Campbell's (CPB) reported fiscal Q4 adjusted earnings Thursday of $0.39 per diluted share, down from $0.62 a year earlier.

That result matched the average estimate of analysts polled by FactSet.

Net sales for the quarter ended Aug. 2 were $2.14 billion, down from $2.32 billion a year earlier.

Analysts expected $2.14 billion.

For fiscal 2027, the company expects $1.65 to $1.80 in adjusted EPS and a 2% to 4% decline in net sales. Analysts expect $1.83 in adjusted EPS.

Campbell's also said it has lowered its quarterly dividend to $0.25 per share, down from $0.39 per share in the prior quarter. The new dividend is payable Nov. 2 to shareholders of record as of Oct. 1.

In addition, the company launched a new cost cutting program that aims to generate $500 million in savings by fiscal 2030.

Shares of Campbell were down more than 6% in recent Thursday premarket activity.