- Campbell Soup Co.
- 05 March 2025 16:13:03
Source: Sharecast
The company, known for its eponymous canned soup brand along with other household names like Kettle chips, Lance and Swanson, said net sales were up 9% at $2.7bn in the three months to 26 January, but were down 2% on an organic basis.
The organic decline in the meals and beverages division was 1%, but 3% in the snacks business segment.
Adjusted earnings before interest and tax improved 2% year-on-year in the second quarter to $372m, but adjusted diluted earnings per share dropped 8% to $0.74.
"Given the softness in some of our snacking categories, the anticipated sequential top-line improvement did not materialise during the quarter, and we now have a more muted second half expectation," said chief executive and president Mick Beekhuizen.
"As a result, we are updating our full-year guidance," he said.
For the year ending July 2025, Campbell's is now expecting organic net sales to be flat to down 2%, compared with previous guidance of growth of up to 2%.
The company also pointed to adjusted EPS of between $2.95 to $3.05, down 1-4% on last year and below earlier guidance of $3.12 to $3.22.
Shares were 3.3% lower at $39.02 by 1111 ET.
