Campbell Soup Company (NYSE: CPB) reported first quarter 2024 earnings results today.
Net sales decreased 2% year-over-year to $2.52 billion. Organic sales were down 1%.
Net earnings attributable to Campbell Soup Company declined 21% to $234 million, or $0.78 per share, compared to last year. Adjusted EPS decreased 11% to $0.91.
Earnings beat estimates while revenues came in line with expectations.
For the full year of 2024, net sales growth is expected to range between down 0.5% to up 1.5%. Organic net sales are expected to grow 0-2%. Adjusted EPS is expected to be $3.09-3.15.
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The stock rose over 1% in premarket hours on Wednesday following the earnings announcement.
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