Campbell Soup (NASDAQ:CPB) reported its first-quarter fiscal 2025 results, meeting overall expectations, but its shares declined by more than 1% pre-market today as organic revenue growth came in below analyst projections. The company posted adjusted earnings per share of $0.89, slightly surpassing the Street consensus estimate of $0.88. Net sales rose 10% year-over-year to $2.8 billion, aligning with analyst expectations. However, organic net sales, which exclude the effects of acquisitions and divestitures, dropped 1% from the prior-year period.

The Meals & Beverages segment delivered robust performance, with net sales climbing 22% to $1.71 billion, primarily driven by the acquisition of Sovos Brands. In contrast, the Snacks segment saw revenue decline 4% to $1.07 billion, reflecting the impact of the divestiture of the Pop Secret popcorn business.

Despite the challenging consumer environment and a slow recovery pace across categories, Campbell reaffirmed its full-year fiscal 2025 guidance. The company projected net sales growth of 9% to 11% and adjusted earnings per share in the range of $3.12 to $3.22, maintaining its commitment to achieving its long-term objectives.