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Campbell Soup Company (NYSE:CPB) CEO Mark Clouse has a message to investors after the stock sold off following the company's fourth-quarter report: overlook the "here and now" story in favor of the long-term narrative.
What Happened: Campbell reported Thursday with fourth-quarter results that came in better than Street estimates, but the stock sold off.
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Investors may have been disappointed with the absence of any financial outlook for the full year.
The company is "taking advantage of a tough moment" to build on its long-term prospects through new investments in marketing and solidify relationships with the millions of new customers, the CEO said on CNBC's "Closing Bell."
"We want to do everything we can to strengthen those relationships."
Why It's Important: Behind the scenes, Campbell's has succeeded in other non-customer facing initiatives to improve its business, Clouse said.
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For example, after paying down debt in the recent quarter, Campbell is now 12 months ahead of its prior debt reduction strategy, the CEO said.
What's Next: For Campbell's investors, Clouse said this means the company will emerge from the COVID-19 pandemic in a "very advantaged position."
Other companies are merely focused on generating incremental sales instead of building on a long-term vision, he said.
"Those are the ones that are going to be in a bit of a disadvantage."
CPB Price Action: The stock was down 1.87% at $47.66 at last check Friday.
Related Links:
Recap: Campbell Soup Q4 Earnings
Campbell Soup Gets Sales Boost As Consumers Still Loading Pantries Even After The Economy Reopening
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.