Campbell Soup Co.

NYSE:CPB   3:57:25 PM EDT
43.21
-0.31 (-0.71%)
Other Pre-Announcement

Campbell Reports Fourth-Quarter And Full-Year Fiscal 2021 Results Provides Full-Year Fiscal 2022 Guidance

Published: 09/01/2021 11:35 GMT
Campbell Soup Co. (CPB) - Campbell Reports Fourth-quarter and Full-year Fiscal 2021 Results; Provides Full-year Fiscal 2022 Guidance.
Q4 Earnings per Share $0.95 From Continuing Operations.
Q4 Earnings per Share Estimate $0.48 -- Refinitiv Ibes Data (analyst estimates).
Q4 Revenue $1.87 Billion Versus Refinitiv Ibes Estimate of $1.81 Billion.
Board of Directors Approved a $500 Million Strategic Share Repurchase Program.
Program Has No Expiration Date and is in Addition to the $250 Million Anti-dilutive Share Repurchase Program.
Sees FY2022 Adjusted EPS $2.75 to $2.85.
$500 Million Strategic Share Repurchase Program Replaces the Suspended $1.5 Billion Program.
Expects to Fund the Repurchases Out of Its Existing Cash Flow Generation.
Campbell Soup Qtrly Organic Net Sales, Which Exclude Impact From Additional Week, Impact From Sale of Plum Baby Food & Snacks Business, Down 4%.
Remains on Track to Deliver Annualized Savings of $850 Million by the End of Fiscal 2022.
Sees FY2022 Organic Net Sales Down 1% to Up 1%.
Expects Q1 to Be the Most Challenging As Co Continues to Cycle the Elevated Sales and Scale Efficiency From a Year Ago.
Qtrly Adjusted Earnings per Share From Continuing Operations $0.55.
Campbell Soup - Sees FY2022 Net Sales Down 2% to Flat.
First Half FY2022 Margins Will Continue to Be Impacted by Transitional Headwinds.
Campbell Soup - for FY2022, Sees Core Inflation of High Single Digits for Year With More Pronounced Impact in Second Half.