Business
Campbell Reports Third-Quarter Fiscal 2021 Results
Net Sales decreased 11% as a result of lapping the demand surge at the onset of the pandemic in the prior year. Earnings Before Interest and Taxes (EBIT) was
About this update from The Campbell's Company
[{"type":"text","content":"\n\nNet Sales decreased 11% as a result of lapping the demand surge at the onset of the pandemic in the prior year.\n\n\nEarnings Before Interest and Taxes (EBIT) was $272 million, comparable to prior year. Adjusted EBIT decreased 27% to $283 million.\n\n\nEarnings Per Share (EPS) from Continuing Operations decreased 2% to $0.54. Adjusted EPS decreased 31% to $0.57.\n\n\nNearly 75% of brand portfolio grew or held share highlighting strong brand health and continued momentum.\n\n\nUpdates full-year fiscal 2021 guidance.\n\n\n CAMDEN, N.J.--(BUSINESS WIRE)--\nCampbell Soup Company (NYSE:CPB) today reported results for its third-quarter fiscal 2021 ended May 2, 2021.\n\n\n\nContinuing Operations\n\n\n \n\nThree Months Ended\n\n\n\n \n\n\n\nNine Months Ended\n\n\n\n\n\n($ in millions, except per share)\n\n\n \n\nMay 2, 2021\n\n\n\n \n\n\n\nApr. 26, 2020\n\n\n\n \n\n\n\n% Change\n\n\n\n \n\n\n\nMay 2, 2021\n\n\n\n \n\n\n\nApr. 26, 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$1,984\n\n\n\n \n\n\n\n$2,238\n\n\n\n \n\n\n\n(11)%\n\n\n\n \n\n\n\n$6,603\n\n\n\n \n\n\n\n$6,583\n\n\n\n \n\n\n\n—%\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(12)%\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n1%\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$272\n\n\n\n \n\n\n\n$273\n\n\n\n \n\n\n\n—%\n\n\n\n \n\n\n\n$1,134\n\n\n\n \n\n\n\n$940\n\n\n\n \n\n\n\n21%\n\n\n\n\n\nAdjusted\n\n\n \n\n$283\n\n\n\n \n\n\n\n$386\n\n\n\n \n\n\n\n(27)%\n\n\n\n \n\n\n\n$1,139\n\n\n\n \n\n\n\n$1,142\n\n\n\n \n\n\n\n—%\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\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$0.54\n\n\n\n \n\n\n\n$0.55\n\n\n\n \n\n\n\n(2)%\n\n\n\n \n\n\n\n$2.36\n\n\n\n \n\n\n\n$1.66\n\n\n\n \n\n\n\n42%\n\n\n\n\n\nAdjusted\n\n\n \n\n$0.57\n\n\n\n \n\n\n\n$0.83\n\n\n\n \n\n\n\n(31)%\n\n\n\n \n\n\n\n$2.43\n\n\n\n \n\n\n\n$2.34\n\n\n\n \n\n\n\n4%\n\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...