CPB reports lower earnings and net sales; cuts dividend, launches $500M cost plan
CPB said net sales and earnings declined year-over-year amid volume/mix pressures and inflation, and the prior-year extra week absence. It launched a $500 million cost savings program, reduced its dividend to accelerate debt reduction, and noted impairment charges.
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11:18:24 AM UTC
SquawkNews
Net sales and earnings declined year-over-year due to volume/mix pressures, inflation, and the absence of an extra week in the prior year. A new $500 million cost savings program was launched, the dividend was reduced to accelerate debt reduction, and impairment charges impacted results.Original do…
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