Campbell's Serves Up Profits
Published June 12, 2026
The Campbell’s Company (CPB) posted its third quarter earnings report on Monday, June 8. The company reported earnings that beat expectations, resulting in a 3% increase in shares following the release.
Net sales came in at $2.37 billion for the quarter, down 4% from $2.48 billion in net sales during the same quarter last year. This was slightly below analysts’ expectations of $2.39 billion in net sales.
“Our third quarter results were generally in-line with our expectations but remained under pressure, reflecting top-line softness and inflation-driven margin headwinds,” said Campbell’s CEO, Mick Beekhuizen. “Across the company, we are focused on simplifying the business, accelerating productivity and cost savings, and creating fuel to invest behind our strongest opportunities. We are moving with urgency and remain confident in the long-term strength of our portfolio and our ability to create shareholder value.”
For the quarter, Campbell’s reported net income of $124 million or $0.41 per diluted share. This was an increase from $66 million in net income or $0.22 per diluted share at this time last year.
The company’s Meals & Beverages segment, which includes its line of soups and beverages such as Swanson, Prego, Pace, V8 and Pacific Foods, posted revenues of $1.43 billion, a 4% decrease in net sales for the quarter. The Snacks segment, which includes Pepperidge Farm cookies and Goldfish crackers, also reported a 4% decrease in net sales and net revenue of $940 million. Campbell’s reaffirmed its full year fiscal 2026 guidance and expects adjusted earnings per share to decrease to between $2.15 to $2.25.
The Campbell’s Company (CPB) shares ended the week at $22.81, up 3% for the week.
Mission Produce Posts Quarterly Results
Mission Produce, Inc. (AVO) announced its second quarter earnings on Monday, June 8. The company reported earnings and sales that fell below analysts’ expectations, causing its shares to fall by over 4% following the report’s release.
Mission posted quarterly revenue of $290.9 million, down 24% from $380.3 million reported in the same quarter last year. Second quarter revenue was slightly below estimates of $291.47 million.
"This quarter was shaped by high volumes, low prices, strong execution by our sales and operations teams, and unfortunately, margin compression concentrated in April," said Mission CEO, John Pawlowski. “We see meaningful opportunity to improve asset utilization, strengthen mix, and convert our category leadership into higher earnings power over time. We are aligned on our agenda and focused on executing it with discipline. We look forward to sharing more about our next chapter at our Investor Day coming up very shortly in the Fall.”
Mission posted a net loss of $7.4 million or $0.10 per adjusted share. This was a decline from net income of $3.0 million or $0.04 per adjusted share the previous year.
The Oxnard, California-based produce company is one of the largest suppliers of avocados worldwide. For the second quarter, Mission’s net sales in the Marketing and Distribution segment declined by more than 23% over the prior year to reach $277.2 million. The company’s International Farming segment reported a 5% decrease in sales to $7.7 million for the quarter, and its Blueberries segment reported a decrease of 30% to $11.0 million. For the third quarter of fiscal year 2026, Mission expects to export approximately 120 million to 130 million pounds of Peruvian avocados but anticipates that prices will decrease by 15% compared to the previous year.
Mission Produce, Inc. (AVO) shares ended the week at $11.20, up 9% for the week.
Cracker Barrel Reports Quarterly Earnings
Cracker Barrel Old Country Store, Inc. (CBRL) announced its third quarter earnings report on Tuesday, June 9. The Tennessee-based restaurant chain’s stock rose by more than 27% following the earnings release.
Cracker Barrel posted quarterly revenue of $797.4 million. This was down 3% from $821.1 million reported during the same quarter last year but topped analysts’ expectations of $776.7 million.
“Our initiatives to improve operations, deepen guest connection, and enhance profitability continue to gain traction, with strong execution from our teams driving third quarter results that exceeded expectations,” said Cracker Barrel CEO, Julie Masino. “We remain focused on serving delicious food and delivering experiences guests love and believe we are well-positioned to sustain this new momentum."
Cracker Barrel reported third quarter net income of $42.8 million or $1.90 per adjusted share. Last year at this time, the company reported net income of $12.6 million or $0.56 per adjusted share.
Cracker Barrel’s comparable store restaurant sales declined 2.6%, while comparable store retail sales decreased 1.8%. The company ended the period with 657 Cracker Barrel stores and 52 Maple Street Biscuit Company stores. The company confirmed it authorized a quarterly cash dividend of $0.25 per share of common stock payable on August 12, 2026, to shareholders of record as of July 17, 2026. The company updated its full-year 2026 guidance and anticipates revenue in the range of $3.27 billion to $3.30 billion.
Cracker Barrel Old Country Store, Inc. (CBRL) shares closed at $46.69, up 41% for the week.
The Dow started the week 6/8 at 50,997 and closed at 51,202 on 6/12. The S&P 500 started the week at 7,441 and closed at 7,431. The NASDAQ started the week at 26,065 and closed at 25,889.
