CPB

EX-99.1

2 exhibit991-q32026.htm

EX-99.1

Document

CAMPBELL'S REPORTS THIRD QUARTER FISCAL 2026 RESULTS

•Net Sales decreased 4% to $2.4 billion on a reported and organic basis.

•Earnings Before Interest and Taxes (EBIT) increased to $239 million; Adjusted EBIT decreased 24% to $274 million.

•Earnings Per Share (EPS) increased to $0.41; Adjusted EPS decreased 32% to $0.50.

•Fiscal year-to-date cash flow from operations was $839 million.

•Reaffirms full-year fiscal 2026 guidance.

CAMDEN, N.J., June 8, 2026—The Campbell's Company (NASDAQ:CPB) today reported results for its third quarter fiscal 2026 ended May 3, 2026. Unless otherwise stated, all comparisons are to the comparable period in fiscal 2025.

CEO Comments:

"Our third quarter results were generally in-line with our expectations but remained under pressure, reflecting top-line softness and inflation-driven margin headwinds,” said Mick Beekhuizen, Campbell’s President and Chief Executive Officer. “At the same time, we are encouraged by the progress we are making in several priority areas. In Meals & Beverages, our leading brands including Campbell’s, Rao’s, and Swanson continue to benefit from durable at-home cooking trends. In Snacks, we are seeing early signs of progress as we prioritize Goldfish’s core of households with kids, improve execution in Pepperidge Farm fresh bakery, and are taking additional actions to strengthen our salty snacks portfolio. Across the company, we are focused on simplifying the business, accelerating productivity and cost savings, and creating fuel to invest behind our strongest opportunities. We are moving with urgency and remain confident in the long-term strength of our portfolio and our ability to create shareholder value."

Three Months Ended

($ in millions, except per share)May 3, 2026April 27, 2025% Change

Net Sales

As Reported (GAAP)$2,366$2,475(4)%

Organic (4)%

Earnings Before Interest and Taxes (EBIT)

As Reported (GAAP)$239$16148%

Adjusted$274$362(24)%

Diluted Earnings Per Share

As Reported (GAAP)$0.41$0.2286%

Adjusted $0.50$0.73(32)%

Note: A detailed reconciliation of the reported (GAAP) financial information to the adjusted financial information is included at the end of this news release.

Items Impacting Comparability

The table below presents a summary of items impacting comparability in each period. A detailed reconciliation of the reported (GAAP) financial information to the adjusted information is included at the end of this news release.

Diluted Earnings Per Share

Three Months Ended

May 3, 2026April 27, 2025

As Reported (GAAP)$0.41$0.22

Costs associated with cost savings and optimization initiatives$0.17$0.08

Commodity mark-to-market losses (gains)$(0.02)$0.02

Costs associated with acquisition$0.01$—

Certain litigation expenses$—$0.01

Pension actuarial and curtailment gains$(0.08)$—

Impairment charges$—$0.37

Accelerated amortization$—$0.02

Adjusted*$0.50$0.73

*Numbers may not add due to rounding

Third Quarter Results

Net sales decreased 4% to $2.4 billion, including a modest headwind from the divestiture of noosa. Organic net sales decreased 4% primarily driven by lower volume/mix, with positive net price realization.

Gross profit decreased 11% to $650 million. Gross profit margin decreased 190 basis points to 27.5%. Adjusted gross profit decreased 12% to $656 million. Adjusted gross profit margin decreased 240 basis points to 27.7%, driven primarily by cost inflation and other supply chain costs inclusive of the impact

2

from tariffs, partially offset by supply chain productivity improvements and cost savings, as well as favorable net price realization.

Marketing and selling expenses decreased 1% to $214 million. Adjusted marketing and selling expenses increased 2% to $211 million primarily driven by marketing expenses.

Administrative expenses decreased 4% to $155 million. Adjusted administrative expenses decreased 1% to $149 million mainly driven by the benefit from cost savings initiatives and lower incentive compensation, partially offset by higher general administrative costs.

Other expenses were $8 million compared to $160 million in the prior year. Adjusted other income was $2 million compared to other expenses of $4 million.

EBIT increased 48% to $239 million versus the prior year which reflected a $150 million impairment charge. Adjusted EBIT decreased 24% to $274 million primarily due to lower adjusted gross profit.

Net interest expense of $80 million was consistent with prior year. The effective tax rate increased to 22.0% from the prior-year rate of 18.5%. The adjusted effective tax rate was 22.7%, consistent with the prior year.

EPS increased to $0.41 per share from $0.22 per share. Adjusted EPS decreased 32% to $0.50 per share reflecting lower adjusted EBIT.

Cash Flow and Shareholder Return

Cash flow from operations for the nine months ended May 3, 2026 was $839 million, compared to $872 million in the prior year. Capital expenditures year-to-date

cpb-202603110000016732false00000167322026-03-112026-03-11

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): March 11, 2026

THE CAMPBELL'S COMPANY

(Exact name of registrant as specified in its charter)

New Jersey1-382221-0419870 (State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)

One Campbell Place Camden, New Jersey 08103-1799 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (856) 342-4800 Not Applicable (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading Symbol(s)Name of each exchange on which registered Capital Stock, par value $.0375CPBThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 – Results of Operations and Financial Condition On March 11, 2026, The Campbell's Company (the "Company") issued a press release announcing financial results for the quarter ended February 1, 2026, a copy of which is attached as Exhibit 99.1.

The information in this Item 2.02 and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 9.01 – Financial Statements and Exhibits

(d) Exhibits 99.1Press release dated March 11, 2026 announcing financial results for the quarter ended February 1, 2026.

104The cover page from this Current Report on Form 8-K formatted in Inline XBRL.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

THE CAMPBELL'S COMPANY

(Registrant)

Date: March 11, 2026By:/s/ Todd E. Cunfer Todd E. Cunfer Executive Vice President and Chief Financial Officer

cpb-202512090000016732false00000167322025-12-092025-12-09

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): December 9, 2025

THE CAMPBELL'S COMPANY

(Exact name of registrant as specified in its charter)

New Jersey1-382221-0419870 (State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)

One Campbell Place Camden, New Jersey 08103-1799 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (856) 342-4800 Not Applicable (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading Symbol(s)Name of each exchange on which registered Capital Stock, par value $.0375CPBThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 – Results of Operations and Financial Condition On December 9, 2025, The Campbell's Company (the "Company") issued a press release announcing financial results for the quarter ended November 2, 2025, a copy of which is attached as Exhibit 99.1.

The information in this Item 2.02 and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 9.01 – Financial Statements and Exhibits

(d) Exhibits 99.1Press release dated December 9, 2025 announcing financial results for the quarter ended November 2, 2025.

104The cover page from this Current Report on Form 8-K formatted in Inline XBRL.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

THE CAMPBELL'S COMPANY

(Registrant)

Date: December 9, 2025By:/s/ Todd E. Cunfer Todd E. Cunfer Executive Vice President and Chief Financial Officer