Packaged food company Campbell's (NASDAQ: CPB) will be reporting results this Wednesday before market hours. Here’s what to expect.

Campbell's beat analysts’ revenue expectations last quarter, reporting revenues of $2.68 billion, down 3.4% year on year. It was a satisfactory quarter for the company, with a narrow beat of analysts’ organic revenue estimates but a slight miss of analysts’ gross margin estimates.

Is Campbell's a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Campbell’s revenue to decline 2.9% year on year, a reversal from the 9.3% increase it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Campbell's has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at Campbell’s peers in the shelf-stable food segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Hershey delivered year-on-year revenue growth of 7%, beating analysts’ expectations by 3.8%, and BellRing Brands reported flat revenue, topping estimates by 6.7%. Hershey traded up 12.5% following the results while BellRing Brands was down 13.4%.

Read our full analysis of Hershey’s results here and BellRing Brands’s results here.

Questions about potential tariffs and corporate tax changes have caused much volatility in 2025. While some of the shelf-stable food stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 4.3% on average over the last month. Campbell's is down 12.6% during the same time and is heading into earnings with an average analyst price target of $30.17 (compared to the current share price of $25.29).

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