Campbell's Earnings Slide as Snack Sales Slump

Food giant lowers full-year guidance amid weakness in its snacks business

Mar. 11, 2026 at 5:51pm

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Campbell's, the company behind brands like Goldfish crackers and Pepperidge Farm cookies, reported weaker-than-expected fiscal second-quarter earnings and sales, citing softness in its snacks business. The company also lowered its full-year guidance for both sales and profit, signaling a challenging year ahead for one of the largest U.S. food companies.

Why it matters

Snack foods are a major profit driver for Campbell's, so weak demand raises concerns about consumer spending on packaged foods. The lower outlook suggests the company is facing headwinds that could impact its performance throughout the year.

The details

Campbell's reported adjusted earnings of $0.51 per share on net sales that declined 5% year-over-year to $2.56 billion. Analysts had expected $0.57 and $2.61 billion, respectively. CEO Mick Beekhuizen said the results "fell short of our expectations due to weaker-than-expected performance in Snacks and storm-related shipment disruptions." To stabilize the Snacks business, the company is focused on sharpening its value proposition, innovating new products, and improving in-market execution. It is also accelerating cost-saving initiatives to mitigate headwinds and support continued investment in its brands.

  • Campbell's reported its fiscal second-quarter results on March 11, 2026.

The players

Campbell's Company

A major U.S. food company known for its namesake soup brand as well as snack brands like Goldfish, Snyder's of Hanover, and Pepperidge Farm.

Mick Beekhuizen

The CEO of Campbell's Company.

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What they’re saying

“To stabilize Snacks, we are taking decisive action, focused on sharpening our value, new product innovation and in-market execution. We are also accelerating cost-saving initiatives to mitigate cost headwinds and support continued investment in our brands.”

— Mick Beekhuizen, CEO

What’s next

Campbell's will need to demonstrate that its efforts to stabilize the Snacks business and mitigate cost headwinds are effective in order to regain investor confidence and improve its financial performance.

The takeaway

The challenges facing Campbell's Snacks business highlight the competitive and evolving nature of the packaged food industry, where companies must continually innovate and adapt to shifting consumer preferences to maintain profitability.