Campbell's Q3 results showed EPS of $0.50, beating estimates by 2 cents, while revenue of $2.37 billion missed the $2.40 billion target amid decelerating organic sales and broad volume weakness. Goldfish provided the sole bright spot with stabilized households, but private-label share gains pressured snacks, and gross margins contracted 240 basis points organically. Management plans $100 million in SG&A cuts plus an early retirement program to offset 5-6% inflation, with pricing held as a last resort, while prioritizing deleveraging to protect its investment-grade rating over acquisitions or dividend growth.

Company: Campbell Soup Company (CPB) — Q3 FY2026

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