Business
Campbell Reports Second-Quarter Fiscal 2022 Results
Earnings Per Share (EPS) from Continuing Operations were $0.70. Adjusted EPS decreased $0.13, or 16%, to $0.69 due to industry-wide inflation and supply
About this update from The Campbell's Company
[{"type":"text","content":"\n\nEarnings Per Share (EPS) from Continuing Operations were $0.70. Adjusted EPS decreased $0.13, or 16%, to $0.69 due to industry-wide inflation and supply constraints.\n\n\nNet Sales decreased 3%; Organic Net Sales decreased 2%. Compared to the second quarter of fiscal 2020, net sales increased 2% and organic net sales increased 3%. Demand remained strong with consumption up 1% compared to prior year and up 9% on a two-year basis.\n\n\nYear-over-year second half financial performance expected to improve as recent pricing actions will be fully reflected in market while supply and labor conditions improve.\n\n\nFull-year guidance reaffirmed.\n\n\n CAMDEN, N.J.--(BUSINESS WIRE)--\nCampbell Soup Company (NYSE:CPB) today reported results for its second-quarter fiscal 2022.\n\n\n\nContinuing Operations\n\n\n\nThree Months Ended\n\n\n\n \n\n\n\nSix Months Ended\n\n\n\n\n\n($ in millions, except per share)\n\n\n\nJan. 30, 2022\n\n\n\n \n\n\n\nJan. 31, 2021\n\n\n\n \n\n\n\n% Change\n\n\n\n \n\n\n\nJan. 30, 2022\n\n\n\n \n\n\n\nJan. 31, 2021\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\nAs Reported (GAAP)\n\n\n\n$2,209\n\n\n\n \n\n\n\n$2,279\n\n\n\n \n\n\n\n(3)%\n\n\n\n \n\n\n\n$4,445\n\n\n\n \n\n\n\n$4,619\n\n\n\n \n\n\n\n(4)%\n\n\n\n\n\nOrganic\n\n\n\n\n \n\n\n\n\n \n\n\n\n(2)%\n\n\n\n \n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n(3)%\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\nAs Reported (GAAP)\n\n\n\n$323\n\n\n\n \n\n\n\n$401\n\n\n\n \n\n\n\n(19)%\n\n\n\n \n\n\n\n$699\n\n\n\n \n\n\n\n$862\n\n\n\n \n\n\n\n(19)%\n\n\n\n\n\nAdjusted\n\n\n\n$318\n\n\n\n \n\n\n\n$382\n\n\n\n \n\n\n\n(17)%\n\n\n\n \n\n\n\n$707\n\n\n\n \n\n\n\n$839\n\n\n\n \n\n\n\n(16)%\n\n\n\n\n\nDiluted Earnings Per Share\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$0.70\n\n\n\n \n\n\n\n$0.80\n\n\n\n \n\n\n\n(13)%\n\n\n\n \n\n\n\n$1.56\n\n\n\n \n\n\n\n$1.82\n\n\n\n \n\n\n\n(14)%\n\n\n\n\n\nAdjusted\n\n\n\n$0.69\n\n\n\n \n\n\n\n$0.82\n\n\n\n \n\n\n\n(16)%\n\n\n\n \n\n\n\n$1.58\n\n\n\n \n\n\n\n$1.82\n\n\n\n \n\n\n\n(13)%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\n\nNote: A detailed reconciliation of the reported (GAAP) financial information to the adjusted financial information is included at ...