Campbell's Company (The)

Demand for soups, sauces, and mainstream snacks is recurring and weather-resilient, underpinning stable cash generation. Reported FY25 net sales grew 6% to 10.3 billion dollars, aided by Sovos and a 53rd week, while organic sales dipped 1%, reflecting category softness in Snacks.

Q1 FY26 results were consistent with guidance, and management reaffirmed FY26 ranges while calling out tariff and investment headwinds. The business is primarily US and Canada, limiting geopolitical risk and currency volatility.

Predictability is better than average for staples, but category mix shift and retailer bargaining power introduce some variability. Citations: FY25 Q4 release, Q1 FY26 release.