Business
Campbell's Reports First-Quarter Fiscal 2025 Results; Reaffirms Full-Year Fiscal 2025 Guidance and Increases Quarterly Dividend
Board of Directors Elects Mick Beekhuizen President and Chief Executive Officer; Mark Clouse Announces Plans to Retire Net Sales increased 10% to $2.8
About this update from The Campbell's Company
[{"type":"text","content":"\nBoard of Directors Elects Mick Beekhuizen President and Chief Executive Officer; Mark Clouse Announces Plans to Retire\n\n\n\nNet Sales increased 10% to $2.8 billion and decreased 1% on an organic basis.\n\n\n\nEarnings Before Interest and Taxes (EBIT) were $367 million. Adjusted EBIT increased 6% to $432 million including the impact of the Sovos Brands, Inc. (Sovos Brands) acquisition.\n\n\n\nEarnings Per Share (EPS) were $0.72. Adjusted EPS decreased 2% to $0.89.\n\n\n\nIncreases quarterly dividend by 5% to $0.39 per share.\n\n\n\nReaffirms full-year fiscal 2025 guidance.\n\n\n\n CAMDEN, N.J.--(BUSINESS WIRE)--\nThe Campbell's Company (NASDAQ:CPB) today reported results for its first-quarter fiscal 2025 ended October 27, 2024.\n\n\nCEO Comments\nMark Clouse, Campbell’s President and CEO, said, \"Our first-quarter results were largely aligned with our expectations. While navigating this dynamic consumer environment and uneven pace of category recovery, we remain agile, focusing on balancing investments and earnings to meet our commitments for this year and the long term. Our first quarter reflected our successful efforts to achieve that goal, as do our plans for the second quarter, which include the critical holiday season where we expect both top line and market share sequential improvement. We are maintaining our full-year guidance, with the upcoming second quarter being an important indicator of progress in meeting our expectations.” Clouse continued: “In addition, the Board of Directors approved a 5% increase in our quarterly dividend, showcasing our strong earnings, cash flow and confidence in our long-term growth potential.”\n\n\n\n\n \n\n\n\n\n\n\nThree Months Ended\n\n\n\n\n\n\n\n\n($ in millions, except per share)\n\n\n\n\n\n\nOctober 27, 2024\n\n\n\n\n\n\n \n\n\n\n\n\n\nOctober 29, 2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n% Change\n\n\n\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\nAs Reported (GAAP)\n\n\n\n\n\n\n$2,772\n\n\n\n\n\n\n \n\n\n\n\n\n\n$2,518\n\n\n\n\n\n\n \n\n\n\n\n\n\n10%\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 \n\n\n\n\n\n\n \n\n\n\n\n\n\n(1)%\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\nAs Reported (GAAP)\n\n\...