Evaluate the expected performance of Campbell (CPB) for the quarter ended July 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
Campbell (CPB) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Campbell Soup Company has risen almost 14% in price since January, following the acquisition of Sovos Brands for $2.7 billion. The acquisition makes Campbell Soup a major player in the sauce market, strengthening its brand presence and potentially saving $50 million over the next two years. Despite increased debt from the acquisition, Campbell Soup trades at a justifiable premium price/book value of 3.73, with steady earnings and growth expected.
Food stocks got a big boost on Aug. 14 when the speculation privately held Mars was in serious negotiations to buy Kellanova (NYSE: K ), the owners of Eggo, Cheez-It and many other food brands, turned into confirmation. Mars will pay $36 billion, or $83.50 a share, a 33% premium to Kellanova's Aug. 2 closing price, the day before Reuters first reported the potential tie-up.
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Campbell Soup's (CPB) Snacks division, anchored by robust power brands, remains solid despite temporary pressures. The acquisition of Sovos Brands has also proven fruitful.
Global food and beverage company Campbell Soup Co. NYSE: CPB reported solid earnings accompanied by raised guidance, but the market continued to sell off shares. However, clues were sprinkled throughout its earnings presentation that indicate a return of growth acceleration is coming in the second half of the calendar year.
CNBC's Jim Cramer on Friday told investors which packaged food stocks might be good additions to their portfolios, especially if the economy is headed for a slowdown. He pinpointed Campbell Soup and J.M.
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Campbell Soup (CPB) reported third-quarter revenue that beat analysts' estimates on the strength of its food and beverage sales, though the food giant's snack sales dropped as economic pressures affect consumers' habits.
Campbell Soup's (CPB) third-quarter fiscal 2024 results reflect gains from the Sovos Brands acquisition, supply chain productivity and cost savings, while organic sales remain flat year over year.
Campbell Soup Company (NYSE:CPB ) Q3 2024 Earnings Call Transcript June 5, 2024 8:00 AM ET Company Participants Rebecca Gardy - Chief IR Officer Mark Clouse - CEO Carrie Anderson - CFO Conference Call Participants Andrew Lazar - Barclays Jim Salera - Stephens David Palmer - Evercore ISI Peter Galbo - Bank of America Nik Modi - RBC Capital Markets Operator Greetings, ladies and gentlemen, and welcome to the Campbell Soup Company Third Quarter Fiscal 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.