Q2 2025 Campbell's Co Earnings Call Transcript
Key Points
- The Campbell's Co (CPB) reported a 9% growth in net sales, driven by the contribution from the Sovos acquisition.
- The company's meals and beverages division showed consistent performance with a 1% increase in dollar consumption.
- Rao's sauce delivered high single-digit net sales growth in the second quarter and low teens growth for the first half.
- The Campbell's Co (CPB) achieved approximately $65 million in cost savings under its $250 million cost savings program.
- The company maintained a strong cash flow generation with $737 million in operating cash flow year to date.
- The anticipated recovery of some snacks categories did not materialize, leading to a softer top line.
- Snacks margin fell short of expectations due to unfavorable mix and operational headwinds in the fresh bakery business.
- Organic net sales decreased by 2%, driven by weaker-than-anticipated snacking categories.
- Adjusted EPS declined 8% to $0.74 due to higher interest expense from increased debt levels.
- The company revised its full-year guidance downward due to slower-than-anticipated recovery in snacking categories.
Good morning, and welcome to the Campbell's second quarter fiscal 2025 earnings conference call. Today's conference is being recorded. (Operator Instructions) I would now like to turn the call over to Rebecca Gardy, Chief Investor Relations Officer at Campbell's. Please go ahead.
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Good morning, and welcome to Campbell's second quarter fiscal '25 earnings conference call. I'm Rebecca Gardy, Campbell's Chief Investor Relations Officer. Joining me today are Mick Beekhuizen, Chief Executive Officer; and Carrie Anderson, Chief Financial Officer.
Today's remarks have been prerecorded. Once we conclude the prepared remarks, we will transition to a live webcast Q&A session. The slide deck and today's earnings press release have been posted to the Investor Relations section on our website, thecampbellscompany.com. Following the conclusion of the Q&A session, a replay of the webcast will be available at the same
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