Latest news with #Campbell'sCompany
Business Wire
11 hours ago
- Business
- Business Wire
Campbell's Mourns the Death of Long-time Board Member Mary Alice Dorrance Malone
BUSINESS WIRE)-- The Campbell's Company (NASDAQ:CPB) and the company's Board of Directors mourn Mary Alice Dorrance Malone who recently passed away at the age of 75. Malone was the longest-tenured member of Campbell's Board of Directors with 35 years of service. Malone was the granddaughter of Dr. John T. Dorrance, the inventor of condensed soup and President of the company from 1914-1930, and the daughter of John T. Dorrance Jr., a former Chair of the company from 1962-1984. She was elected to the Board in 1990 and served with distinction on many of the board's standing committees, most recently on the Governance and Compensation & Organization committees. Keith R. McLoughlin, Chair of the Board, said, 'We are deeply saddened by the passing of Mary Alice. As a descendent of the company's founder and a significant long-term shareholder, her contributions to grow and protect Campbell's legacy were immeasurable. She will be missed in our board meetings and as a friend and colleague. On behalf of my fellow board members, we extend our heartfelt condolences to her family and friends.' Malone was an entrepreneur, a private investor, and a philanthropist, having served for many years on the boards of several nonprofit organizations and actively participated in many philanthropic endeavors. Her passion and primary business were equestrian sports. She was President of Iron Spring Farm horse breeding and performance centers in Pennsylvania and Florida, which she founded in 1976. Mick Beekhuizen, Campbell's President and Chief Executive Officer, said, 'Mary Alice was a highly committed director and helped guide the company through many chapters. Her extensive knowledge of Campbell's history, organization and culture, and her love for our food and iconic brands were invaluable to management and the board. Her positive impact on the company will last for generations to come. Everyone at Campbell's offers our deepest condolences to her loved ones.' Malone is survived by two daughters. Funeral arrangements are not public. The family respectfully requests privacy during this time of mourning. The board will be considering the election of a new member. About The Campbell's Company For 155 years, The Campbell's Company (NASDAQ:CPB) has been connecting people through food they love. Headquartered in Camden, N.J. since 1869, generations of consumers have trusted Campbell's to provide delicious and affordable food and beverages. Today, the company is a North American focused brand powerhouse, generating fiscal 2024 net sales of $9.6 billion across two divisions: Meals & Beverages and Snacks. The Campbell's portfolio of 16 leadership brands includes: Campbell's, Cape Cod, Chunky, Goldfish, Kettle Brand, Lance, Late July, Pace, Pacific Foods, Pepperidge Farm, Prego, Rao's, Snack Factory pretzel crisps, Snyder's of Hanover, Swanson and V8. For more information, visit
Epoch Times
02-06-2025
- Business
- Epoch Times
Campbell's Earnings Exceed Estimates, Fueled by At-Home Cooking Trends
Budget-conscious American consumers are making more thoughtful decisions about their spending, which for some means spending more time at home, watching Netflix, and cooking their meals. After Campbell's Company reported better-than-expected earnings for the third quarter of fiscal year 2025 on June 2, CEO Mick Beekhuizen informed Wall Street analysts that the food manufacturing giant is seeing improved consumption across all consumer income groups. In particular, he noted that consumers have been cooking at home at the highest levels since early 2020, driving growth in the volume and mix of soups, broths, and sauces.
Yahoo
02-06-2025
- Business
- Yahoo
Campbell's Q3 Earnings Top Estimates, Organic Sales Up on Volume Gains
The Campbell's Company CPB reported third-quarter fiscal 2025 results, with the top and bottom lines surpassing the Zacks Consensus Estimate. Quarterly earnings declined year over year while net sales increased. Results benefited from improved in-home consumption, especially in Meals & Beverages. While Snacks showed mixed performance, the company is refining its strategy to stay competitive across all brands amid a dynamic its year-to-date performance, Campbell's is reaffirming its full-year fiscal 2025 guidance originally issued on March 5, 2025, excluding the impact of tariffs. However, adjusted EBIT and adjusted earnings per share (EPS) are now projected to be at the lower end of the guidance range, primarily due to a slower-than-expected recovery in the Snacks segment. The tariff outlook remains uncertain amid ongoing legal challenges. The Campbell's Company price-consensus-eps-surprise-chart | The Campbell's Company Quote Adjusted earnings were 73 cents, down 3% year over year, due to increased adjusted net interest expenses, partly made up by higher adjusted earnings before interest and taxes (EBIT). However, the bottom line beat the Zacks Consensus Estimate of 65 cents. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)Net sales of $2,475 million grew 4% year over year while surpassing the Zacks Consensus Estimate of $2,437.3 million. The year-over-year increase in the top line stemmed from the benefit of the Sovos Brands acquisition. Organic net sales rose 1%, mainly due to a 2% positive volume/mix impact, somewhat offset by planned lower net company's adjusted gross profit rose to $745 million from $740 million, while the adjusted gross profit margin declined 110 basis points (bps) to 30.1%. The margin decrease was primarily due to cost inflation, supply-chain expenses, unfavorable net pricing and acquisition-related impacts. These were somewhat mitigated by supply-chain productivity gains, cost-saving initiatives and favorable volume/ marketing and selling expenses rose 5% to $207 million, primarily due to the impact of the recent acquisition. In contrast, adjusted administrative expenses declined 4% to $150 million, mainly reflecting benefits from cost-saving initiatives. This decrease was partially offset by higher general administrative costs, inflationary pressures and acquisition-related expenses. The adjusted EBIT increased 2% to $362 million. Meals & Beverages: Net sales reached $1,463 million, up 15% year over year, driven by the acquisition. Excluding the effects of the acquisition and the noosa divestiture, organic net sales grew 6%, driven by strong performance in U.S. soup, Rao's pasta sauces and the Canada market, partially aided by favorable shipment timing. A 7% increase in volume/mix contributed to growth, partially offset by a 1% decline in net price realization. U.S. soup sales rose across key categories, including condensed soups, broth and ready-to-serve soups. Segment operating earnings rose 8%.Snacks: Net sales totaled $1,012 million, down 8% year over year. Excluding the impact of the Pop Secret divestiture, organic net sales were down 5%, primarily due to decreased sales of Goldfish crackers, third-party partner and contract brands, Snyder's of Hanover pretzels, Late July snacks and Lance sandwich crackers. The decline was caused by a 5% drop in volume/mix, with net price realization remaining flat. Segment operating earnings fell 13%. As of the end of the reported quarter, Campbell's had cash and cash equivalents of $143 million and a total debt of $6,896 million. The company generated $872 million in net cash from operating activities for the nine months ended April 27, 2025. Capital expenditures were $296 million in the said paid $343 million in cash dividends and repurchased nearly $60 million during the period. As of the end of the fiscal third quarter, the company had approximately $200 million remaining under its anti-dilutive share repurchase program and $301 million under the September 2021 strategic share repurchase of the end of the fiscal third quarter, Campbell's generated almost $110 million in savings under its cost savings program of $250 million announced in September 2024. Image Source: Zacks Investment Research The company forecasts fiscal 2025 net sales growth of 6-8%. Organic net sales are expected to range from a 2% decline to flat year over year. Adjusted EBIT is estimated to grow 3-5%. The adjusted EPS is expected to decline 4-1%, in the range of $2.95-$3.05 compared with $3.08 reported in fiscal the current tariff actions remain in effect, Campbell's estimates an additional headwind of three-five cents per share to its fiscal 2025 adjusted EPS. This potential impact is not included in the company's fiscal 2025 guidance, given the rapidly evolving tariff and trade of this Zacks Rank #3 (Hold) company have lost 17.6% in the past three months compared with the industry's decline of 4.8%. Nomad Foods Limited NOMD manufactures, markets and distributes a range of frozen food products in the United Kingdom and internationally. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks Zacks Consensus Estimate for Nomad Foods' current fiscal-year sales and earnings implies growth of 4.6% and 7.3%, respectively, from the prior-year levels. NOMD delivered a trailing four-quarter earnings surprise of 3.2%, on S.A. BRFS raises, produces and slaughters poultry and pork for the processing, production and sale of fresh meat, processed products, pasta, margarine, pet food and other products. It currently carries a Zacks Rank #2 (Buy). BRFS delivered a trailing four-quarter earnings surprise of 5.4%, on Zacks Consensus Estimate for BRF S.A.'s current fiscal-year sales and earnings implies growth of 0.3% and 11.1%, respectively, from the prior-year Group AB OTLY, an oatmilk company, provides a range of plant-based dairy products made from oats. It presently carries a Zacks Rank of 2. OTLY delivered a trailing four-quarter earnings surprise of 25.1%, on consensus estimate for Oatly Group's current fiscal-year sales and earnings implies growth of 2.7% and 65.8%, respectively, from the year-ago figures. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Campbell's Company (CPB) : Free Stock Analysis Report BRF S.A. (BRFS) : Free Stock Analysis Report Nomad Foods Limited (NOMD) : Free Stock Analysis Report Oatly Group AB Sponsored ADR (OTLY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
02-06-2025
- Business
- Yahoo
Campbell's earnings: Shipment timing gave big boost to snack brand
The Campbell's Company (CPB) — the food brand known for its various canned soups and snacks — posted its fiscal third quarter earnings results Monday morning, topping Wall Street estimates on the top and bottom line. BofA Securities Food & Beverage Analyst Peter Galbo — who has an Underperform rating and a $37 per share price target on Campbell's stock — comes on The Morning Brief to talk more about Campbell's product pricing and the state of the US consumer. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
Yahoo
02-06-2025
- Business
- Yahoo
Campbell's Tops Estimates, Warns of Profit Hit Due to Tariffs
The Campbell's Company on Monday reported fiscal third-quarter results that topped estimates, but warned that its full-year profit would likely come in at the low end of its previous forecast. CEO Mick Beekhuizen said the company is seeing Americans cooking at home at the highest levels since early 2020, boosting its Meals & Beverages division. The company affirmed its full-year outlook but cautioned that adjusted EPS is likely to come in the low end of that range "due to the slower than anticipated recovery in the Snacks business."The Campbell's Company (CPB) on Monday reported fiscal third-quarter results that topped estimates, but warned that its full-year profit would likely come in at the low end of its previous forecast. The soup maker, which dropped "Soup" from its corporate name last year, reported adjusted earnings per share (EPS) of $0.73 on net sales of $2.48 billion, both above Visible Alpha consensus projections. Sales at its Meals & Beverages segment led by its namesake soups and Rao's pasta sauce topped estimates at $1.46 billion, but those at its Snacks unit—which includes Goldfish crackers and Snyder's of Hanover pretzels—narrowly missed analysts' forecasts at $1.01 billion. CEO Mick Beekhuizen said the company is seeing Americans cooking at home at the highest levels since early 2020, boosting its Meals & Beverages division. However, Beekhuizen—who took over on Feb. 1 after Campbell's last CEO left for an NFL job—said snacks performance was more "mixed," adding the company is "adjusting our plans to make sure we're competitive across our full brand portfolio." The company affirmed its full-year outlook of 6% to 8% sales growth and adjusted EPS of $2.95 to $3.05, a decline from $3.08 in fiscal 2024. However, Campbell's cautioned that adjusted EPS is likely to come in the low end of that range "due to the slower than anticipated recovery in the Snacks business," and said it doesn't include a potential headwind of 3 cents to 5 cents from tariffs. Campbell's shares were up less than 1% soon before markets opened Monday. They entered the day down nearly 20% since the start of the year. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
