The Campbell’s Company (CPB) Barclays 18th Annual Global Consumer Staples Conference 2025 summary

Leadership perspectives and strategic focus

• CEO transition brought renewed focus on leveraging a strong brand portfolio for sustainable, profitable growth, emphasizing controllable factors in a dynamic environment.

• Consumer trends such as premiumization, flavor exploration, health, and cooking comfort are shaping portfolio evolution and innovation priorities.

• Productivity initiatives and increased cost-saving targets are central to mitigating headwinds and funding brand investments.

Financial outlook and guidance

• Fiscal 2026 organic growth is expected to range from -1% to +1%, with meals and beverages maintaining momentum and snacks stabilizing in the second half.

• EPS guidance midpoint is about $0.40 lower year-over-year, mainly due to tariff headwinds and increased brand investment.

• About 60% of tariff impacts are expected to be mitigated, with stepped-up marketing and incentive compensation resets also affecting results.

Segment performance and growth drivers

• Meals and beverages benefit from at-home cooking trends, value, and convenience, with strong brands like Prego and Rao's driving growth.

• Soup remains a core focus, with ongoing investment and portfolio evolution to meet consumer needs for both ingredients and ready-to-serve options.

• Rao's continues to deliver high single-digit growth, with further runway in innovation and distribution.