The Campbell's Company (CPB) Presents at Barclays 19th Annual Global Consumer Staples Conference Transcript

SA Transcripts 162.14K Followers Follow The Campbell's Company ( CPB ) Barclays 19th Annual Global Consumer Staples Conference September 9, 2026 2:15 PM EDT Company Participants Todd Cunfer - Executive VP & Chief Financial Officer Mick Beekhuizen - CEO, President & Director Conference Call Participants Andrew Lazar - Barclays Bank PLC, Research Division Presentation Andrew Lazar Barclays Bank PLC, Research Division Perfect. Welcome back everybody. Thanks so much for joining us. And welcome back for our fireside chat with The Campbell's company. With us today are President and CEO, Mick Beekhuizen; and CFO, Todd Cunfer, welcome to you both. Todd Cunfer Executive VP & Chief Financial Officer Thank you. Andrew Lazar Barclays Bank PLC, Research Division Thanks for being here. Mick Beekhuizen CEO, President & Director Thank you for having us. Question-and-Answer Session Andrew Lazar Barclays Bank PLC, Research Division Maybe, Mick, we start with you. Perhaps it makes sense to start by maybe taking a step back a little bit. Over the past several years, Campbell's navigated a meaningful amount of volatility. The company has also experienced some persistent volume pressure, particularly within Snacks, significant margin compression and rising balance sheet constraints. That ultimately culminated in a series of difficult decisions announced last week, including a dividend reduction, a substantially larger cost savings program, plant closures, additional pricing and a more concentrated approach to investment. I guess from your perspective, what happened over the past several years that sort of brought the company to this point? And what are the most important lessons that inform the strategy you're sort of putting in place currently? Mick Beekhuizen CEO, President & Director Yes. So maybe kind of stepping back, first of all, with where we're at right now. And when you look at how do we get here? So the consumer really evolved over the past years. And you see that play out across our portfolio. If I