Secret

2024

when

Billion

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<p class="has-drop-cap">Campbell Soup Company (NASDAQ: CPB) concluded the <a aria-label="fourth quarter of fiscal 2024 (opens in a new tab)" href="https://s27.q4cdn.com/108522393/files/doc_financials/2024/q4/Q4FY24-Earnings-Press-Release_Final.pdf" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">fourth quarter of fiscal 2024</a> with notable financial metrics. The company reported net sales of $2.3 billion, marking an 11% increase compared to the same period last year. This growth was largely attributed to the acquisition of Sovos Brands, Inc., which significantly bolstered Campbell’s sales figures. <br><br>However, on an organic basis, which excludes the impact of acquisitions, net sales decreased by 1%, reflecting a slight decline in underlying business performance.</p>
<p>Earnings Before Interest and Taxes (EBIT) saw a mixed outcome. Reported EBIT plummeted by 72% to $77 million, primarily due to impairment charges and pension adjustments. However, adjusted EBIT, which excludes these one-time items, surged by 36% to $329 million, indicating strong operational performance when these extraordinary costs are set aside.</p>
<p>Similarly, the company’s <a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="noopener noreferrer nofollow" class="deco-link">Earnings Per Share (EPS) </a>on a reported basis fell to a loss of $0.01 per share from earnings of $0.57 per share in the prior year. Adjusted EPS, however, rose by 26% to $0.63, surpassing market expectations.</p>
<h3 id="campbell-reports-adj-eps-of-0-63-revenue-of-2-3-b-for-fiscal-q4">Campbell Reports Adj. EPS of $0.63, Revenue of $2.3 B for Fiscal Q4</h3>
<p>Comparing Campbell’s actual performance with market expectations reveals a positive surprise. Analysts had projected an EPS of $0.62 and revenue of $2.32 billion for the quarter. <br><br>Campbell’s adjusted EPS of $0.63 exceeded these expectations, albeit slightly, demonstrating the company’s ability to manage costs and improve profitability despite a challenging economic environment. The reported net sales of $2.3 billion were marginally below the forecast but still represented significant growth driven by strategic acquisitions.</p>
<p>The company’s gross profit increased to $675 million from $656 million, with the gross profit margin slightly declining to 29.4% from 31.7% due to higher supply chain costs and inflation. Adjusted gross profit, which excludes certain costs, improved to $719 million from $632 million, showcasing effective cost management and productivity improvements. Marketing and selling expenses decreased by 6% to $188 million, primarily due to lower advertising and consumer expenses, indicating a strategic shift in marketing spend efficiency.</p>
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<h3 id="guidance-for-fiscal-2025">Guidance for Fiscal 2025</h3>
<p>Looking ahead, Campbell provided a balanced outlook for fiscal 2025, reflecting both optimism and caution. The company anticipates net sales growth of 9% to 11%, factoring in the full-year contribution from Sovos Brands and the impact of the Pop Secret business divestiture.</p>
<p>Organic net sales are expected to be flat to up 2%, indicating modest growth in the core business. The guidance also includes a benefit from an additional 53rd week in fiscal 2025, estimated to contribute approximately 2 points of growth to both reported and organic net sales and adjusted EBIT.</p>
<p>Adjusted EBIT is projected to grow by 9% to 11%, supported by productivity improvements and cost-saving initiatives estimated at $70 million. Despite the inflationary pressures, Campbell plans to mitigate these through various levers, including supply chain efficiencies.</p>
<p>Adjusted EPS is forecasted to increase by 1% to 4%, with Sovos Brands expected to be neutral to earnings and the Pop Secret divestiture dilutive by $0.04 per share. The company also expects adjusted net interest expenses to range between $350 million and $355 million due to higher debt levels and anticipated refinancing costs.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em><br></p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/campbell-soup-reports-fiscal-q4-0-63-eps-2-3-billion-in-revenue/">Campbell Soup Reports Fiscal Q4: $0.63 EPS, $2.3 Billion in Revenue</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Campbell Soup Reports Fiscal Q4: $0.63 EPS, $2.3 Billion in Revenue

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