Campbell Soup Company is a manufacturer and marketer of high-quality, branded food and beverage products. The company's core business model involves producing and selling a variety of well-known products through retail and foodservice channels in the U.S. and Canada. Campbell's market position is supported by its established brands and a focus on innovation and efficiency. The company has a significant geographic presence in North America.

The competitive landscape includes numerous competitors of varying sizes across multiple food and beverage categories, including private label producers and other branded food and beverage manufacturers.

• Employees: 14,400 (as of July 28, 2024)
• Geographic Footprint: Primarily in the U.S. and Canada
• Headquarters: Camden, New Jersey
• Founded: 1869 (through predecessor organizations)
• Number of locations/facilities: Multiple manufacturing and distribution facilities across the U.S. and Canada
• Revenue: $9.636 billion (FY2024)
• Market Capitalization: $8.534 billion (as of January 26, 2024)
• Key Subsidiaries/Brands: Campbell's, Swanson, Pacific Foods, Prego, Pace, Rao's, Michael Angelo's, noosa, Pepperidge Farm, Goldfish, Snyder's of Hanover, Lance, Cape Cod, Kettle Brand, Late July, Snack Factory

• CEO: Mark A. Clouse (since 2019)
• CFO: Carrie L. Anderson (since 2023)
• Executive Vice President and President, Meals & Beverages: Mick J. Beekhuizen (since 2020)
• Executive Vice President and President, Snacks: Christopher D. Foley (since 2019)
• Executive Vice President, General Counsel and Corporate Secretary: Charles A. Brawley, III (since 2023)
• Executive Vice President and Chief People and Culture Officer: Diane Johnson May (since 2022)
• Executive Vice President and Chief Supply Chain Officer: Daniel L. Poland (since 2022)
• Executive Vice President and Chief Communications Officer: Anthony J. Sanzio (since 2022)

Key leaders have extensive experience in the food and beverage industry and other relevant sectors.

• Annual Revenue: $9.636 billion (FY2024)
• Net Income: $567 million (FY2024)
• Market Cap: $8.534 billion (as of January 26, 2024)
• Total Assets: $15.235 billion (as of July 28, 2024)
• Number of Employees: 14,400 (as of July 28, 2024)
• Key Financial Highlights: Revenue increased 3% year-over-year, primarily due to the acquisition of Sovos Brands and favorable net price realization, partially offset by unfavorable volume/mix. Earnings per share were $1.89 in 2024, compared to $2.85 a year ago.

Campbell's offers a wide range of food and beverage products, categorized mainly under Meals & Beverages and Snacks:

• Meals & Beverages: Includes Campbell's condensed and ready-to-serve soups, Swanson broth and stocks, Pacific Foods broth, soups and non-dairy beverages, Prego pasta sauces, Pace Mexican sauces, Campbell's gravies, pasta, beans and dinner sauces, Swanson canned poultry, V8 juices and beverages, Campbell's tomato juice, Rao's pasta sauces, dry pasta, frozen entrées, frozen pizza and soups, Michael Angelo's frozen entrées and pasta sauces, and noosa yogurts.
• Snacks: Includes Pepperidge Farm cookies, crackers, fresh bakery and frozen products, including Goldfish crackers, Snyder's of Hanover pretzels, Lance sandwich crackers, Cape Cod potato chips, Kettle Brand potato chips, Late July snacks, Snack Factory pretzel crisps, and other snacking products in retail in the U.S.

The company operates through two reportable segments:

• Meals & Beverages: Consists of soup, simple meals, and beverages products in retail and foodservice in the U.S. and Canada. In FY2024, this segment generated $5.258 billion in revenue.
• Snacks: Consists of cookies, crackers, fresh bakery and frozen products, and other snacking products in retail in the U.S. and Latin America. In FY2024, this segment generated $4.378 billion in revenue.

Campbell's strategic priorities focus on building a top team, optimizing its portfolio, achieving top-tier performance, ensuring winning execution, and creating a lasting impact. Key initiatives include:

• Modernizing manufacturing and distribution networks.
• Driving integrated business planning.
• Enhancing organizational engagement and effectiveness.
• Focusing on revenue management and innovation.
• Pursuing multi-year cost savings initiatives.

The company aims to deliver predictable and consistent growth while strengthening its connection to the communities it serves.

Campbell operates in a highly competitive food and beverage industry, facing competition from numerous companies of varying sizes, including private label producers. Key market trends include:

• Shifting consumer preferences for snacking and convenience.
• Increased retailer buying power and promotion demands.
• Ongoing supply chain and commodity cost volatility.

The company's competitive position is influenced by brand recognition, taste, nutritional value, price, promotion, innovation, shelf space, and customer service. The company's five largest customers accounted for approximately 47% of consolidated net sales in FY2024.

• Business and Operational Risks: The company may not be able to increase prices or sustain price increases to fully offset inflationary pressures on costs, such as raw and packaging materials, labor and distribution costs. Disruption to the supply chain could adversely affect the business.
• Strategic Risks: The company's results may be adversely affected by its inability to complete or realize the projected benefits of acquisitions, divestitures and other strategic transactions. Specifically, the anticipated benefits of the Sovos Brands acquisition may not be fully realized.
• Market Risks: Deterioration of global macroeconomic conditions, including economic recession or slow growth or periods of higher inflation in key markets may adversely affect consumer spending and demand for the company's products.
• Financial Risks: An impairment of the carrying value of goodwill or other indefinite-lived intangible assets could adversely affect the company's financial results and net worth. The company may be adversely impacted by increased liabilities and costs related to its defined benefit pension plans. The company faces risks related to inflation, recession, financial and credit market disruptions and other economic conditions. The company may be adversely impacted by its substantial indebtedness.
• Legal and Regulatory Risks: The company may be adversely impacted by legal and regulatory proceedings or claims. The company may face lawsuits or incur significant fines and penalties if it fails to comply with the many laws applicable to its business. If the company's food products become adulterated or are mislabeled, it might need to recall those items, and it may experience product liability claims and damage to its reputation.