The Campbell's Company (CPB) SEC Filings & Earnings Calls
EquiReason read 15 The Campbell's Company SEC filings in the last 12 months. Latest: DEF 14A on 2026-10-07 — Campbell's reported FY2026 results with net sales down 5%, EBIT down 24%, and adjusted EPS down 27%, reflecting demand softness and margin pressure..
Source: SEC EDGAR filings · figures as of 2026-08-02 · read by EquiReason
- Market cap
- 6.2B
- P/E TTM
- 15.9
- Dividend yield
- 7.5%
- 52-week
- —
- Next earnings
- 7 Dec, in 44 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
7 Oct 2026DEF 14ACampbell's reported FY2026 results with net sales down 5%, EBIT down 24%, and adjusted EPS down 27%, reflecting demand softness and margin pressure.earningsopen
Figures in the filing · each found in the filing text
| Net Sales · FY2026 | $9.74B | -5% y/y |
| Organic Net Sales · FY2026 | $9.73B | -2% y/y |
| Earnings Before Interest and Taxes (EBIT) · FY2026 | $852M | -24% y/y |
| Adjusted EBIT · FY2026 | $1.18B | -21% y/y |
| Earnings Per Share (EPS) · FY2026 | $1.31 | -35% y/y |
| Adjusted EPS · FY2026 | $2.17 | -27% y/y |
| Cash Flows from Operations · FY2026 | $1.04B | -8% y/y |
| Free Cash Flow (AIP metric) · FY2026 | $662M | |
| Meals & Beverages Net Sales Change · Meals & Beverages · FY2026 | -4.0% | |
| Snacks Net Sales Change · Snacks · FY2026 | -6.0% |
Risks flagged
Sustained demand weakness
“Net sales of $9.744 billion, a decrease of 5% versus 2025” · word for word
Margin pressure from inflation
“Our fiscal 2026 performance reflects top-line softness and inflation-driven margin headwinds.” · word for word
Long-term incentive payouts at zero
“Our TSR performance over the three-year performance period ending in fiscal 2026 was in the bottom quartile of the Performance Peer Group...resulting in the TSR performance-restricted share units...vesting at 0% of target.” · word for word
5 Oct 20268-K · 8.01Campbell's priced $300M of 8.500% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2057; proceeds used for general corporate purposes.open
Figures in the filing · each found in the filing text
| Aggregate principal amount of notes · 2026-10-05 | $300M | |
| Coupon rate · 2026-10-05 | 8.5% |
Risks flagged
Increased debt burden with 8.5% coupon; subordinated structure adds refinancing risk.
“$300M junior subordinated notes at 8.500% fixed rate; long-dated maturity 2057.”
24 Sep 202610-KCampbell's reported FY2026 results with a 5% revenue decline, 230bps gross margin compression, and a 35% drop in EPS, alongside a dividend cut.earningsopen
Figures in the filing · each found in the filing text
| Net sales · FY2026 | $9.74B | -5% y/y |
| Gross profit margin · FY2026 | 28.1% | |
| Net earnings per share - Diluted · FY2026 | $1.31 | -35% y/y |
| Operating cash flow · FY2026 | $1.04B | -8% y/y |
| Capital expenditures · FY2026 | $361M | -15% y/y |
| Meals & Beverages segment operating earnings · Meals & Beverages · FY2026 | $943M | -14% y/y |
| Snacks segment operating earnings · Snacks · FY2026 | $386M | -28% y/y |
Guidance
Capital expenditures expected to be approximately $300 million in 2027, down from $361 million in 2026. Cost savings initiatives expected to generate annual ongoing savings of approximately $500 million by the end of 2030.
Management expects persistent inflationary pressures and tariff impacts in 2027, plans cost savings initiatives, and reduced capex.
Risks flagged
Tariff exposure
“The estimated net impact of tariffs was approximately $.21 per share in 2026.” · word for word
Trademark impairment risk
“In the fourth quarter of 2026, we recognized impairment charges of $60 million on the Kettle Brand trademark and $57 million on the Cape Cod trademark within the Snacks segment for a total aggregate impact of $117 million” · word for word
Consumer demand weakness
“Net sales decreased 5% in 2026 to $9.744 billion primarily due to unfavorable volume/mix” · word for word
Regulatory risk from 'ultra-processed' food scrutiny
“Heightened scrutiny of 'ultra-processed' foods, including policy proposals outlined in reports by the Make America Healthy Again (MAHA) Commission as well as state legislative activity, could result in new definitions, labeling requirements, marketing restrictions, or reformulation mandates that increase our compliance costs or adversely affect consumer dema”
3 Sep 20268-K · 2.02Q4 FY26 net sales -8% (-1% organic); adjusted EPS -37% to $0.39; full-year adjusted EPS -27% to $2.17; FY27 guidance weak (adj EPS $1.65-1.80, -24% to -17%); dividend reset to accelerate debt reduction; $500M cost savings target by FY30.earningsopen
Figures in the filing · each found in the filing text
| Organic Net Sales Growth · Q4-2026 | -1.0% | |
| Adjusted EBIT · Q4-2026 | $242M | -25% y/y |
| Adjusted EPS · Q4-2026 | $0.39 | -37% y/y |
| Full Year Net Sales · FY2026 | $9.74B | -5% y/y |
| Full Year Adjusted EPS · FY2026 | $2.17 | -27% y/y |
| Cash from operations · FY2026 | $1.00B | |
| Adjusted Gross Profit Margin · Q4-2026 | 28.6% | |
| Meals & Beverages Segment Operating Earnings · Meals & Beverages · Q4-2026 | $181M | -12% y/y |
| Snacks Segment Operating Earnings · Snacks · Q4-2026 | $101M | -34% y/y |
| GAAP EPS · Q4-2026 | $-0.23 |
Guidance
FY27 net sales growth (4)% to (2)% (organic same); adjusted EBIT (12)% to (7)%; adjusted EPS $1.65 to $1.80 (24)% to (17)% decline from FY26 $2.17.
FY27 guidance reflects continued top-line softness and margin pressure; adjusted EPS expected to decline significantly.
Risks flagged
Inflation and tariff-driven cost pressures are significantly impacting margins.
“Cost inflation and other supply chain costs inclusive of the impact from tariffs; adjusted gross margin -190 bps.”
Weak guidance for FY27 with adjusted EPS expected to decline 17-24%.
“FY27 guidance: adjusted EPS $1.65-1.80, representing a decline of 17% to 24% from FY26.”
Dividend reset signals balance sheet stress and need for debt reduction.
“Resetting dividend to accelerate debt reduction.” · word for word
17 Jun 20268-K · 5.02Reported a director or officer change (departure, election, appointment or pay arrangement)open
Risks flagged
Loss of a key transformation executive; transition risk but orderly handover planned.
“Executive departure with transition period; no disruption expected.”
8 Jun 20268-K · 2.02Net Sales $2.37B (-4% y/y); Adjusted EBIT $274M (-24% y/y); Adjusted EPS $0.50 (-32% y/y); Guidance: Organic Net Sales (2)% to (1)%; Adjusted EBIT (20)% to (17)%; Adjusted EPS (26)% to (23)%earningsopen
Figures in the filing · each found in the filing text
| Net Sales · Q3-2026 | $2.37B | -4% y/y |
| Adjusted EBIT · Q3-2026 | $274M | -24% y/y |
| Adjusted EPS · Q3-2026 | $0.50 | -32% y/y |
| Gross Profit Margin · Q3-2026 | 27.5% | |
| Adjusted Gross Profit Margin · Q3-2026 | 27.7% | |
| Cash Flow from Operations (YTD) · FY2026 | $839M | -4% y/y |
| Capital Expenditures (YTD) · FY2026 | $297M | +0% y/y |
Guidance
Organic Net Sales (2)% to (1)%; Adjusted EBIT (20)% to (17)%; Adjusted EPS (26)% to (23)%
Reaffirmed lowered FY guidance reflecting ongoing demand softness and margin pressure from inflation and tariffs.
Risks flagged
Tariff-driven cost inflation pressuring margins.
“cost inflation and other supply chain costs inclusive of the impact from tariffs” · word for word
Top-line softness with volume/mix decline.
“organic net sales decreased 4% primarily driven by lower volume/mix” · word for word
8 Jun 202610-QNet sales $2.37B (-4% y/y); Gross profit margin 27.5; Net earnings attributable to Campbell's $124M (+88% y/y); Guidance: Capital expenditures expected ~$370M in 2026; cost savings target $375M annual by 2028open
Figures in the filing · each found in the filing text
| Net sales · Q3-2026 | $2.37B | -4% y/y |
| Gross profit margin · Q3-2026 | 27.5% | |
| Net earnings attributable to Campbell's · Q3-2026 | $124M | +88% y/y |
| Segment operating earnings - Meals & Beverages · Meals & Beverages · Q3-2026 | $213M | -16% y/y |
| Segment operating earnings - Snacks · Snacks · Q3-2026 | $95M | -32% y/y |
Guidance
Capital expenditures expected ~$370M in 2026; cost savings target $375M annual by 2028
No explicit revenue guidance; expect persistent inflation and tariff pressure; volumes may improve over time but consumer headwinds remain.
Risks flagged
Tariff exposure
“The estimated net impact of tariffs was approximately $.07 per share in the current quarter.” · word for word
Volume decline
“Volume/mix (5)% in Meals & Beverages, (6)% in Snacks”
Cost inflation persistence
“We expect elevated inflationary pressures to persist through the remainder of 2026” · word for word
11 Mar 20268-K · 2.02Adjusted EBIT $282M (-24% y/y); Adjusted EPS $0.51 (-31% y/y); Adjusted Gross Profit Margin 27.7; Guidance: Organic net sales growth from (1)% to +1% to (2)% to (1)%; adjusted EBIT growth from (13)% to (9)% to (20)% to (16)%earningsopen
Figures in the filing · each found in the filing text
| Adjusted EBIT · Q2-2026 | $282M | -24% y/y |
| Adjusted EPS · Q2-2026 | $0.51 | -31% y/y |
| Adjusted Gross Profit Margin · Q2-2026 | 27.7% | |
| Cash Flow from Operations · H1-2026 | $740M | +0% y/y |
| Dividends Paid · H1-2026 | $237M | |
| Share Repurchases · H1-2026 | $26M | |
| Cost Savings Achieved · FY2026 | $180M |
Guidance
Organic net sales growth from (1)% to +1% to (2)% to (1)%; adjusted EBIT growth from (13)% to (9)% to (20)% to (16)%
Guidance cut due to Snacks weakness and storm disruptions; cautious outlook for balance of year.
Risks flagged
Tariff headwinds impacting gross margin and guidance.
“gross impact of tariffs and unfavorable volume/mix” · word for word
Storm-related shipment disruptions and supply chain costs.
“January storm-related shipment delays and associated supply chain costs impacted net sales by approximately 1%, adjusted EBIT by approximately $14 million” · word for word
Snacks segment underperformance driving guidance cut.
“weaker-than-expected performance in Snacks” · word for word
11 Mar 202610-QCampbell's reported Q2 2026 earnings with net sales down 5%, gross margin down 250 bps, and EPS down 17%, driven by cost inflation, tariffs, and volume declines.earningsopen
Figures in the filing · each found in the filing text
| Net Sales · Q2-2026 | $2.56B | -5% y/y |
| Gross Profit Margin · Q2-2026 | 28.0% | |
| Net Earnings · Q2-2026 | $145M | -16% y/y |
| Adjusted EPS · Q2-2026 | $0.50 | -32% y/y |
| Operating Cash Flow · H1-2026 | $740M | +0% y/y |
| Capital Expenditures · H1-2026 | $227M | +8% y/y |
| Share Repurchases · H1-2026 | $26M | -54% y/y |
Guidance
FY2026 capex expected ~$370M; cost savings target $375M annual by 2028
Management expects inflationary pressures to moderate through 2026 but volumes to remain under pressure; cost savings initiatives are expected to offset some headwinds.
Risks flagged
Tariff Exposure
“The estimated net impact of tariffs was approximately $.06 per share in the current quarter.” · word for word
Volume Decline
“Net sales decreased 5% in the quarter to $2.564 billion primarily due to unfavorable volume/mix” · word for word
Geopolitical Conflict Risk
“On February 28, 2026, a military conflict commenced in the Middle East involving the United States, Israel and Iran. ... could lead to significant disruption of energy supplies and increases in global energy prices” · word for word
15 Dec 20258-K · 8.01Notes principal amount 550,000,000; notes interest rate 4.55open
Figures in the filing · each found in the filing text
| notes principal amount · 2025-12-11 | $550M | |
| notes interest rate · 2025-12-11 | $4.55 |
9 Dec 20258-K · 7.01Net sales $4.07B; Segment operating earnings $1.10B; Segment operating earnings $538Mopen
Figures in the filing · each found in the filing text
| Net sales · Snacks · FY2025 | $4.07B | |
| Segment operating earnings · Meals & Beverages · FY2025 | $1.10B | |
| Segment operating earnings · Snacks · FY2025 | $538M |
Risks flagged
No new risks identified; segment recast only.
“No risk factor changes.”
9 Dec 202510-QCampbell's reported Q1 2026 earnings with net sales down 3%, gross margin down 170 bps, and EPS down 10% year-over-year, citing tariff and cost inflation headwinds.earningsopen
Figures in the filing · each found in the filing text
| Net Sales · Q1-2026 | $2.68B | -3% y/y |
| Gross Profit Margin · Q1-2026 | 29.6% | |
| Net Earnings Attributable to Campbell's · Q1-2026 | $194M | -11% y/y |
| Operating Cash Flow · Q1-2026 | $224M | -0% y/y |
| Capital Expenditures · Q1-2026 | $127M | +16% y/y |
| Share Repurchases · Q1-2026 | $24M | -56% y/y |
Risks flagged
Tariff-driven margin pressure
“The estimated net impact of tariffs was approximately $.04 per share in the current quarter.” · word for word
Volume decline
“shifting consumer behaviors may continue to negatively impact our volumes throughout 2026.” · word for word
Litigation expenses
“we recorded litigation expenses in Administrative expenses of $10 million ($7 million after tax, or $.02 per share) related to the Plum baby food and snacks business (Plum), which was divested on May 3, 2021, and certain other litigation matters.” · word for word
9 Dec 20258-K · 2.02Net Sales $2.68B (-3% y/y); Adjusted EBIT $383M (-11% y/y); Adjusted EPS $0.77 (-13% y/y)earningsopen
Figures in the filing · each found in the filing text
| Net Sales · Q1-2026 | $2.68B | -3% y/y |
| Adjusted EBIT · Q1-2026 | $383M | -11% y/y |
| Adjusted EPS · Q1-2026 | $0.77 | -13% y/y |
| Adjusted Gross Profit Margin · Q1-2026 | 29.9% | |
| Cash Flow from Operations · Q1-2026 | $224M | -0% y/y |
| Capital Expenditures · Q1-2026 | $127M | +16% y/y |
| Dividends Paid · Q1-2026 | $120M | |
| Share Repurchases · Q1-2026 | $24M | |
| Cost Savings Achieved · Q1-2026 | $160M |
Guidance
Reaffirmed full-year fiscal 2026 guidance; cost savings program on track; acquisition strengthens Rao's growth.
Risks flagged
Tariff headwinds and cost inflation pressuring margins.
“Cost savings to help offset tariff headwinds; gross margin down 150bps due to cost inflation and tariffs.”
Snacks category softness continues.
“Snacks business continues to weather category softness.” · word for word
9 Dec 20258-K · 1.01, 3.02Acquisition Consideration $286Mopen
Figures in the filing · each found in the filing text
| Acquisition Consideration | $286M |
Risks flagged
Integration risk for La Regina acquisition.
“Acquisition of 49% interest; integration and partnership execution risk.”
The Campbell's Company — questions
- What did The Campbell's Company file recently?
- 15 SEC filings in the last 12 months. Latest: DEF 14A on 2026-10-07 — Campbell's reported FY2026 results with net sales down 5%, EBIT down 24%, and adjusted EPS down 27%, reflecting demand softness and margin pressure.
Every figure on this page comes from The Campbell's Company's own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.