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THE CAMPBELL’S COMPANY
Segment Information
Recast for Change in Segments
(millions)
(unaudited)

Three Months EndedThree Months EndedSix Months Ended
October 27, 2024January 26, 2025January 26, 2025
Fiscal 2025Meals & BeveragesSnacksTotalMeals & BeveragesSnacksTotalMeals & BeveragesSnacksTotal
Net sales$1,739 $1,033 $2,772 $1,711 $974 $2,685 $3,450 $2,007 $5,457 
Cost of products sold1,175 725 1,168 704 2,343 1,429 
Other segment items(1)
221 172 247 161 468 333 
Segment operating earnings$343 $136 $479 $296 $109 $405 $639 $245 $884 

Three Months EndedNine Months EndedThree Months Ended
April 27, 2025April 27, 2025August 3, 2025
Fiscal 2025Meals & BeveragesSnacksTotalMeals & BeveragesSnacksTotalMeals & BeveragesSnacksTotal
Net sales$1,493 $982 $2,475 $4,943 $2,989 $7,932 $1,236 $1,085 $2,321 
Cost of products sold1,040 690 3,383 2,119 842 766 
Other segment items(1)
200 152 668 485 188 166 
Segment operating earnings$253 $140 $393 $892 $385 $1,277 $206 $153 $359 

Three Months EndedThree Months EndedSix Months Ended
October 29, 2023January 28, 2024January 28, 2024
Fiscal 2024Meals & BeveragesSnacksTotalMeals & BeveragesSnacksTotalMeals & BeveragesSnacksTotal
Net sales$1,434 $1,084 $2,518 $1,411 $1,045 $2,456 $2,845 $2,129 $4,974 
Cost of products sold954 754 951 734 1,905 1,488 
Other segment items(1)
187 175 207 156 394 331 
Segment operating earnings$293 $155 $448 $253 $155 $408 $546 $310 $856 

Three Months EndedNine Months EndedThree Months Ended
April 28, 2024April 28, 2024July 28, 2024
Fiscal 2024Meals & BeveragesSnacksTotalMeals & BeveragesSnacksTotalMeals & BeveragesSnacksTotal
Net sales$1,305 $1,064 $2,369 $4,150 $3,193 $7,343 $1,231 $1,062 $2,293 
Cost of products sold882 746 2,787 2,234 823 751 
Other segment items(1)
187 158 581 489 190 159 
Segment operating earnings$236 $160 $396 $782 $470 $1,252 $218 $152 $370 
1




THE CAMPBELL’S COMPANY
Segment Information
Recast for Change in Segments
(millions)
(unaudited)

Twelve Months Ended
August 2, 2025July 28, 2024July 30, 2023
Meals & BeveragesSnacksTotalMeals & BeveragesSnacksTotalMeals & BeveragesSnacksTotal
Net sales$6,179 $4,074 $10,253 $5,381 $4,255 $9,636 $5,022 $4,335 $9,357 
Cost of products sold4,225 2,885 3,610 2,985 3,365 3,078 
Other segment items(1)
856 651 771 648 739 641 
Segment operating earnings$1,098 $538 $1,636 $1,000 $622 $1,622 $918 $616 $1,534 
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(1)Other segment items for each of the reportable segments include marketing and selling expenses, administrative expenses, research and development expenses and expense for amortization of intangible assets.
2