Camden / NJ. (csc) Campbell Soup Company reported results for its third-quarter fiscal 2024 ended April 28, 2024. Unless otherwise stated, all comparisons are to the same period of fiscal 2023. Third quarter and year-to-date results include a partial quarter of contribution of the Sovos Brands acquisition. Summary:
- Completed the acquisition of Sovos Brands, Inc. (Sovos Brands) on March 12, 2024.
- Net Sales were USD 2.4 billion, increasing 6 percent, and were comparable to prior year on an organic basis. On a two-year-compound annual growth rate (CAGR), net sales increased 5 percent and organic net sales increased 2 percent.
- Earnings Before Interest and Taxes (Ebit) were USD 248 million; Adjusted Ebit was USD 354 million, an increase of 13 percent including the impact of the acquisition.
- Earnings Per Share (EPS) were USD 0.44; Adjusted EPS were USD 0.75, increasing 10 percent.
- Updates full-year fiscal 2024 guidance to include Sovos Brands.
«We delivered a solid third quarter with sequential volume improvement, stable organic net sales, double-digit adjusted Ebit and adjusted EPS growth,» said President and CEO Mark Clouse. «We are excited about the integration of the Sovos Brands business, which already is bringing significant incremental growth to our company as we continue to navigate the pace of consumer recovery.»
For additional information please read the Company’s PDF file below (281 KB).
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