Q3 sales 2.4 bln usd, up 6% (Il Sole 24 Ore Radiocor) - New York, 05 Jun - US food company Campbell Soup said that in the fiscal 2024 third quarter ended April 28 its earnings per share (EPS) decreased 17% to 0.44 dollars, while adjusted EPS increased 10% to 0.75 dollars.

Campbell completed the acquisition of Sovos Brands on March 12, 2024.

Revenue in the three months was 2.4 billion dollars, up 6% on a reported basis and and comparable to the prior year's 2.2 billion on an organic basis.

EBIT decreased 2% to 248 million dollars. Adjusted EBIT increased 13% to 354 million dollars.

'We are excited about the integration of the Sovos Brands business, which already is bringing significant incremental growth to our company as we continue to navigate the pace of consumer recovery,' said Campbell's president and CEO, Mark Clouse.

Full-year 2024 reported net sales growth is expected to be in the range of 3-4% driven by the incremental impact of the Sovos Brands acquisition.

Full-year adjusted earnings per share growth for the combined business is expected to be around 2-3% to 3.07-3.10 dollars, compared to 3.00 in the prior year.

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(RADIOCOR) 05-06-24 14:12:34 (0417) 5 NNNN