Campbell Soup Company (NASDAQ:CPB) has announced its financial results for the fourth quarter and full fiscal year ended July 28, 2024.
In the fourth quarter, Campbell Soup saw its net sales increase by 11% to reach $2.3 billion.
However, when adjusted for the Sovos Brands acquisition and other factors, organic net sales slightly declined by 1%.
While the company's Earnings Before Interest and Taxes (EBIT) dropped to $77 million, its adjusted EBIT soared by 36% to $329 million, bolstered by the integration of Sovos Brands.
Even though the company's Earnings Per Share (EPS) presented a stark contrast, with a minor decrease to $0.01 per share, its adjusted EPS improved by 26% to $0.63.
For the entire fiscal year, Campbell's net sales rose by 3% to $9.6 billion, with a slight 1% decrease in organic sales.
While the full year's EBIT decreased to $1 billion, with adjusted figures climbing by 6% to $1.5 billion, the company's EPS for the full year fell to $1.89, with adjusted EPS inching up by 3% to $3.08.
Amid these financial shifts, Campbell Soup demonstrated its commitment to shareholders by returning $512 million, including $445 million in dividends.
As of the time of writing this report, Campbell Soup's share price remained steady at $50.17.