Campbell: Reports Third-Quarter 2020 Results

Camden / NJ. (csc) Campbell Soup Company reported its third-quarter results for fiscal 2020. Mark Clouse, Campbell’s President and CEO, stated, «Since the onset of the Covid-19 pandemic, we have simplified our mission to keep our people safe, while meeting the urgent need for food and supporting the communities in which we operate. I am incredibly proud of how the entire Campbell organization has mobilized and want to thank our team, especially those on the front lines, for continuing to step up to ensure our food is readily available across North America.

«In the quarter, we experienced unprecedented broad-based demand across our brands as consumers sought food that delivered comfort, quality and value. This demand resulted in double-digit increases in organic sales, adjusted EBIT and adjusted EPS. In addition, Campbell’s products were purchased by millions of new households, with total company household penetration increasing over 6 percentage points in the quarter compared to the third quarter of fiscal 2019.»

  • Net sales increased 15 percent; organic net sales increased 17 percent reflecting increased demand for the products
  • Earnings per share (EPS) from continuing operations of USD 0.55 increased 34 percent; adjusted eps of USD 0.83 increased 57 percent
  • Campbell raises fiscal 2020 guidance to reflect improved outlook based on current operating environment

For additional information please read Campbell’s PDF file below (271 KB):