Analyst Consensus ?
ConsensusHold29 ratings
Bullish13.5%
Neutral1758.6%
Bearish1137.9%
Campbell Soup Company · CPB · FY2026 Q4 · Calendar Q3 2026
Campbell’s leans on savings and innovation amid pressured demand
Campbell’s recovery case rests on cost savings, revenue-growth management and product innovation offsetting pressured demand and costs. The evidence is mixed: management remains confident and maintained guidance, but near-term margins, Snacks execution and acquisition-related leverage leave the trajectory uncertain.
Reported Before market openNASDAQConsumer Defensive
$6.17B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.39
Consensus $0.39
EPS surprise
+1.1%
Reported versus consensus
Reported revenue
$2.14B
Consensus $2.14B
Revenue surprise
-0.3%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-7.0%
Event window
SPY move
+1.0%
Same window
Abnormal move
-8.0%
Stock minus SPY
Volume
6.8×
Versus trailing sessions
Subsequent drift
-6.5%
Up to 20 sessions
CPBSPY benchmark
Ask FN2 about CPB FY2026 Q4
Transcript, numbers and history already loaded
Why did CPB fall 7.0% after beating EPS estimates in FY2026 Q4?What changed in CPB's guidance and outlook in FY2026 Q4?Give me the bull and bear case for CPB after FY2026 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current analysis shifts emphasis from broad cost control to a larger recovery program centered on savings, pricing, innovation and network optimization. It also adds greater financing complexity from the La Regina acquisition, while the prior quarter had focused more on core-brand support, limited capex and leverage reduction.
Guidance delta
Maintained; management’s outlook depends on margin improvement in the second half and recovery initiatives.
Key takeaways
- Organic sales declined and near-term margins face pressure from inflation, logistics costs and negative price realization.
- Management is emphasizing cost savings, revenue-growth management and product innovation to support recovery.
- The Snacks turnaround remains dependent on brand initiatives and improved volume performance.
- The La Regina acquisition adds financing complexity and has led to a dividend reset.
Management priorities
- Execute the cost-savings program and optimize the plant and supply-chain network.
- Use revenue-growth management and selective pricing to improve trade-spend efficiency.
- Invest in Goldfish, Pepperidge Farm, soups and sauces innovation.
- Repair Snacks performance while managing leverage and refinancing needs.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$20.69Current
$18Low
$33.8Average
$59High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 21, 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 $20.69. 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 | +1.5% | Sep 14, 2026 |
| RBC Capital | Analyst unavailable | $19 | $21.27 | -8.2% | Sep 4, 2026 |
| Barclays | Analyst unavailable | $18 | $22.12 | -13.0% | Sep 4, 2026 |
| Jefferies | Analyst unavailable | $20 | $22.12 | -3.3% | Sep 3, 2026 |
| Evercore ISI | Analyst unavailable | $22 | $23.39 | +6.3% | Aug 31, 2026 |
| Stephens | Analyst unavailable | $20 | $23.28 | -3.3% | Aug 28, 2026 |
| UBS | Analyst unavailable | $18 | $23.81 | -13.0% | Aug 20, 2026 |
| Coker Palmer | Thomas Palmer | $22 | $22.68 | +6.3% | Aug 18, 2026 |
| RBC Capital | Analyst unavailable | $21 | $21.49 | +1.5% | Jun 9, 2026 |
| UBS | Analyst unavailable | $17 | $21.49 | -17.8% | Jun 9, 2026 |
| Bernstein | Alexia Howard | $18 | $21.49 | -13.0% | Jun 9, 2026 |
| Barclays | Andrew Lazar | $19 | $21.68 | -8.2% | Jun 8, 2026 |
| Morgan Stanley | Analyst unavailable | $21 | $21.55 | +1.5% | Jun 5, 2026 |
| Bernstein | Analyst unavailable | $19 | $20.99 | -8.2% | Jun 3, 2026 |
| UBS | Analyst unavailable | $19 | $21.26 | -8.2% | Jun 2, 2026 |
| Stephens | Analyst unavailable | $21 | $21.11 | +1.5% | Jun 1, 2026 |
| D.A. Davidson | Brian Holland | $20 | $20.47 | -3.3% | May 22, 2026 |
| Morgan Stanley | Analyst unavailable | $23 | $20.82 | +11.2% | Apr 23, 2026 |
| Stifel Nicolaus | Matthew Smith | $20 | $21.26 | -3.3% | Apr 21, 2026 |
| Barclays | Andrew Lazar | $21 | $19.78 | +1.5% | Apr 14, 2026 |
| BNP Paribas | Analyst unavailable | $19 | $20.79 | -8.2% | Apr 9, 2026 |
| Wells Fargo | Analyst unavailable | $18 | $20.69 | -13.0% | Apr 8, 2026 |
| UBS | Analyst unavailable | $24 | $22.15 | +16.0% | Mar 12, 2026 |
| UBS | Analyst unavailable | $23 | $22.1 | +11.2% | Mar 12, 2026 |
| Barclays | Andrew Lazar | $23 | $22.94 | +11.2% | Mar 12, 2026 |
| Piper Sandler | Analyst unavailable | $28 | $25.29 | +35.3% | Mar 9, 2026 |
| Jefferies | Scott Marks | $26 | $26.95 | +25.7% | Mar 2, 2026 |
| Barclays | Analyst unavailable | $27 | $26.1 | +30.5% | Jan 16, 2026 |
| Morgan Stanley | Megan Clapp | $28 | $26.9 | +35.3% | Jan 16, 2026 |
| RBC Capital | Nik Modi | $30 | $28.17 | +45.0% | Dec 10, 2025 |
| UBS | Analyst unavailable | $26 | $28.47 | +25.7% | Dec 10, 2025 |
| Stifel Nicolaus | Matthew Smith | $30 | $28.47 | +45.0% | Dec 10, 2025 |
| Bernstein | Analyst unavailable | $33 | $28.47 | +59.5% | Dec 10, 2025 |
| Wells Fargo | Chris Carey | $30 | $28.47 | +45.0% | Dec 10, 2025 |
| Stifel Nicolaus | Matthew Smith | $34 | $29.04 | +64.3% | Dec 9, 2025 |
| Stephens | Analyst unavailable | $38 | $29.6 | +83.7% | Dec 8, 2025 |
| Morgan Stanley | Megan Alexander Clapp | $30 | $29.38 | +45.0% | Dec 5, 2025 |
| UBS | Peter Grom | $28 | $29.84 | +35.3% | Dec 4, 2025 |
| D.A. Davidson | Brian Holland | $30 | $31.1 | +45.0% | Nov 17, 2025 |
| UBS | Analyst unavailable | $30 | $31.93 | +45.0% | Aug 29, 2025 |
| Coker Palmer | Thomas Palmer | $33 | $35.48 | +59.5% | May 19, 2025 |
| Bernstein | Alexia Howard | $47 | $39.82 | +127.2% | Apr 3, 2025 |
| Wells Fargo | Analyst unavailable | $40 | $39.79 | +93.3% | Mar 6, 2025 |
| Barclays | Analyst unavailable | $40 | $39.18 | +93.3% | Mar 5, 2025 |
| Piper Sandler | Analyst unavailable | $45 | $39.18 | +117.5% | Mar 5, 2025 |
| Piper Sandler | Michael Lavery | $56 | $42.59 | +170.7% | Dec 5, 2024 |
| Evercore ISI | David Palmer | $48 | $42.82 | +132.0% | Dec 5, 2024 |
| Coker Palmer | Thomas Palmer | $44 | $49.13 | +112.7% | Nov 18, 2024 |
| Bernstein | Alexia Howard | $58 | $47.35 | +180.3% | Oct 7, 2024 |
| Argus Research | Taylor Conrad | $59 | $51.42 | +185.2% | Sep 20, 2024 |
| RBC Capital | Nik Modi | $51 | $49.78 | +146.5% | Sep 13, 2024 |
| Stifel Nicolaus | Matthew Smith | $50 | $50.11 | +141.7% | Sep 11, 2024 |
| Wells Fargo | John Baumgartner | $51 | $50.09 | +146.5% | Sep 11, 2024 |
| Wells Fargo | Chris Carey | $49 | $49.25 | +136.8% | Aug 30, 2024 |
| Goldman Sachs | Ken Goldman | $52 | $45.63 | +151.3% | Jun 26, 2024 |
| Wells Fargo | John Baumgartner | $47 | $43.53 | +127.2% | Jun 7, 2024 |
| RBC Capital | Nik Modi | $47 | $43.42 | +127.2% | May 30, 2024 |
| Coker Palmer | Thomas Palmer | $42 | $46.29 | +103.0% | May 22, 2024 |
| Deutsche Bank | Steve Powers | $48 | $46.46 | +132.0% | May 20, 2024 |
| Bernstein | Alexia Howard | $46 | $46.01 | +122.3% | May 15, 2024 |
| Evercore ISI | David Palmer | $49 | $42.81 | +136.8% | Mar 13, 2024 |
| Stifel Nicolaus | Matthew Smith | $45 | $43.01 | +117.5% | Mar 12, 2024 |
| Piper Sandler | Michael Lavery | $47 | $43.39 | +127.2% | Dec 7, 2023 |
| J.P. Morgan | Ken Goldman | $47 | $41.96 | +127.2% | Aug 31, 2023 |
| RBC Capital | Nik Modi | $50 | $52.68 | +141.7% | Mar 9, 2023 |
| Morgan Stanley | Analyst unavailable | $57 | $56.22 | +175.5% | Dec 20, 2022 |
| Deutsche Bank | Analyst unavailable | $53 | $56.49 | +156.2% | Dec 8, 2022 |
| Piper Sandler | Analyst unavailable | $55 | $56.57 | +165.8% | Dec 8, 2022 |
| Credit Suisse | Analyst unavailable | $54 | $56.18 | +161.0% | Dec 8, 2022 |
| Morgan Stanley | Peter Galbo | $46 | $55.75 | +122.3% | Dec 7, 2022 |
| BNP Paribas | Analyst unavailable | $48 | $48.34 | +132.0% | Nov 15, 2022 |
| Morgan Stanley | Pamela Kaufman | $48 | $48.78 | +132.0% | Sep 21, 2022 |
| Credit Suisse | Robert Moskow | $52 | $48.87 | +151.3% | Sep 6, 2022 |
| Piper Sandler | Analyst unavailable | $46 | $50.38 | +122.3% | Sep 2, 2022 |
| Deutsche Bank | Analyst unavailable | $50 | $51.17 | +141.7% | Aug 22, 2022 |
| Deutsche Bank | Analyst unavailable | $49 | $47.62 | +136.8% | Jun 9, 2022 |
| Stifel Nicolaus | Analyst unavailable | $48 | $47.31 | +132.0% | Jun 9, 2022 |
| Deutsche Bank | Analyst unavailable | $47 | $46.62 | +127.2% | Jun 1, 2022 |
| R5 Capital | Scott Mushkin | $44.51 | $42.81 | +115.1% | Mar 14, 2022 |
| Piper Sandler | Michael Lavery | $43 | $39.71 | +107.8% | Nov 2, 2021 |
| Barclays | Andrew Lazar | $43 | $39.96 | +107.8% | Oct 21, 2021 |
| Bank of America Securities | Bryan Spillane | $42 | $41.74 | +103.0% | Sep 2, 2021 |
| Stifel Nicolaus | Christopher Growe | $44 | $41.52 | +112.7% | 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
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| KR The Kroger Co. | FY2026 Q2 · Calendar Q3 2026 | +2.8% | +2.7% | Kroger: Strong digital growth offsets softer sales outlook |
| BF-A Brown-Forman Corporation | FY2027 Q1 · Calendar Q3 2026 | +3.0% | — | Brown-Forman holds FY27 outlook as RTD innovation offsets barrel pressure |
| BF-B Brown-Forman Corporation | FY2027 Q1 · Calendar Q3 2026 | 0.0% | — | Brown-Forman maintains FY27 outlook as innovation offsets pressure |
| LW Lamb Weston Holdings, Inc. | FY2026 Q4 · Calendar Q3 2026 | +39.0% | +0.8% | Lamb Weston Closes FY26 With Strong North America Volume, Beats on EPS and Revenue |
Latest beats and misses
Who reports nextBeat on EPS
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
- CASYFY2027 Q1 · September 8, 2026+8.7% EPS-14.2% move
Missed on EPS
Get the CPB recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-09-03T15:22:17.978646+00:00
- FN2 earnings calendar · 2026-09-20T01:23:12.707946+00:00
- Polygon adjusted daily market bars · 2026-09-21T00:41:48.786795+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-21T00:41:48.784697+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 . For educational purposes only; not investment advice.