Campbell Soup beats Q3 estimates, reaffirms guidance
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Investing.com -- Campbell Soup Company reported better-than-expected third quarter results on Monday, as the food giant benefited from its recent Sovos Brands acquisition and saw improved consumption across income groups.
The company posted adjusted earnings per share of $0.73, surpassing analyst estimates of $0.65. Revenue rose 4% YoY to $2.48 billion, also topping expectations of $2.43 billion. Organic net sales increased 1%, driven by 2% favorable volume/mix, partially offset by planned unfavorable net price realization.
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Campbell’s reaffirmed its full-year fiscal 2025 guidance, with adjusted EPS expected to be between $2.95 and $3.05. The company noted potential headwinds of $0.03-$0.05 per share from tariffs, which are not factored into the outlook.
"We delivered solid third quarter results that exceeded our expectations partially due to favorable shipment timing," said CEO Mick Beekhuizen. "Consumers are cooking at home at the highest levels since early 2020 and turning to our brands for value, quality, and convenience."
The Meals & Beverages segment saw 15% net sales growth, while Snacks sales declined 8%. Campbell’s stock rose 1.7% following the earnings release.
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