Payment terms with suppliers (days)

2e008588b5d1b44c3fbff0f4c3a2a9bbf1a276b23e6245e9987124d24572d86e

Adjustments for Non-Cash Items (USD, millions)

Stock-Based Compensation (USD, millions)

Changes in Working Capital (USD, millions)

Capital Expenditures (CapEx) (USD, millions)

Proceeds from / Repayments of Debt (USD, millions)

Share Repurchases (USD, millions)

Dividend Payments (USD, millions)

Net Change in Cash (USD, millions)

3fb2ad864f59df8c69866b9193f58f015b8091853db3df09d4ad59be57a41344

1ab3b62dfe9ecc368b43e21f895836ad100bec04ec96b50a17c31595e5941c3d

de4bf5e013246757536a44b712a8235942738e62f39e4b3e52fa760cf3314c27

United States

Australia

Other

Meals & Beverages

Snacks

Total Revenue

64a4ac0afbe10882bbab906410bb7273449da75eeb391b872462f14bc5fce12a

d80a3031001b5d980280324274b80a4ad01c38d9b06f6ed061bd4bed9fd57afd

Net Sales (USD, millions)

Cost of Products Sold (USD, millions)

Marketing and Selling Expenses (USD, millions)

Administrative Expenses (USD, millions)

Research and Development Expenses (USD, millions)

Other Expenses / (Income) (USD, millions)

Restructuring Charges (USD, millions)

Total Costs and Expenses (USD, millions)

Earnings Before Interest and Taxes (USD, millions)

Interest Expense (USD, millions)

Interest Income (USD, millions)

Earnings Before Taxes (USD, millions)

Taxes on Earnings (USD, millions)

Net Earnings (USD, millions)

Net Earnings Attributable to The Campbell's Company (USD, millions)

d564c50ee41f53a33ce95f6b65576ba2d9662f8c57e6254995e494cc8e187e8a

Cash and cash equivalents (USD, millions)

Accounts receivable, net (USD, millions)

Inventories (USD, millions)

Other current assets (USD, millions)

Total current assets (USD, millions)

Plant assets, net of depreciation (USD, millions)

Goodwill (USD, millions)

Other intangible assets, net of amortization (USD, millions)

Other assets (USD, millions)

Total assets (USD, millions)

Short-term borrowings (USD, millions)

Payable to suppliers and others (USD, millions)

Accrued liabilities (USD, millions)

Dividends payable (USD, millions)

Accrued income taxes (USD, millions)

Total current liabilities (USD, millions)

Long-term debt (USD, millions)

Deferred taxes (USD, millions)

Other liabilities (USD, millions)

Total liabilities (USD, millions)

Capital stock, $ .0375 par value; authorized 560 shares; issued 323 shares (USD, millions)

Additional paid-in capital (USD, millions)

Earnings retained in the business (USD, millions)

Capital stock in treasury, at cost (USD, millions)

Accumulated other comprehensive income (loss) (USD, millions)

Total Campbell Soup Company shareholders' equity (USD, millions)

Noncontrolling interests (USD, millions)

Total equity (USD, millions)

Total liabilities and equity (USD, millions)

a8ba59f8c5bc594aee6c95e923ac785660a37d87d29cc346d259312f6511bcdb

The increase in cash and cash equivalents in Q2 2022 was primarily driven by **strong cash flow from operating activities**, which provided a significant boost compared to previous performance. This was accompanied by **stable net cash used in investing activities** and strategic financing moves, including the repayment of short-term borrowings that helped to further enhance the cash balance during the period.  **[0000016732-22-000013_exhibit991-q22022.htm:10]** **[0000016732-22-000014_cpb-20220130.htm:4]** 

Why was Cash and cash equivalents so high in Q2 2022?

The increase in Total assets in Q1 2023 was mainly driven by an **increase in current assets**. Specifically, cash and cash equivalents, accounts receivable, inventories, and other current assets all saw increases, which more than offset the slight decreases in plant assets, goodwill, and intangible assets.  **[0000016732-22-000156_cpb-20221030.htm:3]** 

What drove the increase in Total assets in Q1 2023?

The spike in **short-term borrowings** in Q1 2023 was primarily driven by a significant increase in **commercial paper borrowings** and the forthcoming **debt maturities**—specifically, **$566 million** in notes maturing in March 2023—that the company needed to refinance. Additionally, although the company had a committed **revolving credit facility of $1.85 billion**, which remained largely unused, the facility supports these liquidity maneuvers by enhancing available credit. This strategic mix of actions to manage liquidity and prepare for refinancing explains the substantial increase to **$858 million** in Q1 2023.  **[0000016732-22-000156_cpb-20221030.htm:32]** 

Why did Short-term borrowings spike in Q1 2023?

The rebound in Accounts Receivable in Q1 2023 appears to be driven by a **15% increase in net sales**, which was fueled by **inflation-driven pricing**, strong **brand performance**, and **supply recovery**. Additionally, the quarter included a **retailer inventory rebuild** that may have further contributed to the increase in receivables. Although the documents do not explicitly state every reason, these factors are likely responsible for the rise from **$541 million to $733 million** during that period.  **[0000016732-22-000156_cpb-20221030.htm:3]** **[0000016732-22-000154_exhibit991-q12023.htm:0]** **[CPB_1757701_4]** 

What explains the rebound in Accounts receivable in Q1 2023?

The documents indicate that the sharp rise—from **$3 million in Q4 2022** to **$82 million in Q1 2023**—could be attributed to several factors. These factors include **timing differences in tax payments**, **stronger financial performance** (with a **15% increase in adjusted EBIT and adjusted EPS**, which likely led to higher taxable income), and **possible tax adjustments related to prior periods**. However, the documents do not provide a definitive explanation for the increase.  **[0000016732-22-000156_cpb-20221030.htm:3]** **[CPB_1757701_0]** **[0000016732-22-000154_exhibit991-q12023.htm:0]** **[CPB_1757701_4]** 

What caused the sharp rise in Accrued income taxes in Q1 2023?

943787bccd43af0c09b98505e30d4613041bd5c0b737ab60a188e14104ec7987

Campbell Soup Company’s **low EBIT in Q4 2024** was primarily due to several one-time and non-recurring charges. Specifically, the company recorded **$129 million in impairment charges** related to its trademarks, **$33 million in pension and postretirement actuarial losses**, **$27 million in commodity mark-to-market losses**, **$40 million in costs associated with cost savings and optimization initiatives**, **$14 million in acquisition-related costs** from integrating Sovos Brands, and **$7 million in accelerated amortization expenses** from its customer relationship intangibles.  **[0000016732-24-000124_exhibit991-q420248xka.htm:17]** **[0001308179-24-000723_cpb4347611-pre14a.htm:102]** **[0001308179-24-000757_cpb4347611-def14a.htm:102]** 

Why was EBIT so low in Q4 2024?

The negative net earnings in **Q4 2024** were primarily driven by several factors, including **impairment charges of $129 million**, an increase in **net interest expense to $83 million**, **pension and postretirement actuarial losses of $33 million**, **commodity mark-to-market losses of $27 million**, and higher **costs associated with the Sovos Brands acquisition amounting to $14 million**.  **[0000016732-24-000120_exhibit991-q42024.htm:17]** 

What factors led to negative net earnings in Q4 2024?

In **Q4 2024**, the dramatic spike in other expenses was driven by several key factors. Firstly, **impairment charges of $129 million** were recorded related to trademark values for the Pop Secret and Allied brands. Secondly, there was **accelerated amortization of intangible assets totaling $73 million**, which included **$27 million** of accelerated amortization tied to the loss of key contract manufacturing customers. Additionally, the company incurred **$35 million in acquisition-related costs** for Sovos Brands and recognized **$33 million in pension and postretirement actuarial losses** due to lower discount rates and plan experience shifts.  **[0000016732-24-000130_cpb-20240728.htm:39]** **[0000016732-24-000120_exhibit991-q42024.htm:15]** **[0000016732-24-000124_exhibit991-q420248xka.htm:15]** **[0000016732-24-000130_cpb-20240728.htm:44]** 

What drove the dramatic spike in other expenses in Q4 2024?

The sharp increase in Q1 2025 net sales was primarily driven by **Campbell's acquisition of Sovos Brands**, which added **12 percentage points** to reported net sales growth and contributed significantly to the overall performance.  **[0000016732-24-000201_cpb-20241027.htm:29]** **[CPB_3410710_2]** **[0000016732-24-000198_exhibit991-q12025.htm:0]** **[CPB_3410710_5]**  In addition, the **Meals & Beverages** segment saw a **22% increase in net sales**, largely due to the acquisition's impact, while growth in **Other Simple Meals** also contributed to the overall uplift despite a **1% decline in organic net sales** and a slight downturn in the Snacks category.  **[0000016732-24-000198_exhibit991-q12025.htm:3]** **[0000016732-24-000201_cpb-20241027.htm:12]** 

What factors contributed to the sharp increase in net sales in Q1 2025?

The negative taxes on earnings in Q4 2024 were primarily the result of several significant factors that reduced taxable income. These included **impairment charges of $129 million**, **acquisition-related costs of $14 million** for Sovos Brands, **pension and postretirement actuarial losses of $33 million**, and **commodity mark-to-market losses of $27 million**, which collectively turned the usual tax expense negative for the quarter.  **[0000016732-24-000124_exhibit991-q420248xka.htm:17]** **[0000016732-24-000120_exhibit991-q42024.htm:17]** 

Why were taxes on earnings negative in Q4 2024?

0f1effbb3e0668b9d1a64cc3ecebdaf72c2d499028679b466e9ee156042868bc

Campbell's Co (CPB)

Financials