Campbell Soup (CPB) Earnings Dates, Call Summary & Reports

1,552 Followers

Earnings Data

Report Date

Aug 27, 2026

Before Open (Confirmed)

Period Ending

2026 (Q4)

Consensus EPS Forecast

0.39

Last Year’s EPS

0.62

Same Quarter Last Year

Analyst Consensus

Moderate Sell

Based on 16 Analysts Ratings

Earnings Call Summary

Q3 2026

Earnings Call Date:Mar 11, 2026|

% Change Since:

Earnings Call Sentiment|Neutral

The call presented a mixed picture: clear operational and portfolio initiatives (SG&A reduction plan, RGM improvements, Goldfish stabilization, M&B momentum, tariff refund and acquisition margin benefit) are positives, but significant macro and company‑specific headwinds (potentially 5%–6% inflation, $40M incentive comp reset, gross margin deterioration, Snacks and salty category pressure, share dilution and muted net sales outlook) temper near‑term outlook. Management has active mitigation plans, but risks are substantial and likely to constrain near‑term earnings.

Company Guidance

Management warned of elevated cost pressure for FY27, estimating base inflation ~3% plus an incremental 2–3% (i.e., roughly 5–6% total if oil stays near $100/bbl) with FY26 largely hedged but first‑half FY27 exposure likely; they expect Q4 tariff refunds of ~$0.03–$0.04 per share (direct La Regina piece plus a smaller vendor‑timing piece), a ~70–80 bps margin benefit from the acquisition contribution in Q4, and are working to accelerate parts of a $100 million SG&A takeout over the next couple years (while a $40 million incentive‑comp reset will hit next year). Management said Q4 net sales could be flattish to slightly up but views a -1% to -2% net‑sales scenario as realistic, the company’s GAAP share count is about 300 million (up from ~299M to ~306M including ~7M from the acquisition), Snacks EBIT margin improved sequentially from ~7% to ~10% but remains ~400 bps below last year, Q3 gross margin was down ~240 bps, Goldfish is stabilized (down ~1–2%), multipacks are up ~6% in the last 13 weeks, and they will rely on elevated productivity, RGM (favoring feature/display over TPRs), targeted pricing as a last resort, and consideration of hybrid debt (150–200 bps higher coupon but ~50% equity credit) to restore earnings and reach leverage in the low‑3x range while maintaining the dividend.

Tariff Refund Benefit for Q4

Company projects tariff refunds to provide a $0.03–$0.04 per share benefit in Q4 (part direct refund and part via vendors), partially offsetting higher fuel and logistics costs in the quarter.

Sequential Improvement in Snacks EBIT Margin

Snacks EBIT margin improved from ~7% in Q2 to ~10% in Q3 (≈ +3 percentage points sequentially), driven by lower trade spend and temporarily lower marketing.

Meals & Beverages (M&B) Momentum

M&B showed consistent growth with at‑home cooking trends remaining resilient; consumption running slightly positive and a $30M ERP-related lap from Q3 to Q4 expected to boost Q4 net sales.

Acquisition Contribution to Margin

Recent acquisition (La Regina/Coman contribution) is expected to add ~70–80 basis points to margins as it rolls into the P&L in Q4.

Operational and SG&A Productivity Actions

Company announced a $100M SG&A takeout plan over the next couple of years (early retirement package already implemented) and is accelerating savings and productivity to offset cost pressures.

Goldfish Stabilization and Price-Pack Strength

Goldfish core household-with-kids focus has stabilized over the last two quarters; multipacks are growing ~6% over the last 13 weeks, supporting both volume and mix improvement potential.

Hedging and Near-Term Hedge Coverage

Management stated they are almost fully hedged for Fiscal 2026 (ending July), reducing near-term commodity/energy cost noise for the current fiscal year.

Campbell Soup (CPB) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

CPB Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 27, 2026	2026 (Q4)	0.39 / -	0.62	―	―	―
Mar 11, 2026	2026 (Q2)	0.57 / 0.51	0.74	-31.08% (-0.23)
Mar 11, 2026	2026 (Q3)	0.48 / 0.50	0.73	-31.51% (-0.23)
Dec 09, 2025	2026 (Q1)	0.73 / 0.77	0.89	-13.48% (-0.12)
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)

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
Mar 11, 2026	$24.25	$22.54	-7.05%
Mar 11, 2026	$24.25	$22.54	-7.05%
Dec 09, 2025	$29.08	$27.56	-5.23%
Sep 03, 2025	$30.08	$32.25	+7.21%

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.