Campbell Soup's Food and Beverage Sales Help Offset Slide in Snacks
CPBCampbell Soup(CPB) Investopedia·2024-06-06 00:36

Key TakeawaysCampbell Soup reported snack sales dropped in the fiscal third quarter from a year earlier, and it lowered its full-year earnings guidance.However, food and beverage sales helped offset the snacks decline, boosted by Campbell Soup's acquisition of Rao's owner Sovos Brands.Campbell Soup's revenue beat analysts' estimates and the company raised its projection for full-year revenue.CEO Mark Clouse said Sovos "is bringing significant incremental growth to our company as we continue to navigate the ...