Dallas, Texas 07/21/2014 (FINANCIALSTRENDS) – Campbell Soup Company (NYSE:CPB) will interact with investors today to discuss the steps the company is taking and its plans to drive growth in FY15 with the launch of over 200 new products. President and Chief Executive Officer Denise Morrison will share her perspective on the status of the packaged food industry while discussing the company’s progress as it reshapes its portfolio offerings and executes strategies to deliver sustainable net sales growth. Ms. Morrison and her team will highlight the steps the Company is embarking towards becoming a profitable $10 billion company over the next five years. The Company is strengthening its core business while expanding into rapidly growing spaces to realize this aim.
Reaffirms FY14 Guidance and Long-term Outlook
Campbell Soup Company (NYSE:CPB) reaffirmed its FY14 guidance where it expected growth of about 3 percent in net sales from continuing operations. The company expects adjusted EBIT growth at lower end of 4 to 6 percent range for FY14 ending August 3, 2014. Adjusted earnings are expected to remain at lower end of $2.53 to $2.58 per share range, representing about 2 percent year over year growth. The company also reaffirmed its long-term targets of 3 – 4 percent organic sales growth ad 5 – 7 percent adjusted EPS growth with 4 – 6 percent adjusted EBIT growth.
Key Drivers for FY15
Campbell Soup Company (NYSE:CPB) expects organic sales to increase during FY15 driven by improvements in its key categories. The company expects progress in its U.S. Beverages, Australian businesses, and continues growth from the innovation platforms and support from recent acquisitions. The company expects FY15 gross margin percentage to remain at par with FY14 figures. The company will provide FY15 outlook alongside the release of 4Q14 financial results on Monday, September 8, 2014.
Campbell Soup Company (NYSE:CPB) makes real food ranging from high-quality soups to snacks, meals and healthy beverages.