Campbell Soup Reports Q2 Beat, Provides Guidance

Campbell Soup (NYSE:CPB) reported its Q2 results on Wednesday, overdelivering on the top and bottom line and taking up guidance despite greater headwinds from lower pension incomes.

EPS was $0.80, coming in better than the Street estimate of $0.74. Revenue was $2.49 billion, beating the Street estimate of $2.44 billion. Total organic sales were up 12% year-over-year, compared to the Street estimate of 11.1%, driven by strong pricing growth of 14%, while volumes were down 2%.

The company provided its fiscal 2023 outlook, expecting EPS to be in the range of $2.95-$3.00, compared to the Street estimate of $2.99. Full-year net sales are expected to grow in the range of 8.5%-10%.