The Campbell's Company Stock Price, News & Analysis

Campbell Soup Company (NYSE:CPB) announces key management changes to enhance growth and support its strategic plan. Mick Beekhuizen is appointed President of Meals & Beverages while continuing as CFO until a successor is found. Chris Foley moves from President of Meals & Beverages to lead Snacks. Beekhuizen brings financial and operational excellence, overseeing a $4.6 billion division, while Foley, with a record in brand building, will drive the $3.9 billion Snacks division's growth and margins. Former Snacks President Valerie Oswalt has left for a new opportunity.

Campbell Soup Company announced the launch of FlavorUp!, a new cooking concentrate designed to enhance meals with just a tablespoon. Available in three flavors—Rich Garlic & Herb, Caramelized Onion & Burgundy Wine, and Savory Mushroom & Herb—the product caters to busy consumers seeking restaurant-quality flavor at home. This innovative solution is timely, as 41% of consumers are cooking at home more due to tighter budgets. Suggested retail price is $4.59. The product will be available nationwide and online.

The Board of Directors of Campbell Soup Company (NYSE:CPB) declared a quarterly dividend of $0.37 per share, payable on Oct. 31, 2022. Shareholders of record as of Oct. 6, 2022 will receive this payment. In fiscal 2022, Campbell reported net sales of nearly $8.6 billion, showcasing the company's strong market presence with a portfolio of well-known brands. With over 150 years in the industry, Campbell continues to connect consumers with affordable food and beverages.

Campbell Soup Company (NYSE: CPB) reported a 6% increase in fourth-quarter net sales, reaching $2.0 billion, while full-year net sales grew 1% to $8.6 billion. Adjusted EBIT for Q4 rose 5% to $269 million, but GAAP EBIT plummeted 59% to $170 million. Adjusted EPS increased 8% to $0.56, contrasting with a 66% drop in GAAP EPS to $0.32. The company anticipates 4-6% sales growth for FY2023, although pension income is expected to decline, impacting overall earnings. CEO Mark Clouse emphasized strong operational execution amidst inflationary pressures.

Campbell Soup Company (NYSE: CPB) announced it will report its fourth-quarter and full-year fiscal 2022 financial results on Sept. 1, 2022. The conference call, hosted by CEO Mark Clouse and CFO Mick Beekhuizen, is set for 8:00 a.m. ET. Interested parties can listen via webcast. A transcript will be available within 24 hours, and a replay of the call can be accessed from 11:00 a.m. ET on Sept. 1 through 11:59 p.m. ET on Sept. 15. Campbell generated over $8.6 billion in net sales for fiscal 2020.

Campbell Soup Company (NYSE:CPB) announced the retirement of Bennett Dorrance, the longest-serving board member, after 33 years. Dorrance's contributions included leadership on various board committees, significantly impacting the company's direction. He is a major shareholder and has deep family ties to Campbell. Following his departure, Bennett Dorrance Jr, an entrepreneur with expertise in sustainability, has been elected to the board. His background in business and community initiatives is expected to bring fresh insights to the board.

Campbell Soup Company reported its third-quarter fiscal 2022 results, revealing a 15% increase in EPS from continuing operations to $0.62 and a 37% rise in adjusted EPS to $0.70. Net sales grew 7% to $2.13 billion, with organic sales up 9%. The company raised its full-year net sales guidance due to strong consumer demand but maintained its adjusted EBIT and EPS guidance amid ongoing inflation challenges. Gross margin decreased to 31.2%, while adjusted EBIT increased 23% to $321 million. Cash flows from operations grew to $1.1 billion.