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Nov 02, 2025
Campbell Soup Q1 2026 Earnings Report
Campbell Soup reported Q1 2026 results with declines in revenue and earnings, but reaffirmed its full-year guidance.
Key Takeaways
Campbell’s saw lower sales and profit margins in Q1 2026, driven by volume declines and cost pressures. Despite this, the company maintained its outlook for the full year and expanded its strategic presence with a stake in La Regina.
Net sales declined 3% to $2.677 billion, primarily due to lower volume/mix.
Adjusted EPS dropped to $0.77, reflecting lower adjusted EBIT.
Campbell acquired a 49% interest in La Regina to solidify its partnership with Rao’s.
The company reaffirmed its full-year fiscal 2026 guidance despite macro challenges.
Revenue by Segment
Forward Guidance
Campbell reaffirmed its FY26 guidance despite sales declines, citing pricing strategies, cost savings, and portfolio optimization.
Positive Outlook
- Reaffirmed FY26 adjusted EPS guidance of $2.40–$2.55.
- Cost savings program delivered $15 million in Q1.
- Strong momentum from Rao’s and upcoming La Regina partnership.
- Stable demand in at-home cooking trends.
- Lower debt and improved productivity initiatives underway.
Challenges Ahead
- Organic sales declined 1% due to volume/mix losses.
- Adjusted gross margin fell 150 basis points YoY.
- Snacks segment continues to face category softness.
- EPS and EBIT declined year over year.
- Pressure from tariffs and supply chain costs persists.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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