Campbell's Slashes 13% of Salaried Jobs, Cuts Dividend 36% in Turnaround Push
CPB is trading near its 52-week low of $19.555 (11% above the low) on elevated volume (3.8× avg).
Summary
Campbell's is cutting over 550 salaried jobs (13% of salaried workforce) and closing two snack plants as part of a $500 million cost-savings program. The company also slashed its quarterly dividend 36% to 25 cents and guided FY2027 adjusted EPS to $1.65-$1.80, below the $1.83 consensus, with net sales expected to decline 2-4%. Q4 swung to a $69 million loss from a $145 million profit a year ago, with snacks sales down 12%. This follows the earlier report of 1,750 total job cuts and adds specific salaried workforce details and full financial guidance. The stock fell 7.2% on the news, extending its year-to-date decline to over 20%.
At the time of this announcement, CPB was trading at $21.75 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $6.5B. The 52-week trading range was $19.56 to $34.18. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.