The Campbell's Company - CPB STOCK NEWS

Campbell's reported Q1 fiscal 2025 results with net sales increasing 10% to $2.8 billion, though organic sales decreased 1%. EBIT rose 3% to $367 million, while adjusted EBIT grew 6% to $432 million, including Sovos Brands acquisition impact. EPS decreased to $0.72 from $0.78, with adjusted EPS declining 2% to $0.89.

The company reaffirmed its full-year fiscal 2025 guidance, projecting net sales growth of 9-11% and organic net sales growth of 0-2%. The Board approved a 5% increase in quarterly dividend to $0.39 per share. Additionally, Mick Beekhuizen will succeed Mark Clouse as President and CEO effective February 1, 2025.

Campbell's Company (NASDAQ: CPB) announced that Mick Beekhuizen will succeed Mark Clouse as President and CEO, effective Feb. 1, 2025. Beekhuizen, who joined Campbell's in 2019 as CFO and currently serves as President of the $5.3 billion Meals & Beverages division, will become the company's 15th CEO in its 155-year history.

Mark Clouse, who has served as President and CEO since January 2019, will retire to become President of the NFL's Washington Commanders. Under his leadership, Campbell's reshaped its portfolio, strengthened its brands, and recently completed the $2.7 billion acquisition of Sovos Brands, Inc., adding Rao's to accelerate growth.

Campbell's (NASDAQ:CPB) has announced it will release its first-quarter fiscal 2025 financial results on December 4, 2024, covering the period ended October 27, 2024. CEO Mark Clouse and CFO Carrie Anderson will host an investor conference call and webcast at 8:00 a.m. ET.

The earnings release will be distributed before the call, and management's prepared remarks transcript and earnings presentation will be available on the investor relations website. The event will include a Q&A session with investors, while press participation will be listen-only.

Campbell Soup Company shareholders have approved changing the company's name to The Campbell's Company (NASDAQ:CPB). The rebranding reflects the company's expanded portfolio beyond soup, which includes three $1 billion brands: Campbell's, Goldfish, and Pepperidge Farm, with Rao's approaching this milestone. The company's portfolio also features other notable brands like Cape Cod, Chunky, Kettle Brand, Lance, Pace, and V8. The name change, first discussed at Campbell's Fiscal 2025 Investor Day, will be effective after filing an amendment with New Jersey state.

Campbell Soup Company (NASDAQ:CPB) has announced key leadership changes in its organizational structure. Daniel L. Poland has been appointed to the newly created role of Executive Vice President and Chief Enterprise Transformation Officer, leading a new Enterprise Transformation Office focused on accelerating business performance and digital transformation. Poland, who joined Campbell's in 2022, will continue reporting to CEO Mark Clouse.

Additionally, Cassandra Green has been promoted to Senior Vice President and Head of Supply Chain, reporting to Poland. Green, who has been with Campbell's since 2010, will oversee the company's end-to-end supply chain operations including manufacturing, procurement, and logistics.

Campbell Soup Company (NASDAQ:CPB) has announced an agreement to sell noosa yoghurt to Lakeview Farms, The sale follows Campbell's acquisition of noosa through Sovos Brands in March 2024. The yogurt brand generated net sales of $177 million for the last 12 months ending October 2024. The transaction is expected to be dilutive to earnings per share by $0.01 in fiscal 2025 but is not expected to materially impact Campbell's fiscal 2025 financial results. The deal is anticipated to close in Q1 2025, subject to regulatory approvals.

Campbell Soup Company (NASDAQ:CPB) has been awarded a $3.4 million USDA grant through the Regional Conservation Partnership Program to support sustainable tomato growing in California. The company will collaborate with the Natural Resources Conservation Service, American Farmland Trust, and Resource Conservation Districts to promote sustainable agriculture practices among tomato growers. The initiative aims to reduce greenhouse gas emissions, improve soil health, enhance water stewardship, and boost farm profitability. The project will provide financial resources and technical assistance to growers to facilitate the adoption of new soil health, nutrient management, and irrigation management practices.

Campbell's released its 2024 State of the Sides Report, highlighting holiday side dish trends and preferences. The report reveals that 55% of Americans prefer side dishes over turkey, and 60% enjoy cooking sides more than the main dish. Gen Z particularly favors Mac and Cheese, with 45% naming it their favorite side. The company also launched a Edition Candle Collection featuring four scents inspired by popular side dishes, including Green Bean Casserole and Jalapeño Cheddar Mac & Cheese, retailing for $30.

V8 and Grillo's Pickles have launched a new Dill Pickle Bloody Mary Mix, combining V8's tomato juice with Grillo's signature pickle brine and natural cucumber flavor. The collaboration aims to capitalize on 2024's pickle flavor trend, with the product suitable for both cocktails and mocktails.

The mix will be available on Amazon starting October 24 in six-packs for $6.29, with nationwide store distribution planned for early 2025. The launch responds to consumer demand, as nearly 75% of Americans enjoy Bloody Marys as a brunch beverage.