The Campbell's Company · NASDAQ:CPB
The Campbell's — Campbell Soup — Q1 2009 Earnings Presentation
18 slides from The Campbell's's earnings presentation, Dec 9, 2008
Slide 1: Welcome! Mandarin Oriental Hotel December 9, 2008
Welcome! Mandarin Oriental Hotel December 9, 2008 Exhibit 99.1
Slide 2: Agenda
Agenda 4:00 pm - 5:00 pm Doug Conant - President and Chief Executive Officer Craig Owens - Chief Financial Officer and Chief Administrative Officer Q&A 5:00 pm - 6:00 pm Reception
Slide 3: Forward-looking statements
This presentation contains "forward-looking statements" that reflect the company's current expectations about its future plans and performance, including its fiscal 2009 guidance. These forward-looking statements rely on a number of assumptions and estimates that could be inaccurate and which are su
Slide 4: Non-GAAP measures
This presentation may include certain "non-GAAP" measures as defined by SEC rules. As required by the SEC, the company has provided the most directly comparable GAAP measure and a reconciliation of the "non-GAAP" measures to the most directly comparable GAAP measure on its website at www.campbellsou
Slide 5: Doug Conant: Welcome, Purpose of meeting
Doug Conant Welcome Purpose of meeting Introduce Craig Owens offer added perspective on business performance
Slide 6: Craig Owens: My early assessment of Campbell Soup
Craig Owens My early assessment of Campbell Soup Q1 results for soup
Slide 7: Craig Owens: My early assessment of Campbell Soup
Craig Owens My early assessment of Campbell Soup Q1 results for soup
Slide 8: Early Assessment
Early Assessment Strong company - well-positioned for current economic storm Talented and deep management
Slide 9: Early Focus
Early Focus Extraordinary external circumstances Business Support Platform Company Wide Efficiency Emerging Markets
Slide 10: Craig Owens: Q1 results for soup
Craig Owens My early assessment of Campbell Soup Q1 results for soup
Slide 11: Q1 Reported Results
Q1 Reported Results 2009 2008 % chg Sales-cont. Ops $2,250 $2,185 3% Operating Earnings 446 456 (2)% EBIT 399 428 (7)% Earnings-cont. Ops 260 268 (3)% Net Earnings 260 270 (4)% Diluted EPS $.71 $.70 1%
Slide 12: Q1 U.S. Soup, Sauces & Beverages Segment
Q1 U.S. Soup, Sauces & Beverages Segment Sales Operating Earnings Operating Margin Fiscal 2008 $1,097 309 28.2% Fiscal 2009 1,198 314 26.2% +9% +2% (2.0) pts Soup Sales Condensed RTS Broth +12% +14% +7% +23%
Slide 13: Operating Margin Drivers
Operating Margin Drivers Operating Margin Fiscal 2008 Q1 Gross Margin & Mktg Exp SG&A Expenses 28.2% (2.3) pts 0.3 pts Fiscal 2009 Q1 26.2 Q1 U.S. Soup, Sauces & Beverages Segment
Slide 14: 1H U.S. Soup, Sauces & Beverages Segment
1H U.S. Soup, Sauces & Beverages Segment Sales Operating Earnings Operating Earnings Operating Margin Fiscal 2008 $2,190 584 584 26.6% Operating Margin Drivers: Operating Margin Drivers: Operating Margin Drivers: Operating Margin Drivers: Fiscal 2008 Gross Margin & Mktg Expenses SG&A Expenses Fiscal
Slide 15: Q1 Consolidated Results
Q1 Consolidated Results 2009 2008 % chg Sales-cont. Ops $2,250 $2,185 3% Operating Earnings 446 456 (2)% EBIT 399 428 (7)% Earnings-cont. Ops 260 268 (3)% Net Earnings 260 270 (4)% Diluted EPS $.71 $.70 1% Adjusted Diluted EPS $.77 $.70 10% 2009 Adjusted Diluted EPS First Half ~ approximately flat
Slide 16: Why We Are Optimistic About FY'09
Why We Are Optimistic About FY'09 Organic EPS will improve in the back half of the year because: We will reap the benefit from pricing actions taken in September ’08 across USSSB Our cost savings programs accelerate in back half of year Inflation on our cost base moderates as we go through the year
Slide 17: Doug Conant: Wrap-up, Video and Q&A
Doug Conant Wrap-up Video and Q&A
Slide 18: Campbell
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