Campbell Soup Company reported a 6% increase in net sales to $2.0 billion and an 8% increase in adjusted EPS to $0.56 for the fourth quarter of fiscal year 2022. The company's performance was driven by inflation-driven pricing and sales allowances, which offset volume declines and increased promotional spending.
Net sales and organic net sales increased 6% to $2.0 billion.
Adjusted EBIT increased 5% to $269 million.
Adjusted EPS increased 8% to $0.56.
Company achieved $850 million of total savings under its multi-year cost savings program.
Campbell is providing full-year fiscal 2023 guidance reflecting the expectation for continued elevated consumer demand for its brand portfolio.
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