Campbell's slides after weak earnings, dividend cut; food peers also dip
Campbell's Company (CPB) shares fell sharply after missing Q4 revenue estimates, with net sales down 8% and adjusted EPS dropping 37% to $0.39 due to inflation-driven margin pressures. The company announced a 36% dividend cut to $1.00 annually and launched a $500M cost savings program by FY30. Full-year guidance was set below expectations. Peers Hershey, Mondelez, General Mills, and Post Holdings also saw declines.
