Campbell Soup - Higher-Margin Products and Cost-Cutting Measures Should Boost Earnings
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Business drivers: Campbell Soup (CPB) is one of the leading US manufacturers of ready-made soups and other ready-made meals such as pasta sauces and snacks. The company has recently strengthened its position in higher-margin product segments with the acquisition of Sovos Brands, among other things. As the cost-cutting program was recently increased from $275 million to $350 million, margins should continue to improve in the medium term. On September 3, Campbell Soup surprised with better-than-expected Q3 results. Adjusted earnings per share...
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