Campbell Soup Q1 2023 Earnings Report
Key Takeaways
Campbell Soup Company reported strong first-quarter fiscal 2023 results with net sales and organic net sales increasing by 15%. The company raised its full-year fiscal 2023 guidance based on these results, sustained brand momentum, and a strengthened supply chain.
Net Sales and Organic Net Sales increased 15% due to inflation-driven pricing, brand strength and continued supply recovery.
Reported Earnings Before Interest and Taxes (EBIT) increased 16% to $436 million. Adjusted EBIT increased 15% to $449 million.
Reported Earnings Per Share (EPS) increased 15% to $0.99. Adjusted EPS increased 15% to $1.02.
Raised full-year fiscal 2023 guidance based on strong first-quarter results, sustained brand momentum and strengthened supply chain.
Campbell Soup
Campbell Soup
Campbell Soup Revenue by Segment
Forward Guidance
Based on the company's strong first quarter results which reflect continued demand for its products and improved supply chain execution, Campbell is raising its full-year fiscal 2023 net sales, adjusted EBIT and adjusted EPS guidance provided on September 1, 2022, while taking into account the volatile economic environment.
Positive Outlook
- Net Sales +7% to +9%
- Organic Net Sales +7% to +9%
- Adjusted EBIT +2.5% to +6.5%
- Adjusted EPS $2.90 to $3.00
Revenue & Expenses
Visualization of income flow from segment revenue to net income