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Campbell Soup Issues FY24 Guidance

August 31, 2023 — 07:42 am EDT

Written by RTTNews.com for RTTNews

(RTTNews) - Campbell Soup Company (CPB) said, for fiscal 2024, the company projects adjusted earnings per share in a range of $3.09 to $3.15, an increase of 3% to 5% from prior year. Organic net sales are projected to be flat to an increase of 2%.

Fourth quarter bottom line totaled $169 million, or $0.57 per share compared with $96 million, or $0.32 per share, prior year. Excluding items, Campbell Soup reported adjusted earnings of $150 million or $0.50 per share for the period. Analysts on average had expected the company to earn $0.50 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. Revenue for the quarter rose 4.0% to $2.07 billion from $1.99 billion last year. Organic net sales increased 5%.

Shares of Campbell Soup are up 1% in pre-market trade on Thursday.

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