Core Insights - Campbell's Company (CPB) reported first-quarter fiscal 2026 results, with net sales missing estimates while adjusted earnings per share (EPS) exceeded expectations, although both metrics declined year over year [1][10]. Financial Performance - Adjusted EPS was 77 cents, down 13% year over year, primarily due to lower adjusted earnings before interest and taxes (EBIT), but it surpassed the Zacks Consensus Estimate of 73 cents [2]. - Net sales totaled $2,677 million, a decrease of 3% year over year, missing the Zacks Consensus Estimate of $2,659 million. Organic net sales fell 1% to $2.7 billion, driven by lower volume/mix, partially offset by favorable pricing [3]. - Adjusted gross profit declined to $801 million from $871 million, missing the estimate of $823.1 million. The adjusted gross profit margin decreased by 150 basis points to 29.9%, attributed to cost inflation and supply-chain expenses [4]. Expense Management - Adjusted marketing and selling expenses decreased by 2% to $237 million, mainly due to lower selling expenses and cost-saving initiatives, despite increased marketing spend [5]. - Adjusted administrative expenses fell by 9% to $150 million, reflecting benefits from cost savings and lower incentive compensation [5]. Segment Performance - Meals & Beverages segment net sales decreased by 4% to $1,665 million, with organic net sales declining by 2% when excluding the noosa divestiture, primarily due to lower sales in U.S. soup and other products [7]. - Snacks segment net sales decreased by 2% to $1,012 million, with organic net sales down 1% when excluding the Pop Secret divestiture, driven by declines in various snack products [8]. Other Financial Metrics - As of the end of the reported quarter, Campbell's had cash and cash equivalents of $168 million and total debt of $6,972 million. Cash flow from operations was $224 million, with capital expenditures of $127 million [9]. - The company paid $120 million in cash dividends and repurchased nearly $24 million in shares during the fiscal first quarter [11]. Strategic Developments - Campbell's will acquire a 49% stake in La Regina for $286 million, enhancing their partnership and supporting future innovation, expected to close in the second half of fiscal 2026 [12]. - The company reaffirmed its full-year fiscal 2026 guidance, expecting organic net sales to range from a 1% decline to a 1% rise year over year, with adjusted EBIT estimated to decrease by 9-13% and adjusted EPS expected to decline by 12-18% [13].

Core Viewpoint - Campbell's quarterly earnings of $0.77 per share exceeded the Zacks Consensus Estimate of $0.73, although it represents a decline from $0.89 per share a year ago [1][2] Financial Performance - The company reported revenues of $2.68 billion for the quarter ended October 2025, surpassing the Zacks Consensus Estimate by 0.67%, but down from $2.77 billion year-over-year [3] - Over the last four quarters, Campbell has surpassed consensus EPS estimates four times and topped consensus revenue estimates twice [2][3] Stock Performance - Campbell shares have declined approximately 28.3% year-to-date, contrasting with the S&P 500's gain of 16.4% [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [7] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.62 on revenues of $2.66 billion, and for the current fiscal year, it is $2.45 on revenues of $9.94 billion [8] - The trend of estimate revisions for Campbell was mixed ahead of the earnings release, which may change following the recent results [7] Industry Context - The Food - Miscellaneous industry, to which Campbell belongs, is currently ranked in the bottom 21% of over 250 Zacks industries, indicating potential challenges ahead [9] - Conagra Brands, another company in the same industry, is expected to report a significant year-over-year earnings decline of 37.1% in its upcoming results [10][11]

Core Viewpoint - Hormel Foods reported quarterly earnings of $0.32 per share, exceeding the Zacks Consensus Estimate of $0.30 per share, but down from $0.42 per share a year ago [1][2] Financial Performance - The earnings surprise for the quarter was +6.67%, while the previous quarter saw a surprise of -14.63% with actual earnings of $0.35 compared to an expected $0.41 [2] - Hormel's revenues for the quarter were $3.19 billion, slightly missing the Zacks Consensus Estimate by 0.55%, and up from $3.14 billion year-over-year [3] - Over the last four quarters, Hormel has surpassed consensus EPS estimates only once and has topped revenue estimates twice [2][3] Stock Performance - Hormel shares have declined approximately 25.8% since the beginning of the year, contrasting with the S&P 500's gain of 16.5% [4] - The stock currently holds a Zacks Rank 4 (Sell), indicating expectations of underperformance in the near future [7] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.31 on revenues of $3.08 billion, and for the current fiscal year, it is $1.40 on revenues of $12.43 billion [8] - The outlook for the Food - Meat Products industry, where Hormel operates, is currently in the bottom 34% of Zacks industries, which may negatively impact stock performance [9]

Core Viewpoint - The market anticipates a year-over-year decline in Campbell's earnings due to lower revenues, with a focus on how actual results compare to estimates impacting stock price [1][2]. Earnings Expectations - Campbell is expected to report quarterly earnings of $0.74 per share, reflecting a year-over-year decrease of 16.9%, with revenues projected at $2.66 billion, down 3.9% from the previous year [3]. - The consensus EPS estimate has been revised 0.2% lower in the last 30 days, indicating a bearish sentiment among analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model shows a negative Earnings ESP of -0.08%, suggesting analysts have become more pessimistic about Campbell's earnings prospects [12]. - The stock holds a Zacks Rank of 3, complicating predictions of an earnings beat [12]. Historical Performance - In the last reported quarter, Campbell exceeded expectations by delivering earnings of $0.62 per share against an expected $0.57, resulting in a surprise of +8.77% [13]. - Over the past four quarters, Campbell has consistently beaten consensus EPS estimates [14]. Market Reaction Factors - An earnings beat or miss alone may not dictate stock movement, as other factors can influence investor sentiment [15]. - Betting on stocks expected to beat earnings can improve success odds, highlighting the importance of monitoring Earnings ESP and Zacks Rank [16].

分组1 - Cadiz reported a quarterly loss of $0.1 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.09, representing an earnings surprise of -11.11% [1] - The company posted revenues of $4.15 million for the quarter ended September 2025, exceeding the Zacks Consensus Estimate by 6.39%, and showing an increase from $3.22 million year-over-year [2] - Over the last four quarters, Cadiz has not surpassed consensus EPS estimates and has topped revenue estimates only once [2] 分组2 - The stock has underperformed, losing about 11.5% since the beginning of the year, while the S&P 500 gained 16.5% [3] - The current consensus EPS estimate for the coming quarter is $0.54 on revenues of $3.9 million, and for the current fiscal year, it is $0.24 on revenues of $14.9 million [7] - The Agriculture - Operations industry, to which Cadiz belongs, is currently ranked in the bottom 21% of over 250 Zacks industries, indicating potential challenges for stock performance [8]

Core Insights - Nomad Foods reported quarterly earnings of $0.57 per share, exceeding the Zacks Consensus Estimate of $0.55 per share, but down from $0.60 per share a year ago, resulting in an earnings surprise of +3.64% [1] - The company generated revenues of $879.5 million for the quarter ended September 2025, slightly surpassing the Zacks Consensus Estimate by 0.01% and up from $845.81 million year-over-year [2] - Nomad Foods has outperformed consensus EPS estimates three times over the last four quarters and has topped revenue estimates twice in the same period [2] Earnings Outlook - The future performance of Nomad Foods' stock will largely depend on management's commentary during the earnings call and the sustainability of the stock's immediate price movement based on the recently released numbers [3][4] - The current consensus EPS estimate for the upcoming quarter is $0.49 on revenues of $903.84 million, while the estimate for the current fiscal year is $1.91 on revenues of $3.54 billion [7] Industry Context - The Zacks Industry Rank indicates that the Food - Miscellaneous sector is currently in the bottom 31% of over 250 Zacks industries, suggesting potential challenges for stocks within this category [8] - Another company in the same industry, Campbell's, is expected to report quarterly earnings of $0.74 per share, reflecting a year-over-year decline of -16.9%, with revenues projected at $2.67 billion, down 3.8% from the previous year [9]

Financial Data and Key Metrics Changes - In-market consumption during Q4 declined by 1%, while organic net sales decreased by 3%, primarily due to favorable shipment timing in Q3 reversing in Q4 [7][26] - Reported net sales increased by 1%, adjusted EBIT and adjusted EPS both decreased by 2% compared to the prior year [8][26] - For the full year, net sales grew by 6%, driven mainly by the Sovos Brands acquisition, while adjusted EBIT increased by 2% [8][29] Business Line Data and Key Metrics Changes - Meals and Beverages organic net sales decreased by 3% in Q4, with volume and mix down by 4% [13][31] - Snacks reported a 2% increase in net sales, but organic net sales decreased by 2%, driven by lower volume and mix [32][33] - The consumption of Meals and Beverages leadership brands increased by 1% in Q4, while Snacks leadership brand consumption declined by 2% [12][13] Market Data and Key Metrics Changes - The overall consumer environment remained cautious, with at-home cooking trends benefiting the Meals and Beverages segment [5][12] - The broth category saw a 7% consumption growth, while the soup portfolio's dollar share declined by 0.8 points due to the discontinuation of the Well Yes brand [15][17] - The Italian sauce category grew by 2% year-over-year, with Campbell's Italian sauce portfolio outpacing this at 4% growth [16] Company Strategy and Development Direction - The company plans to increase marketing investments and focus on innovation to support its brand portfolio [6][24] - A new growth office has been established to align innovation with consumer needs, emphasizing health and elevated taste experiences [10][24] - The company is committed to mitigating tariff impacts through various strategies, including cost savings initiatives and pricing actions [35][39] Management Comments on Operating Environment and Future Outlook - Management noted that consumers are increasingly seeking value, flavor-forward offerings, and health benefits, which are driving innovation [5][10] - The company expects a more significant impact from tariffs in fiscal 2026, projecting gross tariffs at approximately 4% of cost of products sold [34][38] - Despite challenges, management is optimistic about sustainable growth in fiscal 2026, focusing on productivity and cost savings [39][40] Other Important Information - The company plans to remove FD&C colors from its food and beverage products by the second half of fiscal 2026 [11] - The Sovos Brands acquisition performed well, contributing positively to net sales growth and integration synergies [29] Q&A Session Summary Question: Insights on fiscal 2026 outlook and factors affecting guidance - Management discussed the importance of brand support and innovation in navigating the dynamic operating environment, with a focus on productivity and cost savings [44][46] Question: Stabilization in the snacks category - Management highlighted that snacking occasions are stable, with a focus on premiumization and flavor exploration to connect with consumers [56][58] Question: Impact of tariffs on pricing strategy - Management indicated a surgical approach to pricing, balancing the need to offset tariffs while maintaining product quality [64][66] Question: Sustainability of tariff mitigation strategies - Management explained that inventory management and supplier collaboration are key levers, with alternative sourcing being explored where feasible [70][72]

Company Performance - US Foods reported quarterly earnings of $1.19 per share, exceeding the Zacks Consensus Estimate of $1.14 per share, and up from $0.93 per share a year ago, representing an earnings surprise of +4.39% [1] - The company posted revenues of $10.08 billion for the quarter ended June 2025, which was 1.01% below the Zacks Consensus Estimate, but an increase from $9.71 billion year-over-year [2] - Over the last four quarters, US Foods has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Stock Performance - US Foods shares have increased approximately 25.5% since the beginning of the year, significantly outperforming the S&P 500's gain of 7.9% [3] - The current consensus EPS estimate for the upcoming quarter is $1.03 on revenues of $10.24 billion, and for the current fiscal year, it is $3.83 on revenues of $39.8 billion [7] Industry Outlook - The Zacks Industry Rank indicates that the Food - Miscellaneous sector is currently in the bottom 23% of over 250 Zacks industries, suggesting potential challenges for stocks in this category [8] - The performance of US Foods may be influenced by the overall outlook for the industry, as empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions [5][8]

Core Viewpoint - Campbell's is anticipated to report a year-over-year decline in earnings despite an increase in revenues, which could significantly influence its stock price depending on the actual results compared to estimates [1][2]. Earnings Expectations - The upcoming earnings report is scheduled for June 2, 2025, with expectations of quarterly earnings at $0.65 per share, reflecting a year-over-year decrease of 13.3%. Revenues are projected to be $2.44 billion, representing a 2.9% increase from the previous year [3][2]. Estimate Revisions - The consensus EPS estimate has been revised down by 0.49% over the last 30 days, indicating a collective reassessment by analysts regarding the company's earnings outlook [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that the Most Accurate Estimate for Campbell is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -0.30%. This suggests a bearish sentiment among analysts regarding the company's earnings prospects [10][11]. Historical Performance - In the last reported quarter, Campbell exceeded the consensus EPS estimate of $0.73 by posting earnings of $0.74, achieving a surprise of +1.37%. Over the past four quarters, the company has consistently beaten consensus EPS estimates [12][13]. Investment Considerations - Despite the potential for an earnings beat, the combination of a negative Earnings ESP and a Zacks Rank of 3 makes it challenging to predict a positive outcome for Campbell's upcoming earnings report. Investors are advised to consider other factors beyond earnings surprises when making investment decisions [11][16].

Company Performance - US Foods reported quarterly earnings of $0.68 per share, missing the Zacks Consensus Estimate of $0.69 per share, but showing an increase from $0.54 per share a year ago, representing an earnings surprise of -1.45% [1] - The company posted revenues of $9.35 billion for the quarter ended March 2025, which was below the Zacks Consensus Estimate by 0.37%, but an increase from $8.95 billion year-over-year [2] - Over the last four quarters, US Foods has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Stock Outlook - The immediate price movement of US Foods' stock will depend on management's commentary during the earnings call and the sustainability of earnings expectations [3][4] - US Foods shares have increased by about 2.5% since the beginning of the year, contrasting with the S&P 500's decline of -4.3% [3] Earnings Estimates - The current consensus EPS estimate for the upcoming quarter is $1.11 on revenues of $10.15 billion, and for the current fiscal year, it is $3.77 on revenues of $39.51 billion [7] - The estimate revisions trend for US Foods is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Zacks Industry Rank for Food - Miscellaneous places it in the top 34% of over 250 Zacks industries, suggesting that the industry outlook can significantly impact stock performance [8] - Campbell's, another company in the same industry, is expected to report quarterly earnings of $0.65 per share, reflecting a year-over-year decline of -13.3% [9]