By Kelly Cloonan

Campbell's is set to post its fiscal first-quarter results Tuesday before the market opens. Here's what you need to know.

PROFIT: Campbell's is expected to post a quarterly profit of $220.6 million, or 72 cents a share, according to analysts surveyed by FactSet. This compares with $267 million, or 72 cents cents a share, for the same period a year earlier.

ADJUSTED EARNINGS: The food and beverage company is projected to report adjusted earnings per share of 74 cents, compared with 89 cents in the year-ago period.

REVENUE: Campbell's is projected to report $2.65 billion in revenue, compared with $2.77 billion in the same period a year ago, according to analysts polled by FactSet.

The stock has fallen 11% in the past three months and was recently trading at $30.15.

WHAT TO WATCH

--All eyes will be on Campbell's tariff commentary. In September, the company said it expects earnings to fall sharply this fiscal year as higher tariffs on steel raise the cost of soup cans. Analysts will be watching to see how the company's mitigation plans have fared so far, and whether its tariff expectations have shifted. Unlike several other companies, Campbell's is unlikely to benefit from recent tariff exemptions, given cans and pasta sauce from Italy were not exempted, JPMorgan analysts said.

--Analysts will also be watching to see how the company's snack category has fared in recent months. The company has seen snack sales decline in recent quarters as consumers grow more intentional about their discretionary snack spending. D.A. Davidson analysts said tracked sales data shows demand for the company's snacks remains soft, with consumption lagging their shipment forecasts in the recent quarter.

-The market will also be watching for any signs of a strategy shift under Campbell's new Chief Financial Officer Todd Cunfer, who joined from FreshPet in October. Cunfer has a strong track record of profit improvement and forecasting prowess, and his appointment raises speculation of an earnings reset at Campbell's given investor concerns about soup elasticities, a projected inflection in its snacking category in the second half of the fiscal year and as its Rao's brand reaches maturity, D.A. Davidson analysts said. "Though we don't anticipate any material updates quite so early in CFO Cunfer's tenure, we think a more pragmatic intermediate to long term view at some point could be well received," they say.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

December 08, 2025 13:13 ET (18:13 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.