Campbell’s beats sales estimates on resilient demand for packaged food products

A variety of Campbell's soups in a grocery cart at a store. (Ross D. Franklin / AP)

Campbell’s Co. beat Wall Street estimates for first-quarter sales on Tuesday, helped by resilient demand for its canned soups and ready-to-eat meals as consumers opt to eat more at home amid economic uncertainty.

Persistent inflation and tariff-related volatility have led to shoppers stocking up on pantry staples to cook meals rather than spending on expensive restaurant food.

“Consumers remain intentional in their shopping behaviors with at-home-cooking trends continuing to benefit our brands,” CEO Mick Beekhuizen said in a statement.

The company said in September it will remove synthetic dyes from its food and beverage portfolio starting in fiscal 2026, a trend that is accelerating among packaged food makers, as more consumers opt for healthier options and the Trump administration pushes the “Make America Healthy Again” campaign.

It also announced it will be acquiring 49 per cent of Rao’s sauce maker La Regina SPA for $286 million. The transaction is expected to close in the second half of fiscal 2026.

Campbell’s reported net sales of $2.68 billion in the first quarter ended November 2, compared with the average analyst estimate of $2.66 billion, according to data compiled by LSEG.

Shares of the Goldfish cracker maker, which reaffirmed its annual sales and profit forecasts, were flat in premarket trading.

(Reporting by Koyena Das and Neil J Kanatt in Bengaluru; Editing by Shinjini Ganguli)