CPB: Adjusted EBIT and EPS drop as inflation persists; cost savings and dividend reset
Campbell’s organic net sales fell 1% year-over-year, while adjusted EBIT and EPS fell sharply amid inflation and tough comps. The company launched a $500 million cost savings program and a dividend reset to restore margins and accelerate deleveraging.
Organic net sales declined 1% year over year, while adjusted EBIT and EPS fell sharply as inflation and tough comparisons weighed on results. The Campbell's Company said a $500 million cost savings program and a dividend reset are intended to restore margins and accelerate deleveraging amid ongoing market volatility. Based on The Campbell's Company [CPB] Q4 2…