The Campbell's Company - CPB STOCK NEWS

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 $0.37 per share, payable on January 30, 2023. Shareholders of record by the close of business on January 5, 2023 will receive the dividend. Campbell generated nearly $8.6 billion in net sales during fiscal 2022, continuing its legacy of providing affordable food and beverages. The company is recognized as a member of the S&P 500 and various sustainability indices, reflecting its commitment to environmental stewardship.

Campbell Soup Company (NYSE: CPB) will report its first-quarter fiscal 2023 financial results on December 7, 2022. An investor conference call and webcast will take place at 8:00 a.m. ET, hosted by Mark Clouse, CEO, and Mick Beekhuizen, CFO. Interested parties can access the call via the company website. The earnings press release will be distributed before the call. Campbell generated nearly $8.6 billion in net sales in fiscal 2022, showcasing its long-standing presence in the food industry.

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 $0.37 per share, payable on Oct. 31, 2022. Shareholders of record as of Oct. 6, 2022 will receive this payment. In fiscal 2022, Campbell reported net sales of nearly $8.6 billion, showcasing the company's strong market presence with a portfolio of well-known brands. With over 150 years in the industry, Campbell continues to connect consumers with affordable food and beverages.

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.