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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 Soup Company (CPB) announced a robust 15% increase in net sales, driven by inflation-related pricing and brand strength, leading to a reported EBIT rise of 16% to $436 million. Adjusted EPS also grew 15%, reaching $1.02. The company has raised its fiscal 2023 guidance, now projecting net sales growth of 7% to 9%, up from 4% to 6%. Despite a decrease in cash flow from operations, Campbell remains committed to shareholder value with ongoing stock repurchases and dividends. The company achieved $10 million in savings under its cost savings program and aims for $1 billion by fiscal 2025.
The Board of Directors of Campbell Soup Company (NYSE:CPB) has declared a quarterly dividend of
Campbell Soup Company (NYSE: CPB) will report its first-quarter fiscal 2023 financial results on
Campbell Soup Company (NYSE:CPB) announces key management changes to enhance growth and support its strategic plan. Mick Beekhuizen is appointed President of Meals & Beverages while continuing as CFO until a successor is found. Chris Foley moves from President of Meals & Beverages to lead Snacks. Beekhuizen brings financial and operational excellence, overseeing a $4.6 billion division, while Foley, with a record in brand building, will drive the $3.9 billion Snacks division's growth and margins. Former Snacks President Valerie Oswalt has left for a new opportunity.
Campbell Soup Company announced the launch of FlavorUp!, a new cooking concentrate designed to enhance meals with just a tablespoon. Available in three flavors—Rich Garlic & Herb, Caramelized Onion & Burgundy Wine, and Savory Mushroom & Herb—the product caters to busy consumers seeking restaurant-quality flavor at home. This innovative solution is timely, as 41% of consumers are cooking at home more due to tighter budgets. Suggested retail price is $4.59. The product will be available nationwide and online.
The Board of Directors of Campbell Soup Company (NYSE:CPB) declared a quarterly dividend of
Campbell Soup Company (NYSE: CPB) reported a 6% increase in fourth-quarter net sales, reaching $2.0 billion, while full-year net sales grew 1% to $8.6 billion. Adjusted EBIT for Q4 rose 5% to $269 million, but GAAP EBIT plummeted 59% to $170 million. Adjusted EPS increased 8% to $0.56, contrasting with a 66% drop in GAAP EPS to $0.32. The company anticipates 4-6% sales growth for FY2023, although pension income is expected to decline, impacting overall earnings. CEO Mark Clouse emphasized strong operational execution amidst inflationary pressures.
Campbell Soup Company (NYSE: CPB) announced it will report its fourth-quarter and full-year fiscal 2022 financial results on
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