Camden / NJ. (csc) Campbell Soup Company reported results for its first-quarter fiscal 2021 and announced a 6 percent increase to its quarterly dividend. Highlights and summary of an outstanding period:
- Net Sales increased 7 percent; Organic Net Sales increased 8 percent reflecting continued elevated demand for Campbell’s brands.
- Earnings Before Interest and Taxes (Ebit) increased 45 percent to USD 461 million. Adjusted Ebit increased 18 percent to USD 463 million.
- Earnings Per Share (EPS) from Continuing Operations of USD 1.02 increased 82 percent. Adjusted EPS of USD 1.02 increased 31 percent.
- Increases quarterly dividend by 6 percent to USD 0.37 per share.
- Provides guidance for the second quarter of fiscal 2021.
Mark Clouse, Campbell’s President and CEO, stated, «Fiscal 2021 is off to a strong start with first-quarter sales growth across both divisions and double-digit gains in Ebit and EPS. Our Meals + Beverages division continued to drive impressive sales and margin growth as we positioned our brands to align with macro consumer trends, and retailers rebuilt inventory for the holidays and the heart of soup season. Snacks continued to deliver strong results while increasing capacity in key power brands. We continue to build a high-performing Snacks business with differentiated brands and improving margins. The Board approved a 6 percent increase in our quarterly dividend, reflecting the company’s strong earnings performance, cash flows and increasing confidence in our long-term growth prospects, as well as our continued commitment to shareholder returns.»
For additional information please read the company’s PDF file below (162 KB):
20201209-CAMPBELL-Q1-2021.