Campbell Soup Company (CPB) Q1 2023 Earnings Call Transcript

Campbell Soup Company (NYSE:CPB) Q1 2023 Results Conference Call December 7, 2022 8:00 AM ET

Company Participants

Rebecca Gardy - Chief Investor Relations Officer

Mark Clouse - President and Chief Executive Officer

Mick Beekhuizen - Chief Financial Officer

Conference Call Participants

Andrew Lazar - Barclays

Ken Goldman - JPMorgan

Peter Galbo - Bank of America

Jason English - Goldman Sachs

Chris Growe - Stifel

Michael Lavery - Piper Sandler

Robert Moskow - Credit Suisse

Operator

Greetings, ladies and gentlemen, and welcome to the Campbell Soup Company First Quarter Fiscal 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] As a reminder, this conference call is being recorded.

It is now my pleasure to introduce your host, Rebecca Gardy, Chief Investor Relations Officer. You may begin your conference.

Rebecca Gardy

Good morning, and welcome to Campbell's first quarter fiscal year 2023 earnings conference call. I'm Rebecca Gardy, Chief Investor Relations Officer at Campbell Soup Company. I am joined today by Mark Clouse, Campbell's President and Chief Executive Officer; and Mick Beekhuizen, Campbell's Chief Financial Officer and President of Meals & Beverages.

Today's remarks have been prerecorded. Once we conclude our prepared remarks, we will transition to a live webcast Q&A session. The slide deck and today's earnings press release have been posted to the Investor Relations section of our website, campbellsoupcompany.com. Following the conclusion of the Q&A session, a replay of the webcast will be available at the same location followed by a transcript of the call within 24 hours.

On our call today, we will be making forward-looking statements, which reflect our current expectations. These statements rely on assumptions and estimates, which could be inaccurate and are subject to risk. Please refer to Slide 3 or our SEC filings for a list of factors that could cause our actual results to vary materially from those anticipated in forward-looking statements.

Because we use non-GAAP measures, we have provided a reconciliation of each of these measures to the most directly comparable GAAP measure in the appendix of this presentation. On Slide 4, you will see today's agenda. Mark will share his perspective on our first quarter results as well as in-market performance by division. Mick will discuss the financial results of the quarter in more detail and then review our guidance for the full year fiscal 2023.