The Campbell's Company, formerly Campbell Soup Company, is a packaged-food maker founded in 1869 and headquartered in Camden, New Jersey. It reported $9.744 billion of net sales in fiscal 2026, from two divisions: Meals & Beverages and Snacks.
Quick Answer: What is The Campbell's Company?
Campbell's sells soup, broth, pasta sauce, crackers, cookies, pretzels and chips, almost entirely in the U.S. and Canada. Its four billion-dollar brands are Campbell's, Goldfish, Pepperidge Farm and Rao's, and it counts 16 leadership brands in total, including Swanson, Prego, Pace, V8, Snyder's of Hanover, Lance, Cape Cod and Kettle Brand. Mick Beekhuizen has been President and CEO since February 1, 2025. The shares trade on Nasdaq under CPB, and the market value was about $5.9 billion at the end of September 2026.
How Does Campbell's Make Money?
Campbell's manufactures branded food and sells it to grocery chains, mass merchants, club stores, convenience and dollar stores, online retailers and foodservice operators. Meals & Beverages produced $5.93 billion of fiscal 2026 net sales and $943 million of segment operating earnings. It covers condensed and ready-to-serve soup, Swanson and Pacific Foods broth, Prego and Rao's sauces, Pace, SpaghettiOs and V8. Snacks produced $3.82 billion of sales and $386 million of segment operating earnings from Pepperidge Farm, Goldfish, Snyder's of Hanover, Lance, Cape Cod, Kettle Brand, Late July and Snack Factory, much of it delivered to stores by independent direct-store-delivery distributors. The soup and sauce side is the more profitable of the two, with a margin near 16% against about 10% for Snacks.
What Happened in Fiscal 2026?
Net sales fell 5% to $9.744 billion, or 2% on an organic basis, partly because fiscal 2025 had an extra week. Cost inflation and tariffs cut gross margin, adjusted EBIT fell 21% to $1.18 billion and net earnings fell 33% to $403 million. Snacks organic sales fell 4% for the year, led by salty snacks, and Campbell's took a $117 million impairment on the Cape Cod and Kettle Brand trademarks. Meals & Beverages held up better, with organic sales up 3% in the fourth quarter. Rao's passed $1 billion in trailing net sales, and in May 2026 Campbell's paid $286 million for 49% of La Regina, the Italian company that makes all Rao's tomato-based sauces.
What Is Campbell's Competitive Advantage?
The advantage is brand familiarity in habitual purchases and the scale to keep those brands on shelves. Condensed soup has been sold since 1897, Swanson since the 1950s and Goldfish since 1962, and four brands each exceed $1 billion in sales. In soup Campbell's competes with General Mills' Progresso, Kraft Heinz, Conagra Brands and store brands; in snacks it faces larger rivals in PepsiCo's Frito-Lay, Mondelez and Mars, which owns Kellanova.
What Are the Biggest Risks Facing Campbell's?
The main risk is a margin squeeze that outlasts the cost program. Management expects another year of elevated inflation in fiscal 2027, snack volumes are falling as shoppers look for value, and debt was about $7.1 billion at the end of fiscal 2026 ($6.16 billion long-term plus $977 million short-term borrowings). That debt is why the board cut the quarterly dividend 36%, from $0.39 to $0.25, in September 2026.
What Is Campbell's Strategy for Fiscal 2027?
Campbell's expects net sales to fall 2% to 4% in fiscal 2027 and adjusted EPS of $1.65 to $1.80, down from $2.17, with pressure concentrated early in the year. Its response is a new program targeting $500 million of cost savings by fiscal 2030, including plant closures in Hyannis, Massachusetts and Jeffersonville, Indiana and a roughly 13% cut to salaried staff, plus price increases, new snack products and media campaigns. Cash saved from the dividend reset is meant to reduce debt, while Rao's and soup carry the Meals & Beverages division.
