NASDAQ$CPB
Campbell Soup Co · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Campbell Soup's first quarter results were reported, showing a decrease in net sales and adjusted EPS, while reaffirming full-year fiscal 2024 guidance.
Campbell Soup Company reported first-quarter fiscal 2024 results, with net sales decreasing by 2% and organic net sales decreasing by 1%. Adjusted EPS decreased by 11%. The company reaffirmed its full-year fiscal 2024 guidance and expects the acquisition of Sovos Brands to close in calendar year 2024.
- Net sales decreased by 2%, with organic net sales down 1%.
- Adjusted EBIT decreased by 9%.
- Adjusted EPS decreased by 11%.
- Full-year fiscal 2024 guidance was reaffirmed.
Headline financials
Revenue & EPS history
Campbell Soup · Revenue · Quarterly
$2.52B
Revenue by segment
Campbell Soup · $2.52B total across 2 segments · Q1 2024
- Meals & Beverages$1.4B-3.5%55.8%
- Snacks$1.11B-0.5%44.2%
Forward guidance
Campbell reaffirmed its full-year fiscal 2024 guidance. Net sales are expected to reflect volume declines in the first half of fiscal 2024 with sequential improvement leading to positive volume trends in the second half. The company continues to expect modest earnings and margin progress in fiscal 2024, weighted to the second half, reflecting a moderating inflationary environment and on-going productivity improvements.
Tailwinds
- Net sales for the full year are expected to reflect volume declines in the first half of fiscal 2024 with sequential improvement leading to positive volume trends in the second half.
- Net sales growth will reflect lower contribution from pricing and disciplined levels of promotion.
- The company continues to expect modest earnings and margin progress in fiscal 2024, weighted to the second half, reflecting a moderating inflationary environment
- On-going productivity improvements
- Reaffirming full-year fiscal 2024 guidance
Headwinds
- Volume declines in the first half of fiscal 2024
- Lower contribution from pricing
- Disciplined levels of promotion
- Moderating inflationary environment
- Modest earnings and margin progress
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
-0.9%
Avg return
Earnings day
-1.0%
Avg return
5 days after
-1.2%
Avg return
30 days after
38%
27 / 72 earnings
Positive
+12.9%
Q3 2019
Best reaction
-14.4%
Q3 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | -2.0% | +5.1% | — | |
| Q2 2026 | -7.0% | -13.3% | -17.2% | |
| Q1 2026 | -5.2% | -4.3% | -11.9% | |
| Q4 2025 | +7.3% | +7.8% | +1.6% | |
| Q3 2025 | -2.0% | -5.3% | -8.3% | |
| Q2 2025 | -2.9% | +4.2% | -3.8% | |
| Q1 2025 | -7.7% | -7.6% | -9.1% | |
| Q4 2024 | -0.9% | +2.4% | -1.6% | |
| Q3 2024 | -1.5% | -3.9% | +2.1% | |
| Q2 2024 | -2.0% | +0.1% | +0.8% | |
| Q1 2024 | +7.6% | +8.6% | +8.0% | |
| Q4 2023 | -2.6% | -1.8% | -2.1% | |
| Q3 2023 | -7.6% | -9.1% | -10.0% | |
| Q2 2023 | +0.4% | +2.2% | +6.4% | |
| Q1 2023 | +7.7% | +7.4% | +7.6% | |
| Q4 2022 | -2.5% | -3.1% | -6.5% | |
| Q3 2022 | +0.9% | -1.6% | +4.2% | |
| Q2 2022 | -1.0% | +1.2% | +7.5% | |
| Q1 2022 | +2.6% | +6.2% | +11.5% | |
| Q4 2021 | +2.6% | +3.2% | -0.5% | |
| Q3 2021 | -6.9% | -6.7% | -7.1% | |
| Q2 2021 | +1.1% | +1.4% | +2.4% | |
| Q1 2021 | -2.0% | -3.2% | -2.9% | |
| Q4 2020 | -9.3% | -13.8% | -6.9% | |
| Q3 2020 | -6.2% | -4.1% | -5.2% | |
| Q2 2020 | +10.9% | +4.8% | +3.4% | |
| Q1 2020 | +0.1% | +1.4% | +1.8% | |
| Q4 2019 | +4.9% | +4.1% | +8.2% | |
| Q3 2019 | +12.9% | +10.2% | +9.1% | |
| Q2 2019 | +9.5% | +9.4% | +15.9% | |
| Q1 2019 | +2.8% | +5.4% | -2.0% | |
| Q4 2018 | -1.4% | -0.8% | -8.4% | |
| Q3 2018 | -14.4% | -12.6% | -5.4% | |
| Q2 2018 | -3.4% | -10.1% | -8.6% | |
| Q1 2018 | -6.3% | -7.8% | -2.5% | |
| Q4 2017 | -9.7% | -7.1% | -6.8% | |
| Q3 2017 | +1.0% | +2.5% | -3.3% | |
| Q2 2017 | -5.8% | -5.4% | -5.4% | |
| Q1 2017 | +3.2% | +4.5% | +9.4% | |
| Q4 2016 | -4.9% | -5.0% | -9.9% | |
| Q3 2016 | -6.4% | -5.2% | -2.4% | |
| Q2 2016 | +2.4% | — | — | |
| Q1 2016 | +5.5% | — | — | |
| Q4 2015 | +0.4% | — | — | |
| Q3 2015 | +1.7% | — | — | |
| Q2 2015 | -1.6% | — | — | |
| Q1 2015 | -0.3% | — | — | |
| Q4 2014 | -3.0% | — | — | |
| Q3 2014 | -2.4% | — | — | |
| Q2 2014 | +5.6% | — | — | |
| Q1 2014 | -7.7% | — | — | |
| Q4 2013 | -3.4% | — | — | |
| Q3 2013 | -3.3% | — | — | |
| Q2 2013 | +3.3% | — | — | |
| Q1 2013 | -1.4% | — | — | |
| Q4 2012 | -1.2% | — | — | |
| Q3 2012 | -2.2% | — | — | |
| Q2 2012 | +3.1% | — | — | |
| Q1 2012 | -7.0% | — | — | |
| Q4 2011 | -0.3% | — | — | |
| Q3 2011 | +0.1% | — | — | |
| Q2 2011 | +1.6% | — | — | |
| Q1 2011 | -0.1% | — | — | |
| Q4 2008 | -1.9% | — | — | |
| Q4 2010 | -1.9% | — | — | |
| Q3 2009 | -0.3% | — | — | |
| Q3 2010 | -0.3% | — | — | |
| Q2 2009 | +0.6% | — | — | |
| Q2 2010 | +0.6% | — | — | |
| Q1 2009 | -0.7% | — | — | |
| Q4 2009 | -0.7% | — | — | |
| Q1 2010 | -0.7% | — | — |
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