Campbell Soup Company (NASDAQ:CPB) reported fourth-quarter net sales of $2.293 billion, up 11% year over year but missing the consensus estimate of $2.313 billion. Organic sales declined 1%.
Net sales from the Meals & Beverages segment increased 28% and the Snacks segment declined by 3%. Adjusted EPS was $0.63, up from $0.50 a year ago, beating the consensus of $0.62.
Gross profit rose to $675 million from $656 million, with a margin of 29.4% versus 31.7%. Adjusted gross profit increased to $719 million from $632 million, with a margin up 80 bps to 31.4%, driven by supply chain productivity improvements.
Campbell reported EBIT dropped to $77 million from $272 million, mainly due to impairment ...
