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Campbell Soup Co (CPB)

CPB on New York Consolidated

45.51USD
12 Jan 2018
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Latest Key Developments (Source: Significant Developments)

Campbell Soup Says Entered Into Three-Year Credit Agreement With Credit Suisse, Cayman Islands Branch ‍​
Friday, 29 Dec 2017 04:42pm EST 

Dec 29 (Reuters) - Campbell Soup Co ::CAMPBELL SOUP CO - ENTERED INTO A THREE-YEAR CREDIT AGREEMENT WITH CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH ‍​.CAMPBELL SOUP - SUBJECT TO TERMS OF AGREEMENT, LENDERS PROVIDED CO WITH SINGLE DRAW, UNSECURED, SENIOR TERM LOAN CREDIT FACILITY OF $1.20 BILLION.CAMPBELL SOUP- PROCEEDS OF LOANS UNDER CREDIT AGREEMENT CAN ONLY BE USED FOR ACQUISITION BY CO OF SNYDER'S-LANCE, PAYMENT OF RELATED FEES - SEC FILING.  Full Article

Campbell Soup Co Says Snyder's-Lance Deal Represents Enterprise Value Of About $6 Bln
Monday, 18 Dec 2017 08:07am EST 

Dec 18 (Reuters) - Campbell Soup Co ::CAMPBELL SOUP CO - SNYDER'S-LANCE DEAL REPRESENTS ENTERPRISE VALUE OF ABOUT $6 BILLION - SEC FILING‍​.CAMPBELL SOUP CO - SNYDER'S-LANCE DEAL EXPECTED TO BE 5-7% ACCRETIVE TO FY 2019 EPS.CAMPBELL SOUP-UNDER MERGER AGREEMENT, SNYDER'S-LANCE WILL PAY A TERMINATION FEE OF $149 MILLION TO CO IF DEAL IS TERMINATED DUE TO CERTAIN CONDITIONS‍​.CAMPBELL SOUP-UNDER MERGER AGREEMENT, CO WOULD PAY A TERMINATION FEE OF $50 MILLION TO SNYDER'S-LANCE, IN CERTAIN CIRCUMSTANCES, IF DEAL IS TERMINATED.CAMPBELL SOUP CO SAYS $275 MILLION - $325 MILLION OF EXPECTED ONE-TIME COSTS FROM SNYDER'S-LANCE DEAL.  Full Article

Campbell To Acquire Snyder’S-Lance, Inc For $4.87 bln
Monday, 18 Dec 2017 07:30am EST 

Dec 18 (Reuters) - Snyder's-Lance Inc ::CAMPBELL TO ACQUIRE SNYDER’S-LANCE, INC. TO EXPAND IN FASTER-GROWING SNACKING CATEGORY.SNYDER'S-LANCE INC - DEAL FOR ‍$50.00 PER SHARE IN AN ALL-CASH TRANSACTION​.SNYDER'S-LANCE INC - ‍EXPECTS APPROXIMATELY $170 MILLION IN COST SYNERGIES BY END OF FISCAL 2022​.SNYDER'S-LANCE INC - CAMPBELL PLANS TO FINANCE ACQUISITION THROUGH $6.2 BILLION OF DEBT COMPRISING A COMBINATION OF LONG-TERM AND SHORT-TERM DEBT.SNYDER'S-LANCE INC - ‍EXPECTS APPROXIMATELY $170 MILLION IN COST SYNERGIES BY END OF FISCAL 2022 FROM DEAL​.SNYDER'S-LANCE INC - ‍CAMPBELL'S ANNUAL NET SALES EXPECTED TO EXCEED $10 BILLION​.SNYDER'S-LANCE INC - ‍ACQUISITION EXPECTED TO BE ACCRETIVE TO CAMPBELL'S EARNINGS PER SHARE IN FISCAL 2019​.SNYDER'S-LANCE INC - ‍SNYDER'S-LANCE WILL BECOME PART OF CAMPBELL'S GLOBAL BISCUITS AND SNACKS DIVISION​.SNYDER'S-LANCE INC - ‍CAMPBELL WILL SUSPEND SHARE REPURCHASES TO MAXIMIZE FREE CASH FLOW FOR PURPOSES OF PAYING DOWN DEBT​.SNYDER'S-LANCE INC - ‍CAMPBELL ALSO EXPECTS TO MAINTAIN ITS CURRENT DIVIDEND POLICY​.SNYDER'S-LANCE INC - SOME MEMBERS OF WAREHIME FAMILY, WHO OWN 13.2 PERCENT OF CO'S STOCK, HAVE AGREED TO VOTE THEIR SHARES IN SUPPORT OF DEAL.SNYDER'S-LANCE INC - ‍ ACQUISITION HAS BEEN APPROVED BY BOARDS OF DIRECTORS OF BOTH COMPANIES​.SNYDER'S-LANCE -WITH ADDITION OF CO'S COMPLEMENTARY PORTFOLIO, SNACKING WOULD REPRESENT ABOUT 46 PERCENT OF CAMPBELL'S ANNUAL NET SALES ON PRO FORMA BASIS​.  Full Article

Campbell Soup In Advanced Talks To Acquire Snyder's-Lance - CNBC
Friday, 15 Dec 2017 04:08pm EST 

Dec 15 (Reuters) - :CAMPBELL SOUP IN ADVANCED TALKS TO ACQUIRE SNYDER'S-LANCE IN A DEAL THAT COULD BE ANNOUNCED AS SOON NEXT WEEK‍​ - CNBC, CITING SOURCES.  Full Article

Campbell reports Q1 adjusted earnings per share of $0.92
Tuesday, 21 Nov 2017 07:15am EST 

Nov 21 (Reuters) - Campbell Soup Co :Campbell reports first-quarter results.Q1 adjusted earnings per share $0.92.Q1 earnings per share $0.91.Q1 earnings per share view $0.97 -- Thomson Reuters I/B/E/S.Q1 sales $2.161 billion versus I/B/E/S view $2.17 billion.Campbell Soup Co - ‍updates fiscal 2018 guidance​.Campbell Soup Co - ‍for full fiscal year, Campbell still expects year-over-year change in net sales to be -2 to 0 percent​.Campbell Soup Co - ‍current quarter included pre-tax charges related to cost savings initiatives of $19 million, or $0.04 per share​.Campbell Soup Co - qtrly‍ Americas Simple Meals and Beverages sales decreased 5 percent to $1.218 billion​.Campbell Soup Co qtrly ‍sales of U.S. Soup decreased 9 percent​.Campbell Soup - ‍for full fiscal year lowered earnings outlook & now expects adjusted EBIT to change by -4 to -2 percent and adjusted EPS to change by -3 to -1 percent​.Campbell Soup Co - sees fiscal 2018 ‍adjusted EPS to change by -3 to -1 percent, or $2.95 to $3.02 per share​.Campbell Soup Co says "‍this was a difficult quarter, particularly for our U.S. Soup business​".Campbell Soup- ‍change in guidance for adjusted EBIT,adjusted EPS due primarily to co's gross margin performance in Q1 & revised outlook for balance of fiscal year​.Campbell Soup - ‍"operating environment remains volatile with a rapidly evolving retailer landscape and competitive activity pressuring the top line​".FY earnings per share view $3.05 -- Thomson Reuters I/B/E/S.  Full Article

Campbell provides update on pending acquisition of Pacific Foods
Wednesday, 27 Sep 2017 05:26pm EDT 

Sept 27 (Reuters) - Campbell Soup Co :Campbell provides update on pending acquisition of Pacific Foods.Campbell Soup Co - ‍notified Pacific Foods that company has 60 days under terms of merger agreement to resolve issues arising from AUg. 21 suit ​.Campbell Soup Co - ‍after 60-day period, Campbell has option to extend cure period or terminate merger agreement​.  Full Article

Campbell Soup expects "significantly weaker performance" in 1H 2018
Thursday, 31 Aug 2017 11:20am EDT 

Aug 31 (Reuters) - Campbell Soup Co :Campbell Soup CEO - "I am not happy with Campbell Fresh performance... We expect the unit to return to profitable growth in fiscal 2018".Campbell Soup CEO - expect ProteinPLUS drinks merchandising ramp up in Q1 2018.Campbell Soup CEO - expect ProteinPLUS drinks to return to profitable growth in 2018.Campbell Soup CEO - do not expect V8 vegetable juice business to return to growth in fiscal 2018.Campbell Soup CEO - expect additional headwinds in soup sales as "we are unable to reach an agreement with a large customer for a promotional program for soups" -conf call.Campbell Soup CEO - expects soup sales to decline in fiscal 2018 -conf call.Campbell Soup CEO - expects sales to decline in Americas Simple Meals and Beverage business in 2018 due to challenges in soup sales and V8 vegetable juices -conf call.Campbell Soup CFO - ended 2017 with savings of $325 million -conf call.Campbell Soup CFO - promotional spending was up in Americas Simple Meals and Beverages products in Canada -conf call.Campbell Soup CFO - in Campbell Fresh, experienced higher carrot costs and costs related to beverage supply constraints -conf call.Campbell Soup CFO - expect significantly weaker performance in the 1H and relatively better performance in 2H of fiscal 2018 -conf call.Campbell Soup CFO - expects an increase in rate of cost inflation and face an incentive compensation headwind representing 2 percent points of EBIT in 2018 -conf call.  Full Article

Campbell Soup reports Q4 adjusted earnings per share of $0.52
Thursday, 31 Aug 2017 07:15am EDT 

Aug 31 (Reuters) - Campbell Soup Co :Campbell reports fourth-quarter and full-year results.Q4 adjusted earnings per share $0.52.Q4 earnings per share $1.04.Q4 sales $1.664 billion versus I/B/E/S view $1.69 billion.Q4 earnings per share view $0.55 -- Thomson Reuters I/B/E/S.Sees expects 2018 sales to change by -2 to 0 percent.Looking ahead to fiscal 2018, co expects operating environment to remain difficult.Sees 2018 adjusted earnings before interest and taxes (EBIT) to change by -1 to 1 percent.Sees 2018 adjusted EPS to change by 0 to 2 percent, or $3.04 to $3.11 per share.Campbell Soup Co - ‍in Q4, Global Biscuits And Snacks was soft on top line but generated a solid double-digit earnings increase versus year-ago quarter​.Campbell Soup - ‍in quarter, while Campbell fresh sales increased slightly, bottom line was disappointing, expect to return to profitable growth going forward​.Campbell Soup Co - qtrly ‍sales of U.S. Soup decreased 4 percent driven by declines in condensed soups, broth and ready-to-serve soups​.Campbell Soup Co - ‍Americas Simple Meals And Beverages sales in quarter decreased 3 percent to $815 million​.FY2018 earnings per share view $3.19, revenue view $8.01 billion -- Thomson Reuters I/B/E/S.Campbell Soup Co - ‍in fiscal 2017, increased successful multi-year cost savings initiative to $450 million by end of fiscal 2020​.  Full Article

Campbell takes actions to reshape portfolio toward faster-growing spaces outlines fiscal 2018 priorities
Wednesday, 19 Jul 2017 03:30pm EDT 

July 19 (Reuters) - Campbell Soup Co :Campbell takes actions to reshape portfolio toward faster-growing spaces; outlines fiscal 2018 priorities.Campbell Soup Co - ‍Expects to convert to chicken with no antibiotics for all soups in its portfolio by end of calendar year​.Campbell Soup Co - ‍Campbell anticipates adding about $200 million in sales across its three divisions over next five years​.Campbell Soup Co - Has a goal of generating $300 million in e-commerce sales over next five years.Campbell Soup Co - ‍Plans to complete transition of all soups in U.S. and canada to non-bpa lined cans "for upcoming soup season​".  Full Article

Campbell reaffirms its full-year guidance for fiscal 2017
Wednesday, 19 Jul 2017 07:30am EDT 

July 19 (Reuters) - Campbell Soup Co :Campbell to provide update on growth strategies and outline key initiatives for fiscal 2018.Campbell Soup Co - ‍Campbell reaffirmed its previous full-year guidance for fiscal 2017​.Campbell reaffirmed its previous full-year guidance for fiscal 2017,.Campbell Soup - ‍expects to reach about $310 million in annual cost savings by end of fiscal 2017​.Campbell Soup - continues to expect current cost savings initiatives to deliver $450 million, or about 6 percent of sales by end of fiscal 2020​.Campbell Soup - ‍reiterated its long-term targets for organic sales and earnings​.Campbell - Expects adjusted gross margin of about 38 percent for FY 2017, expects to generate about $1.25 billion in cash flow from operations in fiscal 2017​.  Full Article

BRIEF-Campbell Soup Says Entered Into Three-Year Credit Agreement With Credit Suisse, Cayman Islands Branch ‍​

* CAMPBELL SOUP CO - ENTERED INTO A THREE-YEAR CREDIT AGREEMENT WITH CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH ‍​