Key facts
- Campbell's Co maintained its annual financial outlook.
- Third-quarter adjusted earnings per share were 50 cents, exceeding the 48-cent analyst estimate.
- Net sales decreased 4% year-over-year to $2.37 billion.
- Sales in the meals and beverages unit fell 4%, while the snacks unit saw a 4% decline.
- The company expects fiscal 2026 organic net sales to decline between 1% and 2%.
- Campbell's is scheduled to be removed from the S&P 500 index on June 22.
Campbell's Co reaffirmed its annual financial outlook, signaling resilience despite cautious U.S. consumer spending and a 4% year-over-year decline in net sales to $2.37 billion for the third quarter. The company's adjusted earnings per share came in at 50 cents, exceeding the 48-cent analyst estimate, aided by supply-chain optimization and cost-saving programs. Approximately $200 million of a $375 million cost-savings target for fiscal year 2028 has been achieved.
CEO Mick Beekhuizen highlighted a focus on simplifying the business and accelerating productivity. The company's meals and beverages unit saw sales fall 4%, while its snacks business experienced a 4% decline. Campbell's projects fiscal 2026 organic net sales to decrease between 1% and 2%, with adjusted earnings per share expected between $2.15 and $2.25.
In a separate development, Campbell's is slated for removal from the S&P 500 index before the market opens on June 22.