The end of the earnings season is always a good time to take a step back and see who shined (and who didn’t). Let’s take a look at how shelf-stable food stocks fared in Q2, starting with Simply Good Foods (NASDAQ:SMPL).
As America industrialized and moved away from an agricultural economy, people faced more demands on their time. Packaged foods emerged as a solution offering convenience to the evolving American family, whether it be canned goods or snacks. Today, Americans seek brands that are high in quality, reliable, and reasonably priced. Furthermore, there's a growing emphasis on health-conscious and sustainable food options. Packaged food stocks are considered resilient investments. People always need to eat, so these companies can enjoy consistent demand as long as they stay on top of changing consumer preferences. The industry spans from multinational corporations to smaller specialized firms and is subject to food safety and labeling regulations.
The 17 shelf-stable food stocks we track reported a mixed Q2. As a group, revenues beat analysts’ consensus estimates by 0.8% while next quarter’s revenue guidance was 3.6% below.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 9.6% since the latest earnings results.
Simply Good Foods (NASDAQ:SMPL)
Best known for its Atkins brand that was inspired by the popular diet of the same name, Simply Good Foods (NASDAQ:SMPL) is a packaged food company whose offerings help customers achieve their healthy eating or weight loss goals.
Simply Good Foods reported revenues of $357 million, down 6.3% year on year. This print exceeded analysts’ expectations by 5.1%. Overall, it was a strong quarter for the company with an impressive beat of analysts’ EBITDA estimates and a beat of analysts’ EPS estimates.
“Our third quarter results reflect initial steps against the turnaround priorities we outlined last quarter. While we are still in the early stages of this work, we are beginning to see some signs of improved alignment around our three key priorities. We delivered third quarter net sales of $357 million and Adjusted EBITDA of $57 million, ahead of our expectations, with performance supported in part by the early effect of select cost actions we announced last quarter,” said Joe Scalzo, President and Chief Executive Officer.
Simply Good Foods pulled off the highest full-year guidance raise among its peers. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 25% since reporting and currently trades at $9.64.
Is now the time to buy Simply Good Foods? Access our full analysis of the earnings results here, it’s free.
Best Q2: J. M. Smucker (NYSE:SJM)
Best known for its fruit jams and spreads, J.M Smucker (NYSE:SJM) is a packaged foods company whose products span from peanut butter and coffee to pet food.
J. M. Smucker reported revenues of $2.22 billion, up 5% year on year, outperforming analysts’ expectations by 4.3%. The business had a stunning quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 2.8% since reporting. It currently trades at $122.
Is now the time to buy J. M. Smucker? Access our full analysis of the earnings results here, it’s free.
Weakest Q2: Hain Celestial (NASDAQ:HAIN)
Sold in over 75 countries around the world, Hain Celestial (NASDAQ:HAIN) is a natural and organic food company whose products range from snacks to teas to baby food.
Hain Celestial reported revenues of $263.1 million, down 27.6% year on year, falling short of analysts’ expectations by 2.2%. It was a softer quarter as it posted a significant miss of analysts’ gross margin estimates and EPS in line with analysts’ estimates.
Hain Celestial delivered the slowest revenue growth in the group. As expected, the stock is down 11.7% since the results and currently trades at $0.55.
Read our full analysis of Hain Celestial’s results here.
Campbell's (NASDAQ:CPB)
With its iconic canned soup as its cornerstone product, Campbell's (NASDAQ:CPB) is a packaged food company with an illustrious portfolio of brands.
Campbell's reported revenues of $2.14 billion, down 7.9% year on year. This number met analysts’ expectations. However, it was a slower quarter as it recorded full-year EPS guidance missing analysts’ expectations and a miss of analysts’ gross margin estimates.
The stock is down 14.5% since reporting and currently trades at $20.33.
Read our full, actionable report on Campbell's here, it’s free.
Hershey (NYSE:HSY)
Best known for its milk chocolate bar and Hershey's Kisses, Hershey (NYSE:HSY) is an iconic company known for its chocolate products.
Hershey reported revenues of $2.79 billion, up 6.6% year on year. This print beat analysts’ expectations by 5.7%. Overall, it was an exceptional quarter as it also logged an impressive beat of analysts’ gross margin estimates and a solid beat of analysts’ organic revenue estimates.
Hershey delivered the biggest analyst estimate beat of the whole group. The stock is down 7.9% since reporting and currently trades at $169.35.
Read our full, actionable report on Hershey here, it’s free.
Market Update
Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.
Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.
By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.
Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.