Business
Campbell Reports Fourth-Quarter and Full-Year Fiscal 2021 Results; Provides Full-Year Fiscal 2022 Guidance
For the fourth quarter: Net Sales decreased 11%. Organic Net Sales decreased 4% cycling elevated demand and partial retailer inventory recovery in the prior
About this update from The Campbell's Company
[{"type":"text","content":"\nFor the fourth quarter:\n\n\nNet Sales decreased 11%. Organic Net Sales decreased 4% cycling elevated demand and partial retailer inventory recovery in the prior year.\n\n\nEarnings Per Share (EPS) from Continuing Operations were $0.95. Adjusted EPS decreased $0.08, or 13%, to $0.55, of which approximately $0.04 reflected the additional week in fiscal 2020.\n\n\nFor the full year:\n\n\nNet Sales decreased 2% and Organic Net Sales were comparable to prior year.\n\n\nEPS from Continuing Operations were $3.30. Adjusted EPS increased 1% to $2.98.\n\n\n75% of brand portfolio grew or held share demonstrating strong underlying brand health and momentum.\n\n\nCompany plans to hold an Investor Day on December 14, 2021.\n\n\n CAMDEN, N.J.--(BUSINESS WIRE)--\nCampbell Soup Company (NYSE:CPB) today reported results for its fourth-quarter and full-year fiscal 2021. The fourth quarter and full year of fiscal 2020 contained one additional week which was estimated to be 7 percentage points and 2 percentage points in net sales, respectively, and approximately $0.04 in adjusted earnings per share.\n\n\n\nContinuing Operations\n\n\n \n\nThree Months Ended\n\n\n\n \n\n\n\nTwelve Months Ended\n\n\n\n\n\n($ in millions, except per share)\n\n\n \n\nAug. 1, 2021\n\n\n\n \n\n\n\nAug. 2, 2020\n\n\n\n \n\n\n\n% Change\n\n\n\n \n\n\n\nAug. 1, 2021\n\n\n\n \n\n\n\nAug. 2, 2020\n\n\n\n \n\n\n\n% Change\n\n\n\n\n\nNet Sales\n\n\n \n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nAs Reported (GAAP)\n\n\n \n\n$1,873\n\n\n\n \n\n\n\n$2,108\n\n\n\n \n\n\n\n(11)%\n\n\n\n \n\n\n\n$8,476\n\n\n\n \n\n\n\n$8,691\n\n\n\n \n\n\n\n(2)%\n\n\n\n\n\nOrganic\n\n\n \n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n(4)%\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n—%\n\n\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nEarnings Before Interest and Taxes (EBIT)\n\n\n \n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nAs Reported (GAAP)\n\n\n \n\n$411\n\n\n\n \n\n\n\n$167\n\n\n\n \n\n\n\n146%\n\n\n\n \n\n\n\n$1,545\n\n\n\n \n\n\n\n$1,107\n\n\n\n \n\n\n\n40%\n\n\n\n\n\nAdjusted\n\n\n \n\n$267\n\n\n\n \n\n\n\n$307\n\n\n\n \n\n\n\n(13)%\n\n\n\n \n\n\n\n$1,406\n\n\n\n \n\n\n\n$1,449\n\n\n\n \n\n\n\n(3)%\n\n\n...