Key facts
- Campbell's Co reaffirmed 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.
Campbell's reaffirmed its annual forecast, reporting Q3 adjusted EPS of 50 cents, beating estimates, despite a 4% drop in net sales to $2.37 billion. The company cited strained US consumer spending and rising costs, but expects to offset impacts through cost savings and price hikes.
Campbell's reaffirmed its annual targets despite falling sales and strained consumer spending, indicating a focus on cost-saving measures and operational efficiency to navigate current economic pressures.
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.
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.