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Sentiment · FY2026 Q3
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $2.29B | +10.9% | $-0.01 | -101.8% | 29.4% | 11.3% | -0.1% | $147M |
| FY2025 Q1 | $2.77B | +10.1% | $0.72 | -7.7% | 31.3% | 14.3% | 7.9% | $115M |
| FY2025 Q2 | $2.69B | +9.3% | $0.58 | -14.7% | 30.5% | 13.2% | 6.4% | $411M |
| FY2025 Q3 | $2.48B | +4.5% | $0.22 | -50.0% | 29.4% | 12.4% | 2.7% | $50M |
| FY2025 Q4 | $2.32B | +1.2% | $0.49 | +4951.5% | 30.4% | 12.7% | 6.2% | $129M |
| FY2026 Q1 | $2.68B | -3.4% | $0.65 | -9.7% | 29.6% | 12.6% | 7.2% | $97M |
| FY2026 Q2 | $2.56B | -4.5% | $0.48 | -17.2% | 28.0% | 10.6% | 5.7% | $643M |
| FY2026 Q3 | $2.37B | -4.4% | $0.41 | +86.4% | 27.5% | 10.1% | 5.2% | $29M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Peter Galbo | Bank of America | 11 (18%) |
| Jim Salera | Stephens | 9 (0%) |
| Andrew Lazar | Barclays | 9 (11%) |
| Rob Moskow | TD Cowen | 8 (25%) |
| Tom Palmer | JPMorgan | 7 (0%) |
| Ken Goldman | JPMorgan | 6 (33%) |
| Megan Alexander | Morgan Stanley | 6 (17%) |
| Michael Lavery | Piper Sandler | 5 (20%) |
| Dave Palmer | Evercore ISI | 5 (20%) |
| Max Gumport | BNP Paribas | 4 (50%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| JPMorgan | 2 | 13 (15%) |
| Bank of America | 1 | 11 (18%) |
| Barclays | 1 | 9 (11%) |
| Stephens | 1 |
| 9 (0%) |
| TD Cowen | 1 | 8 (25%) |
| Morgan Stanley | 1 | 6 (17%) |
| Piper Sandler | 1 | 5 (20%) |
| Evercore ISI | 1 | 5 (20%) |
Campbell's Q2 FY2026 marked the lowest point in the company's recent trajectory, with Snacks margin collapsing to 7% on deleverage from -6% organic net sales decline and Fresh Bakery execution disruptions. Management responded with aggressive cash preservation measures — eliminating buybacks, freezing the dividend, cutting CAPEX $50M, and announcing a new $100M overhead reduction program — while significantly lowering full-year guidance. The bright spot was Rao's delivering 14.5% consumption growth during the holiday quarter, but it wasn't enough to offset the severity of Snacks deterioration and intensifying competitive pricing pressure from the category leader's permanent everyday price reductions.
Demand | Margin | Competitive Dynamics | Guidance Reliability | Pricing | Revenue Growth | Cost Pressure | Trade Tariffs | |
|---|---|---|---|---|---|---|---|---|
| 2025Q1 | 3 | 2 | 3 | 1 | 3 | 3 | 1 | |
| 2025Q2 | 3 | 3 | 2 | 3 | 1 | 1 | 1 | 1 |
| 2025Q3 | 4 | 2 | 2 | 2 | 1 | 1 | 1 | 2 |
| 2025Q4 | 3 | 2 | 1 | 1 | 1 | 2 | 2 | 4 |
| 2026Q1 | 3 | 2 | 2 | 1 | 1 | |||
| 2026Q2 | 6 | 6 | 5 | 4 | 4 | 1 | 1 |
| '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|
| Demand | 3 | 3 | 4 | 3 | 3 | 6 |
| Margin | 2 | 3 | 2 | 2 | 2 | 6 |
| Competitive Dynamics | 3 | 2 | 2 | 1 | 2 | 5 |
| Guidance Reliability | 1 | 3 | 2 | 1 | 4 | |
| Pricing | 3 | 1 | 1 | 1 | 1 | 4 |
| Revenue Growth | 3 | 1 | 1 | 2 | 1 | |
| Cost Pressure | 1 | 1 | 1 | 2 | 1 | 1 |
| Trade Tariffs | 1 | 2 | 4 |
What CPB and other companies said about each other on FY2026 Q2 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“The La Regina acquisition in the near term is not going to be significant from a cash flow perspective.”
Campbell frames its pending La Regina acquisition as immaterial to near-term cash flow, with a payment before year-end and an optional equity-funded second payment a year out.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
CPB Campbell Soup Company | 1 | -4.5% | |
| CAG Conagra Brands | 5 | -1.9% | |
| GIS General Mills | 4 | -8.4% | |
| HRL Hormel Foods | 6 | +1.3% | |
| KHC Kraft Heinz | 4 | +0.8% | |
| MKC McCormick & Company | 6 | +16.7% | |
| SJM J.M. Smucker Company (The) | 5 | +7.0% |