Campbell Soup Expects To Build Momentum Through Sovos Brands Acquisition -- Market Talk

Dow Jones06-05

0810 ET - Campbell Soup revises its outlook for the fiscal year, boosted in part by its completed acquisition of Rao's pasta sauce maker Sovos Brands. The company now sees net sales growing between 3% and 4% driven by what it says is the incremental impact of the Sovos Brands acquisition versus its previous forecast of a decline of 0.5% and increase of 1.5%. Other metrics including adjusted earnings per share and adjusted organic net sales are revised downward slightly, with Campbell saying the latter reflects the current pace of consumer recovery. But Campbell expects to build momentum in F4Q with the continued stabilization of year-over-year volume growth and the integration of Sovos, among other factors. (denny.jacob@wsj.com; @pennedbyden)

(END) Dow Jones Newswires

June 05, 2024 08:10 ET (12:10 GMT)

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The company now sees net sales growing between 3%...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2441220178","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2441220178","pubTimestamp":1717589400,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0810 ET - Campbell Soup revises its outlook for the fiscal year, boosted in part by its completed acquisition of Rao's pasta sauce maker Sovos Brands. 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