The Campbell’s Company (NASDAQ: CPB) on Tuesday announced results for the first quarter of fiscal 2026, reporting a year-over-year decline in sales and adjusted profit. However, earnings topped Wall Street’s expectations.
First-quarter sales decreased to $2.68 billion from $2.77 billion in the corresponding quarter last year. Organic sales were down 1% year-over-year.
Adjusted earnings dropped 13% year-over-year to $0.77 per share in the October quarter, but exceeded estimates. Net earnings attributable to the company were $194 million or $0.65 per share in Q1, compared to $218 million or $0.73 per share last year.
For fiscal year 2026, the management continues to expect net sales to be down 2% to flat compared to fiscal year 2025. Organic sales are expected to be down 1% to up 1%. Adjusted EPS is expected to range between $2.40 and 2.55.