CAMDEN (dpa-AFX) - While reporting financial results for the fourth quarter on Thursday, Campbell's Co. (CPB) initiated its adjusted earnings, net sales and organic net sales growth guidance for the full-year 2027.
The company said the outlook reflects an external environment which it expects will remain volatile, another year of elevated inflation, and several longer-term benefits that are expected to build through the year to increasingly support our margins.
For fiscal 2027, the company now projects adjusted earnings in a range of $1.65 to $1.80 per share on net sales and organic net sales decline of 4 to 2 percent.
For the fourth quarter, the company reported a net loss attributable to common shareholders of $69 million or $0.23 per share, compared to net earnings of $145 million or $0.48 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter were $0.39 per share, compared to $0.62 per share in the year-ago quarter.
Net sale for the quarter declined 8 percent to $2.14 billion from $2.32 billion in the same quarter last year. Organic net sales were down 1 percent.
The company noted that The La Regina acquisition was completed on May 4, 2026, and as such, La Regina's financials are fully consolidated into Campbell's results.
The company added that the additional week in the prior fiscal year's fourth quarter was an estimated 7 percent impact to net sales and adjusted EPS ($0.06 per share).
'Our performance is not where it needs to be, and we are taking decisive action to improve it. We are increasing our focus on the consumer, sharpening execution, reducing costs to support investment in our brands, and strengthening our balance sheet, including resetting our dividend,' said Mick Beekhuizen, Campbell's President and CEO.
To help accelerate the path to reducing debt on the company's balance sheet, the company announced that its Board of Directors approved a 36 percent lower quarterly dividend payment of $0.25 per share, or $1.00 on an annualized basis.
The quarterly dividend is payable on November 2, 2026 to shareholders of record at the close of business on October 1, 2026.
Beginning in fiscal 2027, Campbell's is launching a new program targeting total cost savings of $500 million by fiscal 2030.
In Thursday's pre-market trading, CPB is trading on the Nasdaq at $22.16, down $1.62 or 6.81 percent.
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