Campbell Soup Q3 2021 Earnings Report
Key Takeaways
Campbell Soup Company reported an 11% decrease in net sales for the third quarter of fiscal year 2021, primarily due to lapping unprecedented demand from the prior year. Adjusted EPS decreased by 31% to $0.57, reflecting sales volume declines and lower adjusted gross margin performance.
Net sales decreased 11% due to lapping the prior year's demand surge at the pandemic's onset.
Earnings Before Interest and Taxes (EBIT) was $272 million, comparable to the prior year, while adjusted EBIT decreased 27% to $283 million.
Earnings Per Share (EPS) from Continuing Operations decreased 2% to $0.54, and adjusted EPS decreased 31% to $0.57.
Nearly 75% of the brand portfolio grew or held share, indicating strong brand health and continued momentum.
Campbell Soup
Campbell Soup
Campbell Soup Revenue by Segment
Forward Guidance
Campbell is updating its full-year fiscal 2021 guidance to reflect its third-quarter results and the impact of the sale of the Plum baby food and snacks business on May 3, 2021. In the fourth quarter, the company expects continued margin pressure related to its transition out of the COVID-19 environment, and more pronounced inflation while pricing actions take hold in the beginning of fiscal 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income