Campbell’s sees 6% sales increase
Campbell’s has reported an increase in its sales as it released its fourth quarter results.
The canned soup brand said net Sales and organic Net Sales increased 6% to $2.0 billion.
Earnings Before Interest and Taxes (EBIT) decreased to $170 million. Adjusted EBIT increased 5% to $269 million.
For the full year, net Sales increased 1% and organic net Sales increased 2% to $8.6 billion.
EBIT decreased to $1.2 billion. Adjusted EBIT decreased 4% to $1.3 billion.
“I’m proud of our team for delivering full-year adjusted EPS at the high end of our original fiscal year 2022 guidance range, despite the volatile environment,” said Mark Clouse, Campbell’s President and CEO.
“During fiscal 2022, we demonstrated a significant step up in execution across the company with improved supply chain performance and effective revenue management to counter inflation. Our solid foundation and momentum will serve us well in fiscal 2023 as we continue to make progress on unlocking Campbell’s full growth potential.”
Campbell’s Meals & Beverages section consists of soup, simple meals and beverage products in retail and foodservice in U.S. and Canada.
The segment includes the following products: Campbell’s condensed and ready-to-serve soups; Swanson broth and stocks; Pacific Foods broth, soups and non-dairy beverages; Prego pasta sauces; Pace Mexican sauces; Campbell’s gravies, pasta, beans and dinner sauces; Swanson canned poultry; V8 juices and beverages; and Campbell’s tomato juice.