CPB Latest Report

Key Financial Data

1. Campbell's total operating revenue was US$2.685 billion, and its operating revenue in Q1 2024 was US$2.772 billion, showing a certain growth trend.

2. The convenience food industry as a whole showed a growth trend in 2025, especially after the pandemic, as consumers' demand for convenient food continued to rise.

3. Campbell launched Noosa yogurt to strengthen its core brand and promote its long-term growth strategy.

Peer Comparison

1. Industry-wide analysis: According to market trends, the convenience food industry as a whole showed a growth trend in 2025, especially after the pandemic, as consumers became more inclined to convenient food options. According to iMedia Research's forecast, the market size of convenient noodles and instant noodles will reach RMB231.23 billion in 2025, up from RMB214.32 billion in 2024, showing a continuous growth trend. The market size of frozen rice and wheat products is expected to exceed RMB200 billion in 2025, with an annual compound growth rate of about 7%-10%. This trend indicates that consumers' demand for convenient food is rising in the context of a faster pace of life and upgrading consumption.

2. Peer evaluation analysis: Compared with peers, Campbell's total operating revenue performed well, especially in launching new products and optimizing the supply chain. Although specific year-on-year data are missing, overall industry data show that Campbell's competitiveness in the market remains strong, especially in the field of convenient food.

Summary

In summary, Campbell performed well in terms of operating revenue, benefiting from changes in market demand and product innovation. Although year-on-year data are lacking for comparison, from the industry trend, Campbell's growth prospects remain optimistic.

Opportunities

1. The rising demand for convenient food among consumers provides Campbell with opportunities for market expansion.

2. Through the launch of new products such as Noosa yogurt, Campbell has the opportunity to further consolidate its position in the food industry.

3. The overall favorable industry trend drives Campbell's operating revenue to continue growing.

Risks

1. Intensified competition, with General Mills and Nestlé also increasing their market share, may affect Campbell's profitability.

2. The rising demand for health and functional foods may affect the sales of traditional convenient foods.

3. Changes in the macroeconomic environment may affect consumer spending and, in turn, affect the growth of operating revenue.