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

Backs FY24 revenue view down 0.5% to up 1.5%, consensus $9.42B. Backs FY24 adjusted EBIT view up 3%-5%. The company said, “Based on the company’s first quarter performance, Campbell is reaffirming its full-year fiscal 2024 guidance range provided on August 31, 2023. Net sales for the full year are expected to reflect volume declines in the first half of fiscal 2024 with sequential improvement leading to positive volume trends in the second half. Additionally, net sales growth will reflect lower contribution from pricing and disciplined levels of promotion. The company continues to expect modest earnings and margin progress in fiscal 2024, weighted to the second half, reflecting a moderating inflationary environment and on-going productivity improvements.”