Q3 2025 Campbell's Co Earnings Call Transcript
Key Points
- The Campbell's Co (CPB) exceeded third-quarter earnings expectations, driven by strong performance in the Meals & Beverages division.
- Organic net sales growth of 1% was achieved, marking five consecutive quarters of flat or positive volume across the enterprise.
- The company's soup portfolio continued strong performance, with Campbell's total wet soup growing dollar-share by 0.4 points.
- The Meals & Beverages division saw a 6% increase in organic net sales, led by volume and mix growth.
- The integration of Sovos Brands into Campbell's ERP system is expected to unlock additional back-office savings.
- The Snacks business faced mixed performance due to continued category softness and an increasingly competitive environment.
- Adjusted EPS was down 3% compared to the prior year, impacted by higher adjusted interest expense.
- The company expects adjusted earnings to be at the low end of the guidance range due to slower-than-anticipated recovery in the Snacks business.
- Snacks organic net sales decreased by 5%, driven by lower volume and mix.
- The company faces potential headwinds from tariffs, estimated to impact fiscal '25 adjusted EPS by up to 3 to 5 cents per share.
Good morning, and welcome to the Campbell's Company third quarter fiscal 2025 earnings conference call. Today's conference is being recorded. (Operator Instructions)
I would now like to turn the call over to Rebecca Gardi, Chief Investor Relations Officer at Campbell's. Please go ahead.
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Good morning, and welcome to Campbell's third quarter fiscal 2025 earnings conference call. I'm Rebecca Gardy, Campbell's Chief Investor Relations Officer. Joining me today are Mick Beekhuizen, Chief Executive Officer, and Carrie Anderson, Chief Financial Officer.
Today's remarks have been prerecorded. Once we conclude the prepared remarks, we will transition to a live webcast Q&A session. The presentation, a transcript of management's prepared remarks, and today's earnings press release have been posted to the Investor Relations section on our website, thecampbellscompany.com. Following the conclusion of the Q&A session, a replay of the webcast
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