Campbell's: reduces annual targets
(CercleFinance.com) - On Wednesday Campbell's cut its guidance for FY 2024/2025, due to the changing consumer environment and the recent divestment of its noosa yogurt brand, causing its stock to fall in pre-market trading on Wall Street (pmt -4.
7%).
The American food group now expects annual net sales growth of 6% to 8%, compared with its previous range of 9% to 11%.
It also says it is targeting adjusted EPS of $2.95 to $3.05 for the year ending July (instead of $3.12 to $3.22): analysts were expecting EPS of $3.12.
In Q2 to end-January, Campbell's net sales rose by 9% to $2.7bn, but its business declined by 2% on an organic basis, due to the weakness of some of its snack brands, such as Goldfish cookies and Hanover pretzels.
Adjusted EBIT rose by 2% to $372m in the quarter, although this figure includes the effect of the acquisition of the Sovos Brands grocery brand.
Adjusted quarterly EPS, meanwhile, fell by 8% to $0.74.
Copyright (c) 2025 CercleFinance.com. All rights reserved.
7%).
The American food group now expects annual net sales growth of 6% to 8%, compared with its previous range of 9% to 11%.
It also says it is targeting adjusted EPS of $2.95 to $3.05 for the year ending July (instead of $3.12 to $3.22): analysts were expecting EPS of $3.12.
In Q2 to end-January, Campbell's net sales rose by 9% to $2.7bn, but its business declined by 2% on an organic basis, due to the weakness of some of its snack brands, such as Goldfish cookies and Hanover pretzels.
Adjusted EBIT rose by 2% to $372m in the quarter, although this figure includes the effect of the acquisition of the Sovos Brands grocery brand.
Adjusted quarterly EPS, meanwhile, fell by 8% to $0.74.
Copyright (c) 2025 CercleFinance.com. All rights reserved.