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Oct 31, 2021
Campbell Soup Q1 2022 Earnings Report
Campbell Soup's first-quarter results for fiscal year 2022 were reported, showing a decrease in net sales and adjusted EPS, but reaffirming full-year guidance.
Key Takeaways
Campbell Soup Company reported a 4% decrease in net sales and a 12% decrease in adjusted EPS for the first quarter of fiscal 2022. The company reaffirms its full-year guidance, adjusting for the exclusion of unrealized mark-to-market gains and losses on commodity hedges.
Net Sales decreased by 4%, with a similar decrease in Organic Net Sales, impacted by retailer inventory recovery in the prior year.
Adjusted EBIT decreased by 15% to $389 million.
Adjusted EPS decreased by 12% to $0.89.
Full-year guidance was reaffirmed, adjusted to exclude unrealized mark-to-market gains and losses on commodity hedges.
Revenue by Segment
Forward Guidance
Campbell continues to expect full-year fiscal 2022 net sales and adjusted EPS performance to be consistent with its guidance provided on September 1, 2021. Full-year guidance reflects the continued cycling of elevated demand, accelerating inflationary pressures and a constrained labor market partially mitigated by continued in-market momentum and well-executed pricing, productivity plans and cost savings program.
Positive Outlook
- Continued in-market momentum
- Well-executed pricing strategies
- Productivity plans
- Cost savings program
- Recovery of labor
Challenges Ahead
- Continued cycling of elevated demand
- Accelerating inflationary pressures
- Constrained labor market
- Additional core inflation across commodities
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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