| --- | --- | --- | --- | --- | |----------------------------------------------------------|-------|--------------|-------|----------| | (Millions) \nFair value at beginning of year | $ | 2023 \n 4 | $ | 2022 \n1 | | Gains (losses) | | 3 | | 18 | | Settlements | | (5) | | (15) | | Fair value at end of year | $ | 2 | $ | 4 | Fair Value of Financial Instruments The carrying values of cash and cash equivalents, accounts receivable and accounts payable approximate fair value. There were no cash equivalents at J ...

Campbell Soup Company (NYSE:CPB) Q4 2023 Earnings Conference Call August 31, 2023 8:00 AM ET Company Participants Rebecca Gardy - Chief Investor Relations Officer Mark Clouse - President and CEO Carrie Anderson - CFO Conference Call Participants Andrew Lazar - Barclays Ken Goldman - JPMorgan Peter Galbo - Bank of America Michael Lavery - Piper Sandler Jason English - Goldman Sachs Operator Greetings, ladies and gentlemen, and welcome to the Campbell Soup Company Fourth Quarter Fiscal 2023 Earnings Conferenc ...

Campbell Soup Company (NYSE:CPB) Q3 2023 Earnings Conference Call June 7, 2023 8:00 AM ET Company Participants Rebecca Gardy - Chief Investor Relations Officer Mark Clouse - President and Chief Executive Officer Carrie Anderson - Chief Financial Officer Conference Call Participants Andrew Lazar - Barclays Ken Goldman - JPMorgan Peter Galbo - Bank of America Merrill Lynch Michael Lavery - Piper Sandler David Palmer - Evercore ISI Pamela Kaufman - Morgan Stanley Operator Greetings, ladies and gentlemen, and w ...

BUILDING MOMENTUM Appendix 30 Reconciliation of GAAP and Non-GAAP Financial Measures ($ millions) | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------------------|-------|-------------------------|-------|---------------------|-------|-------|--------------------|------------------------------------|--------------------| | Third Quarter \nApril 30, 2023 | | Net Sales, As Reported | | Impact of Currency | | | Organic Net Sales | % Change \nNet Sales, As Reported | Organic Net ...

Financial Performance - Net sales for the three months ended April 30, 2023, were $2,229 million, an increase of 4.6% compared to $2,130 million for the same period in 2022[9]. - Net earnings attributable to Campbell Soup Company for the three months ended April 30, 2023, were $160 million, a decrease of 15% from $188 million in the prior year[9]. - Net earnings for the nine months ended April 30, 2023, were $689 million, compared to $661 million for the same period in 2022, representing a 4.2% increase[18]. - Earnings per share (basic) for the three months ended April 30, 2023, were $0.54, down from $0.62 in the prior year[9]. - Total net sales for the nine-month period ended April 30, 2023, were $7.29 billion, an 11% increase compared to $6.58 billion in the prior year[125]. Assets and Liabilities - Total assets as of April 30, 2023, amounted to $12,073 million, up from $11,892 million as of July 31, 2022[14]. - Current liabilities decreased to $2,288 million as of April 30, 2023, from $2,886 million as of July 31, 2022[14]. - Long-term debt increased to $4,496 million as of April 30, 2023, compared to $3,996 million as of July 31, 2022[14]. - Cash and cash equivalents increased to $223 million as of April 30, 2023, from $109 million as of July 31, 2022[14]. Expenses and Costs - Research and development expenses for the three months ended April 30, 2023, were $24 million, up from $22 million in the same period last year[9]. - Depreciation and amortization expenses rose to $284 million, up from $251 million, reflecting a 13.1% increase[18]. - Marketing and selling expenses increased by 10% in 2023, primarily due to higher advertising and consumer promotion expenses[129]. - Administrative expenses as a percentage of sales increased to 7.5% in 2023 from 7.1% in 2022, with an 11% increase in absolute terms attributed to inflation and higher incentive compensation[116]. Shareholder Returns - Total dividends paid during the period amounted to $336 million, slightly down from $340 million in the previous year[21]. - The company purchased treasury stock worth $141 million, compared to $116 million in the same period last year, indicating a 21.6% increase[18]. - The company repurchased a total of 1,393,891 shares at an average price of $54.09 per share during the three months ended April 30, 2023[171]. - The company has authorized a strategic share repurchase program of up to $500 million, which has no expiration date[173]. Segment Performance - The Meals & Beverages segment reported net sales of $1,108 million for the three months ended April 30, 2023, compared to $1,131 million in the prior year, a decline of 2.0%[37]. - The Snacks segment achieved net sales of $1,121 million for the three months ended April 30, 2023, up from $999 million in the same period last year, an increase of 12.2%[35]. - Segment operating earnings increased 14% in 2023, with Meals & Beverages at $762 million (up 7%) and Snacks at $482 million (up 28%) compared to the previous year[132]. Restructuring and Costs - The company incurred restructuring charges of $15 million during the nine months ended April 30, 2023, compared to none in the prior year[18]. - Total pre-tax charges related to restructuring initiatives for the three months ended April 30, 2023, were $33 million, compared to $6 million in the same period last year[41]. - The company expects total estimated pre-tax costs for identified actions to be approximately $880 million to $900 million, with expected cash expenditures of $700 million to $720 million[44]. Cash Flow and Capital Expenditures - Net cash provided by operating activities was $918 million, a decrease of 16.6% from $1,101 million in the prior year[18]. - Capital expenditures were $257 million in 2023, with expectations to total approximately $360 million for the year, including capacity expansions for Snacks and Meals & Beverages[151]. Risks and Challenges - The company faces risks related to supply chain inputs, including labor and raw materials, which could impact future performance[164]. - The company is monitoring the impacts of the COVID-19 pandemic on its business and operations[164]. - The company experienced volatility in costs due to the Russia-Ukraine conflict, but it has not had a material impact on its business or financial condition[102]. - The company has identified potential disruptions to its supply chain and operations as a risk factor[164]. Tax and Regulatory - The effective tax rate for 2023 was 23.1%, slightly higher than 23.0% in 2022[124]. - The effective tax rate increased to 23.7% in 2023 from 22.2% in 2022, mainly due to favorable tax resolutions in the previous year[137]. Other Financial Metrics - The company recognized losses of $9 million in Cost of products sold associated with unrealized mark-to-market adjustments on commodity hedges in the third quarter of 2023[108]. - The total cost of products sold expense for the nine months ended April 30, 2023, was $5,028 million, an increase from $4,519 million for the same period in 2022[66].

Campbell Soup Company (NYSE:CPB) Q2 2023 Earnings Call Transcript March 8, 2023 8:00 AM ET Company Participants Rebecca Gardy - Chief Investor Relations Officer Mark Clouse - President & Chief Executive Officer Mick Beekhuizen - President, Meals & Beverages Carrie Anderson - Chief Financial Officer Conference Call Participants Andrew Lazar - Barclays Ken Goldman - JPMorgan Peter Galbo - Bank of America Robert Moskow - Credit Suisse Operator Greetings, ladies and gentlemen, and welcome to the Campbell Soup C ...

1 Rebecca Gardy Senior Vice President Investor Relations BUILDING MOMENTUM Forward-Looking Statements the risks related to the availability of, and cost inflation in, supply chain inputs, including labor, raw materials, commodities, packaging and transportation; the impacts of, and associated responses to, the COVID-19 pandemic on our business, suppliers, customers, consumers and employees; the company's ability to execute on and realize the expected benefits from its strategy, including growing sales in sn ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Quarterly Period Ended Commission File Number January 29, 2023 1-3822 CAMPBELL SOUP COMPANY New Jersey 21-0419870 State of Incorporation I.R.S. Employer Identification No. 1 Campbell Place Camden, New Jersey 08103-1799 Principal Executive Of ices Telephone Number: (856) 342-4800 Securities registered pursuant to Section 12(b) of the ...

Campbell Soup Company (NYSE:CPB) Q1 2023 Results Conference Call December 7, 2022 8:00 AM ET Company Participants Rebecca Gardy - Chief Investor Relations Officer Mark Clouse - President and Chief Executive Officer Mick Beekhuizen - Chief Financial Officer Conference Call Participants Andrew Lazar - Barclays Ken Goldman - JPMorgan Peter Galbo - Bank of America Jason English - Goldman Sachs Chris Growe - Stifel Michael Lavery - Piper Sandler Robert Moskow - Credit Suisse Operator Greetings, ladies and gentle ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q Large accelerated filer☑ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Quarterly Period Ended Commission File Number October 30, 2022 1-3822 CAMPBELL SOUP COMPANY New Jersey 21-0419870 State of Incorporation I.R.S. Employer Identification No. 1 Campbell Place Camden, New Jersey 081 ...