Camden / NJ. (csc) Campbell Soup Company reported results for its second-quarter fiscal 2024 ended January 28, 2024. Summary:
- Net Sales were USD 2.5 billion, decreasing 1 percent on both a reported and organic basis. On a two-year-compound annual growth rate (CAGR), net sales increased 5 percent and organic net sales increased 6 percent due to favorable net price realization and continued brand strength.
- Earnings Before Interest and Taxes (Ebit) were USD 317 million; Adjusted Ebit was USD 364 million, an increase of 1 percent.
- Earnings Per Share (EPS) were USD 0.68; Adjusted EPS were USD 0.80, comparable to the prior year.
- Reaffirms full-year fiscal 2024 guidance.
- Subject to the satisfaction or waiver of customary closing conditions, Campbell expects to complete the acquisition of Sovos Brands Inc. the week of March 11, 2024.
«We once again delivered on our commitments, with a sequential improvement in volume trends and year-over-year operating margin expansion in both our Meals and Beverages and Snacks divisions,» said President and CEO Mark Clouse. «We are excited about the anticipated completion of the acquisition of Sovos Brands which will bring incremental growth to our Meals and Beverages division and continue the transformation of our highly advantaged portfolio.»
For additional information please read the Company’s PDF file below (79 KB).
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