$CPB reports strong growth and revised full-year outlook
Mar 8th 2023, 12:22 pm
Analyst Summary: Campbell Soup Company (NYSE:CPB) has reported double-digit sales and earnings per share growth for a second consecutive quarter, with favorable net price realization and continued brand strength driving the momentum of the business. The company has raised its full-year fiscal 2023 net sales outlook and adjusted EBIT and EPS outlook from the guidance provided on December 7, 2022, reflecting the strength of the company's performance. The updated adjusted EBIT and adjusted EPS guidance include planned investment to sustain momentum and value for consumers and higher year-over-year estimated pension and post-retirement headwinds. Campbell is confident in its ability to deliver strong performance throughout the year. "The momentum of our business continued as we delivered double-digit sales and earnings per share growth for a second consecutive quarter. While the top line benefited from favorable net price realization, we also continued to see strong brand health," said Campbell's President and CEO, Mark Clouse. However, investors should note that these forward-looking statements rely on a number of assumptions and estimates that could be inaccurate and are subject to risks and uncertainties.