Campbell: Reports Q4 and Full-Year Fiscal 2021 Results

Camden / NJ. (csc) Campbell Soup Company reported results for its fourth-quarter and full-year fiscal 2021. The fourth quarter and full year of fiscal 2020 contained one additional week which was estimated to be 7 percentage points and 2 percentage points in net sales, respectively, and approximately USD 0.04 in adjusted earnings per share.

Highlights for the fourth quarter

  • Net Sales decreased 11 percent. Organic Net Sales decreased 4 percent cycling elevated demand and partial retailer inventory recovery in the prior year.
  • Earnings Per Share (EPS) from Continuing Operations were USD 0.95. Adjusted EPS decreased USD 0.08, or 13 percent, to USD 0.55, of which approximately USD 0.04 reflected the additional week in fiscal 2020.

Highlights for the full year

  • Net Sales decreased 2 percent and Organic Net Sales were comparable to prior year.
  • EPS from Continuing Operations were USD 3.30. Adjusted EPS increased 1 percent to USD 2.98.
  • 75 percent of brand portfolio grew or held share demonstrating strong underlying brand health and momentum.
  • Company plans to hold an Investor Day on December 14, 2021.

Mark Clouse, Campbell’s President and CEO, said, «The fourth quarter was a positive finish to a solid year during which we successfully navigated a difficult environment, made significant progress advancing our strategic plan and addressed the executional pressures we experienced in the third quarter. Our growth in adjusted EPS during fiscal 2021 on comparable organic sales, coupled with our expanded share growth across the majority of our core categories, demonstrated strong performance especially when compared to the significant growth in the prior year. As we head into fiscal 2022, we have robust in-market momentum on our brands, strong plans to manage inflation, and a talented and committed team to lead through what we expect to be a very challenging environment.»

Since Campbell no longer has a bakery business worth reporting on, the reason for us to report on the company in more detail has ceased to exist. Additional information on the reporting period is available in the Investor Relation section on Campbell’s website.