Analyst Consensus ?
ConsensusHold29 ratings
Bullish13.5%
Neutral1758.6%
Bearish1137.9%
Campbell Soup Company · CPB · FY2025 Q3 · Calendar Q2 2025
Campbell: Meals Growth Offsets Snack Weakness, Guidance Maintained
The quarter supports a mixed operating picture rather than a broad-based recovery: meals and beverages remain a growth engine, while the snack business and margin trajectory are the main tests for a stronger earnings outlook.
Reported Before market openNASDAQConsumer Defensive
$5.91B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.73
Consensus $0.65
EPS surprise
+12.3%
Reported versus consensus
Reported revenue
$2.48B
Consensus $2.40B
Revenue surprise
+3.1%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+0.6%
Event window
SPY move
+0.6%
Same window
Abnormal move
+0.1%
Stock minus SPY
Volume
2.6×
Versus trailing sessions
Subsequent drift
-7.5%
Up to 20 sessions
CPBSPY benchmark
Ask FN2 about CPB FY2025 Q3
Transcript, numbers and history already loaded
Why did CPB rise 0.6% after beating EPS estimates in FY2025 Q3?What changed in CPB's guidance and outlook in FY2025 Q3?Give me the bull and bear case for CPB after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Relative to the prior quarter, the analysis shows stronger reported execution in meals and beverages and a maintained full-year outlook, but snacks remained under pressure. Management also quantified tariff exposure, highlighted new digital and growth-management initiatives, and reported higher year-to-date cost savings.
Guidance delta
Full-year guidance was maintained, although management expected adjusted earnings at the low end of the range because snack recovery was slower than anticipated.
Key takeaways
- Meals and beverages delivered double-digit consumption growth and 6% organic sales growth.
- Snacks organic sales declined 5% amid weaker consumer confidence and competition.
- Management cited $0.03-$0.05 per-share tariff exposure and ongoing mitigation efforts.
- Cost savings reached $110 million year to date, while capex was expected at about 4.5% of sales.
- Innovation, price-pack architecture, digital initiatives, and the Growth Office remain key execution priorities.
Management priorities
- Support meals and beverages demand tied to at-home cooking.
- Use snack innovation, distribution, and price-pack architecture to improve performance.
- Continue cost savings, capacity expansion, and network optimization.
- Advance digital capabilities through the Growth Office and Chief Digital & Technology Officer.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$19.25Current
$18Low
$33.8Average
$59High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 1, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Evercore ISI Group | In Line | In Line | Maintain | Sep 14, 2026 |
| DA Davidson | Neutral | Neutral | Maintain | Sep 8, 2026 |
| UBS | Sell | Sell | Maintain | Sep 4, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Sep 4, 2026 |
| Jefferies | Hold | Hold | Maintain | Sep 4, 2026 |
| Barclays | Underweight | Underweight | Maintain | Sep 4, 2026 |
| TD Cowen | Hold | Hold | Maintain | Aug 19, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Aug 18, 2026 |
| Stifel | Hold | Hold | Maintain | Jul 22, 2026 |
| B of A Securities | Underperform | Underperform | Maintain | Jun 9, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jun 5, 2026 |
| Bernstein | Underperform | Market Perform | Downgrade | Jun 3, 2026 |
| Stephens & Co. | Equal Weight | Overweight | Downgrade | Jun 1, 2026 |
| BNP Paribas | Underperform | Underperform | Maintain | Apr 9, 2026 |
| Wells Fargo | Underweight | Underweight | Maintain | Apr 8, 2026 |
| Deutsche Bank | Hold | Hold | Maintain | Mar 30, 2026 |
| Piper Sandler | Neutral | Overweight | Downgrade | Aug 7, 2025 |
| Citigroup | Sell | Sell | Maintain | Jun 3, 2025 |
| Argus Research | Buy | Hold | Upgrade | Sep 20, 2024 |
| Goldman Sachs | Sell | Sell | Maintain | Aug 23, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Mar 9, 2023 |
| Exane BNP Paribas | Underperform | Underperform | Maintain | Nov 15, 2022 |
| R5 Capital | Hold | Buy | Downgrade | Mar 14, 2022 |
| Piper Jaffray | Neutral | Underweight | Upgrade | Sep 4, 2019 |
| Bank of America | Underperform | Underperform | Maintain | Sep 3, 2019 |
| Stifel Nicolaus | Hold | Hold | Maintain | May 21, 2018 |
| Argus | Hold | Buy | Downgrade | May 5, 2018 |
| PiperJaffray | Underweight | Neutral | Downgrade | Mar 1, 2018 |
| CLSA | Perform | Perform | Maintain | Sep 12, 2016 |
Named analyst price targets
Upside is calculated against the persisted current price $19.26. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Evercore ISI | Analyst unavailable | $21 | $21 | +9.1% | Sep 14, 2026 |
| RBC Capital | Analyst unavailable | $19 | $21.27 | -1.3% | Sep 4, 2026 |
| Barclays | Analyst unavailable | $18 | $22.12 | -6.5% | Sep 4, 2026 |
| Jefferies | Analyst unavailable | $20 | $22.12 | +3.9% | Sep 3, 2026 |
| Evercore ISI | Analyst unavailable | $22 | $23.39 | +14.3% | Aug 31, 2026 |
| Stephens | Analyst unavailable | $20 | $23.28 | +3.9% | Aug 28, 2026 |
| UBS | Analyst unavailable | $18 | $23.81 | -6.5% | Aug 20, 2026 |
| Coker Palmer | Thomas Palmer | $22 | $22.68 | +14.3% | Aug 18, 2026 |
| RBC Capital | Analyst unavailable | $21 | $21.49 | +9.1% | Jun 9, 2026 |
| UBS | Analyst unavailable | $17 | $21.49 | -11.7% | Jun 9, 2026 |
| Bernstein | Alexia Howard | $18 | $21.49 | -6.5% | Jun 9, 2026 |
| Barclays | Andrew Lazar | $19 | $21.68 | -1.3% | Jun 8, 2026 |
| Morgan Stanley | Analyst unavailable | $21 | $21.55 | +9.1% | Jun 5, 2026 |
| Bernstein | Analyst unavailable | $19 | $20.99 | -1.3% | Jun 3, 2026 |
| UBS | Analyst unavailable | $19 | $21.26 | -1.3% | Jun 2, 2026 |
| Stephens | Analyst unavailable | $21 | $21.11 | +9.1% | Jun 1, 2026 |
| D.A. Davidson | Brian Holland | $20 | $20.47 | +3.9% | May 22, 2026 |
| Morgan Stanley | Analyst unavailable | $23 | $20.82 | +19.4% | Apr 23, 2026 |
| Stifel Nicolaus | Matthew Smith | $20 | $21.26 | +3.9% | Apr 21, 2026 |
| Barclays | Andrew Lazar | $21 | $19.78 | +9.1% | Apr 14, 2026 |
| BNP Paribas | Analyst unavailable | $19 | $20.79 | -1.3% | Apr 9, 2026 |
| Wells Fargo | Analyst unavailable | $18 | $20.69 | -6.5% | Apr 8, 2026 |
| UBS | Analyst unavailable | $24 | $22.15 | +24.6% | Mar 12, 2026 |
| UBS | Analyst unavailable | $23 | $22.1 | +19.4% | Mar 12, 2026 |
| Barclays | Andrew Lazar | $23 | $22.94 | +19.4% | Mar 12, 2026 |
| Piper Sandler | Analyst unavailable | $28 | $25.29 | +45.4% | Mar 9, 2026 |
| Jefferies | Scott Marks | $26 | $26.95 | +35.0% | Mar 2, 2026 |
| Barclays | Analyst unavailable | $27 | $26.1 | +40.2% | Jan 16, 2026 |
| Morgan Stanley | Megan Clapp | $28 | $26.9 | +45.4% | Jan 16, 2026 |
| RBC Capital | Nik Modi | $30 | $28.17 | +55.8% | Dec 10, 2025 |
| UBS | Analyst unavailable | $26 | $28.47 | +35.0% | Dec 10, 2025 |
| Stifel Nicolaus | Matthew Smith | $30 | $28.47 | +55.8% | Dec 10, 2025 |
| Bernstein | Analyst unavailable | $33 | $28.47 | +71.4% | Dec 10, 2025 |
| Wells Fargo | Chris Carey | $30 | $28.47 | +55.8% | Dec 10, 2025 |
| Stifel Nicolaus | Matthew Smith | $34 | $29.04 | +76.6% | Dec 9, 2025 |
| Stephens | Analyst unavailable | $38 | $29.6 | +97.4% | Dec 8, 2025 |
| Morgan Stanley | Megan Alexander Clapp | $30 | $29.38 | +55.8% | Dec 5, 2025 |
| UBS | Peter Grom | $28 | $29.84 | +45.4% | Dec 4, 2025 |
| D.A. Davidson | Brian Holland | $30 | $31.1 | +55.8% | Nov 17, 2025 |
| UBS | Analyst unavailable | $30 | $31.93 | +55.8% | Aug 29, 2025 |
| Coker Palmer | Thomas Palmer | $33 | $35.48 | +71.4% | May 19, 2025 |
| Bernstein | Alexia Howard | $47 | $39.82 | +144.1% | Apr 3, 2025 |
| Wells Fargo | Analyst unavailable | $40 | $39.79 | +107.7% | Mar 6, 2025 |
| Barclays | Analyst unavailable | $40 | $39.18 | +107.7% | Mar 5, 2025 |
| Piper Sandler | Analyst unavailable | $45 | $39.18 | +133.7% | Mar 5, 2025 |
| Piper Sandler | Michael Lavery | $56 | $42.59 | +190.8% | Dec 5, 2024 |
| Evercore ISI | David Palmer | $48 | $42.82 | +149.3% | Dec 5, 2024 |
| Coker Palmer | Thomas Palmer | $44 | $49.13 | +128.5% | Nov 18, 2024 |
| Bernstein | Alexia Howard | $58 | $47.35 | +201.2% | Oct 7, 2024 |
| Argus Research | Taylor Conrad | $59 | $51.42 | +206.4% | Sep 20, 2024 |
| RBC Capital | Nik Modi | $51 | $49.78 | +164.9% | Sep 13, 2024 |
| Stifel Nicolaus | Matthew Smith | $50 | $50.11 | +159.7% | Sep 11, 2024 |
| Wells Fargo | John Baumgartner | $51 | $50.09 | +164.9% | Sep 11, 2024 |
| Wells Fargo | Chris Carey | $49 | $49.25 | +154.5% | Aug 30, 2024 |
| Goldman Sachs | Ken Goldman | $52 | $45.63 | +170.1% | Jun 26, 2024 |
| Wells Fargo | John Baumgartner | $47 | $43.53 | +144.1% | Jun 7, 2024 |
| RBC Capital | Nik Modi | $47 | $43.42 | +144.1% | May 30, 2024 |
| Coker Palmer | Thomas Palmer | $42 | $46.29 | +118.1% | May 22, 2024 |
| Deutsche Bank | Steve Powers | $48 | $46.46 | +149.3% | May 20, 2024 |
| Bernstein | Alexia Howard | $46 | $46.01 | +138.9% | May 15, 2024 |
| Evercore ISI | David Palmer | $49 | $42.81 | +154.5% | Mar 13, 2024 |
| Stifel Nicolaus | Matthew Smith | $45 | $43.01 | +133.7% | Mar 12, 2024 |
| Piper Sandler | Michael Lavery | $47 | $43.39 | +144.1% | Dec 7, 2023 |
| J.P. Morgan | Ken Goldman | $47 | $41.96 | +144.1% | Aug 31, 2023 |
| RBC Capital | Nik Modi | $50 | $52.68 | +159.7% | Mar 9, 2023 |
| Morgan Stanley | Analyst unavailable | $57 | $56.22 | +196.0% | Dec 20, 2022 |
| Deutsche Bank | Analyst unavailable | $53 | $56.49 | +175.3% | Dec 8, 2022 |
| Piper Sandler | Analyst unavailable | $55 | $56.57 | +185.6% | Dec 8, 2022 |
| Credit Suisse | Analyst unavailable | $54 | $56.18 | +180.4% | Dec 8, 2022 |
| Morgan Stanley | Peter Galbo | $46 | $55.75 | +138.9% | Dec 7, 2022 |
| BNP Paribas | Analyst unavailable | $48 | $48.34 | +149.3% | Nov 15, 2022 |
| Morgan Stanley | Pamela Kaufman | $48 | $48.78 | +149.3% | Sep 21, 2022 |
| Credit Suisse | Robert Moskow | $52 | $48.87 | +170.1% | Sep 6, 2022 |
| Piper Sandler | Analyst unavailable | $46 | $50.38 | +138.9% | Sep 2, 2022 |
| Deutsche Bank | Analyst unavailable | $50 | $51.17 | +159.7% | Aug 22, 2022 |
| Deutsche Bank | Analyst unavailable | $49 | $47.62 | +154.5% | Jun 9, 2022 |
| Stifel Nicolaus | Analyst unavailable | $48 | $47.31 | +149.3% | Jun 9, 2022 |
| Deutsche Bank | Analyst unavailable | $47 | $46.62 | +144.1% | Jun 1, 2022 |
| R5 Capital | Scott Mushkin | $44.51 | $42.81 | +131.2% | Mar 14, 2022 |
| Piper Sandler | Michael Lavery | $43 | $39.71 | +123.3% | Nov 2, 2021 |
| Barclays | Andrew Lazar | $43 | $39.96 | +123.3% | Oct 21, 2021 |
| Bank of America Securities | Bryan Spillane | $42 | $41.74 | +118.1% | Sep 2, 2021 |
| Stifel Nicolaus | Christopher Growe | $44 | $41.52 | +128.5% | Sep 1, 2021 |
Track every rating change on CPB the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationCampbell Soup Company (CPB) is a leading international producer and marketer of a wide variety of food and beverage products. The enterprise conducts its business through two main operational divisions: Meals & Beverages and Snacks. The Meals & Beverages segment serves both retail and food service industries throughout the United States and Canada. Its extensive product range includes classic Campbell's condensed and ready-to-enjoy soups; Swanson brand broths and stocks; Pacific Foods' line of broths, soups, and non-dairy beverages; Prego pasta sauces; Pace brand Mexican sauces; Campbell's gravies, pasta dishes, beans, and dinner sauces; Swanson canned poultry; Plum organic baby food and snacks; V8 juices and drinks; and Campbell's tomato juice. The Snacks division primarily targets the retail sector, with a significant presence in Latin America.…
Historical context
All CPB earningsConsumer Defensive peers this season
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| KR The Kroger Co. | FY2026 Q2 · Calendar Q3 2026 | +2.8% | +2.7% | Kroger: Strong digital growth offsets softer sales outlook |
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| BF-B Brown-Forman Corporation | FY2027 Q1 · Calendar Q3 2026 | 0.0% | — | Brown-Forman maintains FY27 outlook as innovation offsets pressure |
Latest beats and misses
Who reports nextBeat on EPS
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- COSTFY2026 Q4 · September 24, 2026+3.2% EPS+2.9% move
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:22.444131+00:00
- Polygon adjusted daily market bars · 2026-10-01T15:26:08.740046+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-01T15:26:08.737292+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-01. For educational purposes only; not investment advice.