CPB Q3 Profit Drops 32% on Volume Decline, Margin Pressure

Campbell Soup reaffirms full-year guidance despite a 4% organic sales decline and 240 basis point gross margin contraction in Q3. Campbell Soup reported a 32% year-over-year drop in adjusted earnings per share to $0.50 for Q3 fiscal 2026, as organic net sales fell 4%. Adju

Campbell Soup reaffirms full-year guidance despite a 4% organic sales decline and 240 basis point gross margin contraction in Q3.

Campbell Soup reported a 32% year-over-year drop in adjusted earnings per share to $0.50 for Q3 fiscal 2026, as organic net sales fell 4%. Adjusted EBIT declined 24%, reflecting weaker volumes and persistent cost pressures.

The company cited a 5% volume headwind, driven by prior-year soup strength and snacks division challenges, while net price realization added just 1%. Adjusted gross margin narrowed 240 basis points to 27.7%, though improved sequentially from Q2.

Management reaffirmed full-year guidance, emphasizing continued investment in priority brands despite inflation and supply chain headwinds.

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