Campbell Soup Manages Q4 Top-Line Beat; Notes Margin Pressure

  • Campbell Soup Co CPB reported fourth-quarter FY22 sales growth of 6% year-on-year to $1.99 billion, beating the consensus of $1.98 billion.
  • Net sales from the Meals & Beverages segment rose 6%, and the Snacks segment climbed 6%.
  • Gross margin contracted 260 basis points Y/Y to 28.7%. Adjusted EBIT of $269 million increased 5% Y/Y.
  • Total costs and expenses increased 24.3% to $1.8 billion.
  • Adjusted EPS of $0.56 was in line with the analyst consensus.
  • The company held $109 million in cash and equivalents as of July 31, 2022. Cash provided by operating activities for twelve months totaled $1.2 billion.
  • Campbell said it remains on track to deliver savings of $1 billion by the end of fiscal 2025.
  • Outlook: Campbell sees FY23 EPS of $2.85 - $2.95 versus the consensus of $2.92.
  • The company expects FY23 sales growth of 4% - 6%.
  • Price Action: CPB shares are trading lower by 2.77% at $48.98 on the last check Thursday.
  • Photo Via Company
Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!