NEW YORK - Campbell Soup Company (NYSE:CPB) reported mixed fourth quarter results and provided full-year guidance that fell short of analyst expectations, sending shares down nearly 2% in premarket trading.
The food products maker posted adjusted earnings per share of $0.63 for the quarter, edging past the analyst consensus of $0.62. Revenue rose 11% year-over-year to $2.3 billion, slightly below estimates of $2.32 billion.
Organic net sales decreased 1% in Q4, with net price realization down 2% partially offset by 1% favorable volume/mix. The company said volume/mix sequentially improved from the third quarter.
For fiscal 2025, Campbell forecasts adjusted earnings per share of $3.12 to $3.22, below the $3.23 Wall Street was expecting. The company sees organic net sales growth of 0% to 2% for the year.
"We finished fiscal 2024 with solid fourth-quarter performance including sequential volume improvement and margin expansion versus prior year," said Campbell's President and CEO Mark Clouse.
The company said its fiscal 2025 forecast reflects "a balance between sequential progress and pragmatism" as it navigates an ongoing consumer recovery. Campbell noted the upper end of its guidance range assumes a quicker normalization of consumer trends, while the lower end factors in a more conservative pace.
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