The Campbell's Company reported its third-quarter fiscal 2025 results on June 2, 2025, with net sales increasing 4% to $2.475 billion, driven by the Sovos Brands acquisition. Organic net sales increased 1%, primarily due to 2% favorable volume/mix, partially offset by planned unfavorable net price realization.
Adjusted diluted earnings per share (EPS) decreased 3% to $0.73, while adjusted EBIT increased 2% to $362 million. The Meals & Beverages segment saw net sales rise 15% and organic net sales grow 6%, benefiting from strong in-market performance in soup and Italian sauces. However, the Snacks segment experienced an 8% decrease in net sales and a 5% decline in organic net sales, impacted by lower volume/mix and competitive pressures.
The company incurred a non-cash impairment charge of $150 million related to the Snyder's of Hanover trademark in the quarter. Campbell's reaffirmed its full-year fiscal 2025 guidance, but adjusted EBIT and adjusted EPS are now expected to be at the low end of the previously provided range due to the slower-than-anticipated recovery in the Snacks business. The company also noted a potential net incremental headwind of tariff-related costs of up to $0.03 to $0.05 per share, which is not included in the guidance due to the uncertain trade environment.
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