Campbell's Slashes 13% of Workforce, Guides FY27 Sales Down 2-4%
CPB is trading near its 52-week low of $19.555 (9.9% above the low).
Summary
Campbell's is cutting 1,750 jobs, about 13% of its workforce, and closing two snack plants as part of a $500 million cost-savings program by fiscal 2030. The company swung to a Q4 loss of $69 million, with sales down 8% to $2.14 billion, and guided FY2027 adjusted EPS of $1.65-$1.80, below the $1.83 consensus. It also slashed its dividend 36% to 25 cents a share. Shares tumbled 9.3% to $21.56. This follows the earlier Reuters report on the weak guidance, but adds concrete restructuring details and Q4 financials. The scale of the cuts and the dividend reduction signal management is bracing for a prolonged demand slump in snacks and meals.
At the time of this announcement, CPB was trading at $21.50 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $6.4B. 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.