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Campbell Soup Company Reports on Q4

09/07/2020

According to a company release on September 3rd, Campbell Soup Company (CPB) reported on the fourth quarter of Fiscal 2020 ending August 2nd.

 

For the quarter, the company posted net income of $86 million on sales of $2.108 billion with an earnings per share of $0.28. For the corresponding fourth quarter of fiscal 2019 ending July 28th, the company lost $8 million on revenue of $1.78 billion with a negative earnings per share of $(0.03).  For fiscal 2020 net earnings attained $1.628 billion on revenue of $8,691 billion with an EPS of $5.39.

 

For fiscal 2020, sales in the Meals and Beverages segment represented 53 percent of sales with an operating margin of 21.3 percent.  The Snacks segment represented 47 percent of sales with an operating margin of 13.6 percent.  For the most recently completed quarter, gross margin was 34.0 percent, lower than the 35.5 percent generated in Q4 of fiscal 2019.

 

In commenting on Q4 results, Mark Clouse, President and CEO stated, “our strong fourth-quarter and four-year fiscal 2020 performance was enabled by the extraordinary work of teams in a challenging operating environment.”  Subsequently, in the earnings call, Clouse commented that the company is focused on retaining shoppers who turned to Campbell Soup products during the stay-at-home phase of the COVID restrictions.  Clouse commented, “we all knew there would be a pivot evidently back to healthier recipes from a little more comfort-oriented initially during the pandemic. Campbell will reintroduce promotions as shoppers are now becoming more value conscious.

 

Campbell Soup has a market cap of $14.42 billion and has assets of $12.37 billion.  The company carries long-term debt of $6.73 billion.  CPB has traded over the past 52 weeks over a range of $40.70 to $57.54 with a 50-day moving average of $50.8.  CPB closed at $52.61 on Wednesday 2nd prior to the Q4 release.  Shares closed at $48.57 on Thursday September 3rd on a day in which the S&P declined by 3.5 percent.