Several companies across the industry reported quarterly earnings this week, including J.M. Smucker (SJM), Sphere Entertainment (SPHR), Campbell Soup Company (CPB), Lovesac (LOVE), Lululemon (LULU), and GitLab (GTLB). Yahoo Finance spoke to CEOs, experts, and analysts to break down everything investors need to know, including the winners and losers from this week's results. J.M. Smucker (00:00:03): J.M. Smucker posted better-than-expected results for its fiscal second quarter. J.M. Smucker CEO Mark Smucker broke down the company results. "Our entire portfolio is actually performing exceptionally well," Smucker said. "Recently though we actually took a price decline on coffee because commodity costs have come down, and that takes a little pressure off the consumer." Sphere Entertainment (00:00:22): Sphere Entertainment, the owner of the Las Vegas Sphere, posted adjusted income in its first public quarter since the venue opened. Yahoo Finance Entertainment Reporter Alexandra Canal discussed the company expectations. Canal said, "Even though it's only been in operation for a little over two months, its U2 residency has had a lot of success, along with the Darren Aronofsky film 'Postcard From Earth.' Combined those events have brought in more than $75 million for the company so far." Campbell Soup Company (00:00:55): Campbell Soup Company beat analyst expectations when it reported fiscal first-quarter adjusted earnings. Campbell Soup CEO Mark Clouse broke down the quarterly results. Clouse said, "We were lapping the best quarter certainly I had since I had been here of a 15 percent growth rate, and it was a monster quarter as it related to soup in particular." Lovesac (00:01:20): Lovesac posted a 14.3% year-over-year growth in net sales and 36.3% year-over-year rise in gross profit in the third quarter. Lovesac CEO Shawn Nelson discussed the company outlook. "It's unique for the home category because we're experiencing a big hangover after Covid," Nelson said. "But then again it's unique for Lovesac because we've been on such an uptick as we've built the brand over these past few years very intensely and had a lot of success." Lululemon (00:01:58): Lululemon reported third-quarter results that topped Wall Street estimates on both the top and bottom lines, but the fourth quarter revenue guidance was short of expectations. Brian Nagel, Oppenheimer Senior Analyst, broke down future growth potential for the company. "I think you had a pretty nice beat in the third quarter," Nagel said. "They gave specific guidance for Q4, which is slightly below the Street. There's nothing in this support that suggests to me that the underlying business of Lululemon is slowing." GitLab (00:02:27): GitLab made a profit in the third quarter and raised guidance. GitLab CEO Sid Sijbrandij discussed the company's stronger-than-expected results. Sijbrandij said, "Every company has to get better at making software. Companies are seeing that they now have like 15 different tools to create software, and they have to hop between each and every one of them to get it out the door. We consolidate that into one platform." Video highlights: 00:00:03 - J.M. Smucker CEO Mark Smucker 00:00:22 - Yahoo Finance Entertainment Reporter Alexandra Canal 00:00:55 - Campbell Soup CEO Mark Clouse 00:01:20 - Lovesac CEO Shawn Nelson 00:01:58 - Oppenheimer Senior Analyst Brian Nagel 00:02:27 - GitLab CEO Sid Sijbrandij
Campbell Soup Company (NYSE:CPB) Q1 2024 Earnings Call Transcript December 6, 2023 Campbell Soup Company beats earnings expectations. Reported EPS is $0.91, expectations were $0.87. Operator: Greetings, ladies and gentlemen, and welcome to the Campbell Soup Company First Quarter Fiscal 2024 Earnings Conference Call. At this time, all participants are in listen-only mode. After today’s […]
When Campbell Soup (CPB) CEO Mark Clouse made the transition from the military to the business world, his first role was part of Kraft’s, now Kraft Heinz (KHC), Junior Military Officer program. Now, more than 25 years later, Clouse is not the only leader who has gone from that Junior Military Officer program to CEO. Some of his military peers include: Hostess Brands CEO Andy Callahan, UTZ (UTZ) Brands CEO Howard Friedman, and Diageo (DEO) CEO Debra Crew. Clouse talks with Yahoo Finance Executive Editor Brian Sozzi about the rise of these business leaders and the value Junior Military Officer programs can bring to both veterans and businesses, including Campbell Soup. “They're bringing leadership, complex project management, problem solving, and then we build the business knowledge,” says Clouse. For the full conversation with Clouse, click here. For more of our Lead This Way series, click here, and tune in to Yahoo Finance every Thursday at 3 p.m. ET.