NASDAQ$CPB
Campbell Soup Co · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Campbell Soup's Q2 2024 results reflected a slight decrease in net sales but improved volume trends and operating margin expansion.
Campbell Soup Company reported a 1% decrease in net sales to $2.5 billion for the second quarter of fiscal year 2024. Despite the sales dip, the company saw improvements in volume trends and operating margin expansion in both Meals & Beverages and Snacks divisions. Adjusted EPS remained comparable to the prior year at $0.80.
- Net sales decreased by 1% on both a reported and organic basis, totaling $2.5 billion.
- Adjusted EBIT increased by 1% to $364 million.
- Adjusted EPS was $0.80, comparable to the prior year.
- Campbell reaffirms full-year fiscal 2024 guidance and expects to complete the acquisition of Sovos Brands in March 2024.
Headline financials
Revenue & EPS history
Campbell Soup · Revenue · Quarterly
$2.46B
Revenue by segment
Campbell Soup · $2.37B total across 2 segments · Q3 2026
- Meals & Beverages$1.43B—60.3%
- Snacks$940M—39.7%
Forward guidance
Campbell reaffirmed its full-year fiscal 2024 guidance, anticipating sequential earnings and margin progress, with the top-line growth rate tracking to the lower end of the net sales guidance range. The pending acquisition of Sovos Brands is not included in the current fiscal 2024 outlook but will be updated with third-quarter earnings.
Tailwinds
- Reaffirms full-year fiscal 2024 guidance.
- Expects sequential earnings and margin progress in the balance of the fiscal year.
- Anticipates a moderating inflationary environment.
- Ongoing productivity improvements are expected.
- Possible upside should the pace of consumer recovery accelerate in the second half of the year.
Headwinds
- Full year top-line growth rate is currently tracking to the lower end of the net sales guidance range.
- Sovos Brands acquisition is not included in the current fiscal 2024 outlook.
- Unspecified other additional guidance assumptions.
- Unspecified risks related to sales, EBIT and EPS guidance.
- Unspecified factors that could cause the company’s actual results to vary materially.
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 Q2 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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