Earnings
CPG Week: Reading The Earnings Report Tea Leaves, Whole Foods’ Daily Shop
The Nosh and BevNET team talks cereal struggles, energy drink earnings, up-and-down reports from plant-based industry leaders and Whole Foods’ newest attempt at a smaller footprint store concept.
UNFI Posts Profit Decline, Names New President and CFO
United Natural Foods Inc (UNFI) reported a 0.5% decrease in net sales to $7.8 billion during Q2 2024 in an earnings release this morning, missing analyst revenue expectations but beating share price predictions.
Campbell’s: Q2 Earnings ‘Right Where Expected,’ Readies For Sovos Deal Close
Campbell Soup Company released its second-quarter 2024 earnings with net sales at $2.4 billion, a -1% decline from the year-ago period. The company reported sequential volume improvements and margin growth as it prepares to close the acquisition of Sovos Brands next week.
WK Kellogg: Cereal Business “Stable” As 2024 Volumes Stabilize
WK Kellogg Co reported its first standalone quarterly earnings with net sales up for the FY2023 as the company focuses on supply chain management and operational efficiency.
Kellanova: Earnings Flat In First Report Since Corporate Split
Kellanova reported “better-than-expected results” marked by flat net sales and higher profits in its first full quarter since The Kellogg’s Company split the snacks, meals, frozen and international business from its domestic cereal brands.
Hershey: ‘Historic’ Cocoa Prices Will Limit FY 2024 Earnings Growth
The Hershey Company today reported Q4 net sales grew a modest 0.2% year-over-year to $2.65 billion, reflecting inflationary headwinds such as rising cocoa and sugar prices, which are expected to continue constraining earnings growth in the year to come.
Conagra Brands: Slower-Than-Expected Volume Recovery Hinders Q2 Results
Conagra Brands is increasing investment in innovation, advertising and merchandising to reverse volume declines.
General Mills: Cost Savings Brighten Q2 Sales Slump
General Mills struggled to keep pace in Q2 with the price increase-driven double-digit dollar sales growth of the same period last year, per its quarterly earnings report.
Campbell’s: Q1 Earnings As Expected; Growth From Snack, DSD and Sovos To Come
The Campbell Soup Company celebrated the recovery of sales lost to private brands in 2022 across its top three Thanksgiving-driven categories – results that president and CEO Mark Clouse said indicate a notable shift in consumer behavior and cooling inflationary pressures in Q1.
J.M Smucker: Hostess, Uncrustables and Coffee Bolster Earnings Results
Though margin improvements have helped cushion some of the impact, recent pet brand divestments helped push net sales at J.M. Smucker Co. were down 12% during Q2 according to the company’s latest earnings report.