Campbell: Reports Fourth Quarter 2020 Results

Camden / NJ. (csc) Campbell Soup Company reported results for its fourth-quarter and full-year fiscal 2020. Fiscal 2020 was a 53-week year, with the extra week falling in the fourth quarter. The benefit of the additional week in both the fourth-quarter and full-year results is estimated to be USD 0.04 per share. Highlights and summary of an outstanding period:

  • Fourth-quarter Net Sales increased 18 percent; Organic Net Sales increased 12 percent reflecting continued increased demand for our products
  • Fourth-quarter Earnings Per Share (EPS) from Continuing Operations of USD 0.28 increased from a loss of USD 0.02; Adjusted EPS of USD 0.63 increased 50 percent
  • Full-year Net Sales and Organic Net Sales increased 7 percent and EPS from Continuing Operations of USD 1.95 increased 24 percent; Adjusted EPS of USD 2.95 increased 28 percent
  • Given the uncertain operating environment due to the Covid-19 pandemic, the Company is providing guidance limited to the first quarter of fiscal 2021

Mark Clouse, Campbell’s President and CEO, stated, «Our strong fourth-quarter and full-year fiscal 2020 performance was enabled by the extraordinary work of our teams who remained agile and resilient in a challenging operating environment. We continued to invest in our businesses during the quarter as we experienced unprecedented demand for our products and welcomed millions of new households to the Campbell portfolio. This quarter concluded a year that furthered our strategic plan and solidified a significantly strengthened foundation that we will build upon going forward as we begin fiscal 2021.»

For additional information please read the company’s PDF file below (76 KB):