Campbell Soup Company (CPB) – Campbell Soup Manages Q4 Top-Line Beat; Notes Margin Pressure

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  • Campbell Soup Co CPB reported fourth-quarter FY22 sales growth of 6% year-on-year to $1.99 billion, beating the consensus of $1.98 billion.
  • Net sales from the Meals & Beverages segment rose 6%, and the Snacks segment climbed 6%.
  • Gross margin contracted 260 basis points Y/Y to 28.7%. Adjusted EBIT of $269 million increased 5% Y/Y.
  • Total costs and expenses increased 24.3% to $1.8 billion.
  • Adjusted EPS of $0.56 was in line with the analyst consensus.
  • The company held $109 million in cash and equivalents as of July 31, 2022. Cash provided by operating activities for twelve months totaled $1.2 billion.
  • Campbell said it remains on track to deliver savings of $1 billion by the end of fiscal 2025.
  • Outlook: Campbell sees FY23 EPS of $2.85 – $2.95 versus the consensus of $2.92.
  • The company expects FY23 sales growth of 4% – 6%.
  • Price Action: CPB shares are trading lower by 2.77% at $48.98 on the last check Thursday.
  • Photo Via Company

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Image and article originally from www.benzinga.com. Read the original article here.