Filing Flows › Campbell's (CPB) › Q2 FY26
Campbell's (CPB) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Mar 11, 2026
Campbell's (CPB) reported revenue of $2.6B for the second quarter fiscal 2026 (Q2 FY26), -5% from a year earlier and -4% from the quarter before. Operating margin was 10.6%, net earnings $145M (5.7% of revenue).
Campbell's, Q2 FY26: revenue $2.6B (-4% year over year), operating margin 10.6%, net earnings $145M, operating cash flow $516M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.6B | -4% | -5% |
| Operating profit | $273M | -19% | -17% |
| Net earnings | $145M | -25% | -16% |
| Operating cash flow | $516M | +130% | +0.8% |
| Free cash flow | $416M | +329% | +1% |
What changed
Revenue was $2.6B in Q2 FY26, down 5% year over year and down 4% from the previous quarter. Snacks was the largest line at 39% of revenue. Snacks lost $0.06B year over year (down 6%), 52% of the total change.
Operating profit was $0.27B, a 10.6% margin (down 1.5 points year over year). Total costs fell 3% while revenue fell 5%. Net earnings were $0.14B, down 16% year over year. The effective tax rate was 24.9%.
Operating cash flow was $0.52B (up 1% year over year), 356% of net earnings. Non-cash charges added back $0.10B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.25B. Capital expenditures of $0.10B left free cash flow of $0.42B.
Questions
What was Campbell's revenue in the second quarter fiscal 2026?
Campbell's (CPB) reported revenue of $2.6B for the second quarter fiscal 2026 (Q2 FY26), -5% from a year earlier and -4% from the quarter before.
Was Campbell's profitable in the second quarter fiscal 2026?
Operating profit was $273M (10.6% of revenue) and net earnings $145M.
Source: Campbell's 10-Q on SEC EDGAR.