to 2%
- Adjusted EBIT growth of 9% to 11%
- Adjusted EPS growth of 1% to 4% ($3.12 to $3.22)
Campbell's CEO Mark Clouse highlighted the company's solid performance, strategic progress, and confidence in future growth prospects.
Campbell Soup Company (NASDAQ:CPB) has sold its Pop Secret popcorn business to Our Home, an independent better-for-you snack company. The financial terms were not disclosed. Pop Secret generated net sales of approximately $120 million in fiscal 2024. This transaction is expected to dilute Campbell's fiscal 2025 earnings per share by about $0.04, due to a transition service agreement and cost actions.
Chris Foley, Executive Vice President and President of Campbell's Snacks, stated that this sale is part of their strategy to focus the Snacks portfolio, aiming to drive greater focus and accelerated growth across the Snacks division and portfolio of leading brands. BofA Securities acted as the exclusive financial advisor, while Blank Rome served as legal advisor to Campbell's for this transaction.
Campbell Soup Company (NYSE:CPB) has announced it will report its fourth-quarter and full-year fiscal 2024 financial results on August 29, 2024. The company will host an investor conference call and webcast at 8:00 a.m. ET, led by CEO Mark Clouse and CFO Carrie Anderson. The earnings press release will be distributed before the call. Campbell also confirmed its planned stock exchange listing transfer to Nasdaq Global Select Market on August 19, 2024. Additionally, the company will host an Investor Day on September 10, 2024 at the Nasdaq MarketSite in New York City, where executives will discuss Campbell's long-term strategy and financial outlook.
Campbell Soup Company (NYSE:CPB) has announced its decision to transfer its stock exchange listing from the New York Stock Exchange (NYSE) to the Nasdaq Global Select Market (Nasdaq) on Aug. 16, 2024. The company will continue to trade under the ticker symbol "CPB" with trading on Nasdaq expected to begin on Aug. 19, 2024. This move is anticipated to provide Campbell with Nasdaq index inclusion opportunities and certain cost savings.
Additionally, Campbell has scheduled its Fiscal 2025 Investor Day for Sept. 10, 2024, to be held at the Nasdaq MarketSite in New York City. During this event, the company's executive leadership team will discuss Campbell's long-term strategy and financial outlook. While in-person attendance is by invitation only, a live webcast will be available for all interested parties.
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