Campbell Soup Company (NASDAQ:CPB) shares dropped more than 5% in premarket trading Wednesday after the company reported fiscal second-quarter 2026 results that came in below expectations and cut its full-year guidance.
The food producer reported earnings per share of $0.51 for the quarter, missing analyst forecasts of $0.57. Revenue totaled $2.6 billion, slightly under the consensus estimate of $2.61 billion.
Underlying sales declined during the period, with organic revenue down 3% year over year. Adjusted EBIT also fell sharply, dropping 24% compared with the same quarter last year to $282 million.
Campbell said severe weather played a role in the weaker performance. The company explained that storm-related shipping disruptions in January and additional supply chain costs reduced quarterly net sales by about 1%, while lowering adjusted EBIT by roughly $14 million and adjusted EPS by around $0.04 per share.
Looking ahead, Campbell revised its full-year outlook to reflect a more cautious view for the remainder of the fiscal year following softer results in the first half and a challenging operating environment.
The company now expects adjusted earnings per share for the full year to range between $2.15 and $2.25, down from its previous guidance of $2.40 to $2.55. The new forecast is also below the current analyst consensus estimate of $2.41.
Campbell also now expects organic sales to decline between 2% and 1% for the year, compared with earlier guidance that projected a range between a 1% decline and 1% growth.
In addition, the company now anticipates adjusted EBIT will decrease between 20% and 17% for the full year, compared with its earlier forecast of a 13% to 9% decline.