Campbell's Q3 EPS $0.22 GAAP, $0.73 adj; Snacks segment declines 8%; reaffirms FY guidance at low end

CAMPBELL'S Co

2025-Q3 EPS reported $1.52 vs consensus $0.57 ▲ beat (+168.3%)

Net sales $2.48B (+4% reported, +1% organic); Meals & Beverages organic +6%, Snacks organic -5%
GAAP EBIT $161M (-35%); adjusted EBIT $362M (+2%); $150M impairment on Snyder's of Hanover trademark
Adjusted EPS $0.73 (-3%); GAAP EPS $0.22 (-50%); FY adjusted EPS now expected at low end of $2.95-$3.05 range
Tariffs could add $0.03-$0.05 incremental headwind to FY adjusted EPS if current actions remain
YTD cash from ops $872M; returned $403M via dividends and buybacks; cost savings program delivered ~$110M to date

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