Campbell Soup backs FY24 adjusted EPS $3.09-$3.15, consensus $3.07

Backs FY24 revenue view down 0.5% to up 1.5%, consensus $9.37B. Sees FY24 organic net sales flat to up 2%. Sees FY24 adjusted EBIT up 3%-5%. The company said, “Given the sequential volume and margin improvement for its key brands and categories, the company is reaffirming its full-year fiscal 2024 guidance provided on August 31, 2023. Full year top-line growth rate is currently tracking to the lower end of the net sales guidance range, with possible upside should the pace of consumer recovery accelerate in the second half of the year. The company continues to expect sequential earnings and margin progress in the balance of the fiscal year reflecting a moderating inflationary environment and on-going productivity improvements.”