Campbell's Q3 sales fall 4%, tariffs cut earnings by $.07/share, gross margin compressed

Filed June 8, 2026 · Period ending May 3, 2026 · ~1 min read

Key Changes

• high

  Tariffs reduced Q3 earnings by approximately $.07 per share ($.17 year-to-date), contributing to 190 basis point gross margin contraction to 27.5%. Management expects inflationary pressures to persist through remainder of 2026.

  MD&A: Tariff Impact verify on EDGAR →
• high

  Q3 sales declined 4% to $2.366 billion driven by volume/mix weakness across both segments and noosa divestiture. U.S. soup down 8%, with declines across crackers, pretzels, chips and fresh bakery.

  MD&A: Sales Performance verify on EDGAR →
• high

  Acquired 49% of La Regina for $286 million total ($146 million paid May 2026), the contract manufacturer for all Rao's tomato-based pasta sauces. Remaining 51% subject to call/put options, securing supply for key brand.

  MD&A: La Regina Acquisition verify on EDGAR →