The earnings call presented a mixed picture with some positive developments in brand performance and cost savings, but also significant challenges from declining organic sales, reduced EBIT and EPS, and the looming impact of tariffs.

Company Guidance

During the Campbell Soup Company's fourth quarter fiscal 2025 earnings call, several key metrics and guidance for fiscal 2026 were discussed. The company reported a slight overperformance compared to expectations, with net sales up 1% and adjusted EBIT and adjusted EPS down 2% year-over-year. Organic net sales for the quarter declined 3%, primarily due to shipment timing reversals from Q3. Full-year fiscal 2025 net sales grew by 6%, largely driven by the acquisition of Sovos Brands, while adjusted EBIT increased by 2%. For fiscal 2026, Campbell anticipates a 4% tariff impact on the cost of products sold and aims to mitigate approximately 60% of this through various strategies. Guidance for fiscal 2026 includes reported net sales expected to decrease by 2% to flat and organic net sales ranging from a 1% decline to a 1% increase. Adjusted EBIT is projected to decline between 9% and 13%, with adjusted EPS expected to be down 12% to 18%. The quarter's in-market consumption decreased by 1%, while full-year organic net sales declined by 1% due to volume and mix pressures. Campbell also increased its cost savings target to $375 million by fiscal 2028, a 50% increase from the previous estimate, to counterbalance the tariff impact and support brand investment and innovation.

Slightly Ahead of Expectations

Fourth-quarter earnings performance was slightly ahead of expectations, despite the challenging operating environment.

Strong In-Market Performance

Meals and Beverages in-market consumption outpaced the category, driven by at-home cooking trends.

Rao's Brand Performance

Rao's brand returned to high single-digit consumption growth, contributing positively to the Italian sauce category.

Milano White Chocolate Success

Milano White Chocolate innovation led to a 27% increase in dollar consumption for the Milano brand.

Progress in Cost Savings

Delivered $145 million in cost savings in fiscal 2025, exceeding expectations and increasing the target to $375 million by fiscal 2028.

Campbell Soup (CPB) Earnings, Revenues Date & History

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CPB Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Dec 03, 2025	2026 (Q1)	0.75 / -	0.89	―	―	―
Sep 03, 2025	2025 (Q4)	0.56 / 0.62	0.63	-1.59% (-0.01)
Jun 02, 2025	2025 (Q3)	0.65 / 0.73	0.75	-2.67% (-0.02)
Mar 05, 2025	2025 (Q2)	0.72 / 0.74	0.8	-7.50% (-0.06)
Dec 03, 2024	2025 (Q1)	0.87 / 0.89	0.91	-2.20% (-0.02)
Aug 29, 2024	2024 (Q4)	0.62 / 0.63	0.5	26.00% (+0.13)
Jun 05, 2024	2024 (Q3)	0.71 / 0.75	0.68	10.29% (+0.07)
Mar 06, 2024	2024 (Q2)	0.77 / 0.80	0.8	0.00% (0.00)
Dec 06, 2023	2024 (Q1)	0.88 / 0.91	1.02	-10.78% (-0.11)
Aug 31, 2023	2023 (Q4)	0.50 / 0.50	0.56	-10.71% (-0.06)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CPB Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Sep 03, 2025	$31.46	$33.73	+7.22%
Jun 02, 2025	$33.62	$33.83	+0.62%
Mar 05, 2025	$39.44	$38.32	-2.84%
Dec 03, 2024	$44.11	$41.36	-6.23%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.