NEW YORK - Campbell Soup Company (NYSE:CPB) reported first-quarter fiscal 2025 results that largely met expectations, but shares dipped 1.74% as organic revenue growth fell short of analyst estimates.
The food products company posted adjusted earnings per share of $0.89, edging past the consensus estimate of $0.88. Net sales rose 10% year-over-year to $2.8 billion, in line with analyst projections. However, organic net sales, which exclude the impact of acquisitions and divestitures, declined 1% compared to the prior year period.
Campbell's Meals & Beverages segment saw net sales jump 22% to $1.71 billion, driven primarily by the acquisition of Sovos Brands. The Snacks segment revenue fell 4% to $1.07 billion, impacted by the divestiture of the Pop Secret popcorn business.
"Our first-quarter results were largely aligned with our expectations," said Mark Clouse, Campbell's President and CEO. "While navigating this dynamic consumer environment and uneven pace of category recovery, we remain agile, focusing on balancing investments and earnings to meet our commitments for this year and the long term."
The company reaffirmed its full-year fiscal 2025 guidance, projecting net sales growth of 9% to 11% and adjusted earnings per share between $3.12 and $3.22.
Campbell also announced a 5% increase in its quarterly dividend to $0.39 per share, citing strong earnings, cash flow and confidence in long-term growth potential.
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