Canned soup maker Campbell's has reported net sales of $2.48bn for its third quarter, up 4% year-on-year and ahead of analyst' average expectations of $2.43bn.

The company was helped by strong demand for canned food and soups as economic uncertainty caused consumers to increasingly eat at home.

Campbell's has maintained its net sales growth forecast of 6-8% for its 2025 financial year, excluding the impact of tariffs.

It has projected annual adjusted profit per share at the lower end of its prior $2.95 to $3.05 ranged, owing to weak snacks demand.

When taking into account the tariffs currently in place, the firm expects a hit of 3c-5c per share, and it is pursuing possible pricing actions while seeking lower product costs from suppliers to minimise the impact.

Volumes for Campbell's meals and beverages unit rose 7% during the quarter, while its snacks business reported a 5% decline.

The company’s adjusted per share profit of 73 cent also surpassed the estimate of 66 cent.

“We delivered solid third quarter results that exceeded our expectations partially due to [favourable] shipment timing. In Meals & Beverages, we are seeing improved consumption across all consumer income groups. Consumers are cooking at home at the highest levels since early 2020 and turning to our brands for value, quality, and convenience," said CEO Mick Beekhulzen.

"Within Snacks, performance was mixed across the portfolio, and while we’re benefiting from some strong innovation launches, we are adjusting our plans to make sure we’re competitive across our full brand portfolio.

"Our overall performance reflects our strong execution and disciplined cost management in what remains a dynamic operating environment. We continue to evolve our [organisation] and capabilities to better leverage our scale for growth and drive long-term value creation."

(Pic: Justin Sullivan/Getty Images)