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EX - 99.1 2 exhibit991 - q22021.htm EX - 99.1 FOR IMMEDIATE RELEASE ● Campbell's ● CAMPBELL REPORTS SECOND - QUARTER FISCAL 2021 RESULTS ; PROVIDES FISCAL 2021 GUIDANCE Earnings Per Share ( EPS ) from Continuing Operations of $ 0.80 increased 43 % . Adjusted EPS of $ 0.84 increased 17 % . Earnings Before Interest and Taxes ( EBIT ) increased 15 % to $ 401 million . Adjusted EBIT increased 8 % to $ 393 million . Net Sales increased 5 % reflecting continued elevated demand for Campbell's brands . Fiscal 2021 Adjusted EPS guidance of $ 3.03 to $ 3.11 , reflecting growth of 3 % to 5 % . CAMDEN , N.J. , Mar. 10 , 2021 — Campbell Soup Company ( NYSE : CPB ) today reported results for its second quarter fiscal 2021 ended January 31 , 2021 . Jan. 31 , 2021 Continuing Operations ( $ in millions , except per share ) Net Sales As Reported ( GAAP ) Organic Earnings Before Interest and Taxes ( EBIT ) As Reported ( GAAP ) Adjusted Diluted Earnings Per Share As Reported ( GAAP ) $ 0.56 43 % $ 1.82 $ 1.12 63 % $ 0.80 $ 0.84 Adjusted $ 0.72 17 % $ 1.86 $ 1.51 23 % Note : A detailed reconciliation of the reported ( GAAP ) financial information to the adjusted financial information is included at the end of this news release . $ 2,279 Three Months Ended $ 401 $ 393 Jan. 26 , 2020 % Change $ 2,162 $ 350 $ 364 5 % 5 % 15 % 8 % Jan. 31 , 2021 $ 4,619 Six Months Ended Jan. 26 , 2020 $ 862 $ 856 $ 4,345 $ 667 $ 756 % Change 6 % 7 % 29 % 13 % CEO Comments Mark Clouse , Campbell's President and CEO , said , " We delivered another quarter of strong results , with top - line growth in both segments - partly tempered by foodservice and supply constraints caused by COVID - 19 — as well as continued growth in EBIT and EPS . In addition , nearly 75 % of our brands grew or held share which was an important goal for the quarter . Given this strong performance , we are providing full - year fiscal 2021 guidance and we are confident in the long - term growth potential of Campbell . "