Campbell Soup (NASDAQ: CPB) shares dropped more than 5% in premarket trading Wednesday after the company reported second-quarter fiscal 2026 results that fell short of expectations and lowered its full-year guidance.
The company posted earnings per share of $0.51 for the quarter, missing analyst estimates of $0.57. Revenue came in at $2.6 billion, slightly below the consensus forecast of $2.61 billion.
Organic sales declined 3% year over year, while adjusted EBIT dropped 24% compared with the prior year to $282 million.
Campbell said weather-related disruptions weighed on results. Storms in January delayed shipments and increased supply chain costs, reducing quarterly net sales by about 1%, lowering adjusted EBIT by approximately $14 million and cutting adjusted EPS by roughly $0.04 per share.
The company also lowered its full-year outlook to reflect weaker-than-expected first-half results and the broader operating environment.
Campbell now expects full-year adjusted earnings per share between $2.15 and $2.25, down from its previous guidance of $2.40 to $2.55. The updated forecast also falls below the current analyst consensus estimate of $2.41.
Organic sales are now projected to decline between 2% and 1% for the year, compared with prior guidance that called for a range between a 1% decline and a 1% increase.
Adjusted EBIT is now expected to fall between 20% and 17%, versus earlier guidance for a decline of 13% to 9%.
