The Campbell’s Company (NASDAQ:CPB) shares fell Wednesday after the packaged-food maker cut its full-year profit outlook, citing tariff pressures and rising supply chain costs that weighed on quarterly performance.
The company said it is relying on cost-saving measures to offset those headwinds. However, weaker snack demand and shipment disruptions continued to pressure results.
Earnings Miss Expectations
Campbell’s reported second-quarter adjusted earnings of 51 cents per share, missing the analyst consensus estimate of 57 cents. Quarterly sales came in at $2.564 billion, below the Street’s forecast of $2.610 billion.
Net sales declined 5% to about $2.6 billion, while organic net sales fell 3%.
Segment Performance Shows Broad Weakness
In the Meals & Beverages segment, net sales declined 4%. Excluding the impact of the noosa divestiture, organic net sales slipped 2%, mainly due to weaker demand for U.S. soup, Prego pasta sauces, foodservice products, and V8 beverages.
The Snacks segment also struggled. Net sales fell 6% on both …