Campbell's names Mick Beekhuizen CEO as Mark Clouse retires; Q1 adjusted EPS down 2% to $0.89
Campbell's reported first-quarter fiscal 2025 net sales up 10% to $2.8 billion, driven by the Sovos Brands acquisition, while organic net sales fell 1%. Reported diluted EPS was $0.72, down 8%, and adjusted EPS was $0.89, down 2%, with higher net interest expense cited as the main drag. The company reaffirmed its full-year fiscal 2025 guidance and raised its quarterly dividend 5%, while its board named Mick Beekhuizen to succeed Mark Clouse as CEO effective February 1, 2025.
Key points
- Net sales rose 10% to $2.8 billion; organic net sales fell 1% to $2.5 billion
- Diluted EPS was $0.72 versus $0.78; adjusted EPS was $0.89 versus $0.91
- Quarterly dividend increases 5% from $0.37 to $0.39 per share, payable January 27, 2025
- Mick Beekhuizen becomes President and CEO on February 1, 2025, replacing Mark Clouse, who retires January 31, 2025
The filing
Written by AI on Nov 8, 2026, 12:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 03, 2024.
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