Campbell Soup (CPB) Reports In-Line Q2 EPS, Offers Guidance
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Campbell Reports Second-Quarter Fiscal 2022 Results
March 9, 2022 7:15 AM ESTEarnings Per Share (EPS) from Continuing Operations were $0.70. Adjusted EPS decreased $0.13, or 16%, to $0.69 due to industry-wide inflation and supply constraints. Net Sales decreased 3%; Organic Net Sales decreased 2%. Compared to the second quarter of fiscal 2020, net sales increased 2% and organic net sales increased 3%. Demand remained strong with consumption up 1% compared to prior year and up 9% on a two-year basis. Year-over-year second half financial performance expected to improve as recent pricing actions will be fully reflected in market while supply and labor conditions improve. Full-year guidance reaffirmed.
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