Campbell Soup beats quarterly estimates on steady demand for quick meals [Reuters]
Sovos Brands, Inc. (SOVO)
Company Research
Source: Reuters
and stuck to its annual forecasts, helped by steady demand for branded, ready-to-eat meals and strength in its food service business. Prices across Campbell's products rose 1%, while overall volumes dipped 2% during the reported quarter, as holiday promotions encouraged shoppers to indulge in its Goldfish crackers and Pepperidge Farm cookies. The pace of price increases has slowed from last year's mid-double-digit rise, as most food companies try to limit pricing to cope with subdued demand. Packaged foods peers Kraft Heinz Mondelez (MDLZ.O) , opens new tab McCormick (MKC.N) , opens new tab Hershey (HSY.N) , opens new tab and PepsiCo (PEP.O) , opens new tab have all flagged softer volume growth in their latest quarterly results. Still, benefits from prior price hikes and easing supply chains helped Campbell's gross profit margin climb 31.6%, from last year's 30.5%. Net sales in its Meals & Beverages segment - Campbell's biggest revenue churner - declined 2%, owing to
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News
- Campbell Soup CEO on Rao's pasta sauce deal: We have now entered our next chapter [Yahoo! Finance]Yahoo! Finance
- Campbell Soup completes $2.33 billion Sovos deal after delays [Yahoo! Finance]Yahoo! Finance
- Campbell Completes Acquisition of Sovos Brands, Inc. [Yahoo! Finance]Yahoo! Finance
- Flagship Food Group Rebrands to Insignia International and Will Unveil New Logo Live at Natural Products Expo West [Yahoo! Finance]Yahoo! Finance
- Flagship Food Group Rebrands to Insignia International and Will Unveil New Logo Live at Natural Products Expo WestBusiness Wire
SOVO
Earnings
- 2/28/24 - Beat
SOVO
Sec Filings
- 3/12/24 - Form 25-NSE
- 3/12/24 - Form S-8
- 3/12/24 - Form POS
- SOVO's page on the SEC website