The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how shelf-stable food stocks fared in Q4, starting with Hershey (NYSE: HSY).

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 Q4. As a group, revenues beat analysts’ consensus estimates by 0.5%.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 12.8% since the latest earnings results.

Best Q4: 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 $3.09 billion, up 7% year on year. This print exceeded analysts’ expectations by 3.8%. Overall, it was an exceptional quarter for the company with an impressive beat of analysts’ EBITDA estimates and full-year EPS guidance exceeding analysts’ expectations.

"As we enter 2026, we have strong conviction in the momentum of our business," said Kirk Tanner, The Hershey Company President and Chief Executive Officer.

Interestingly, the stock is up 5.7% since reporting and currently trades at $217.58.

Is now the time to buy Hershey? Access our full analysis of the earnings results here, it’s free.

BellRing Brands (NYSE: BRBR)

Spun out of Post Holdings in 2019, Bellring Brands (NYSE: BRBR) offers protein shakes, nutrition bars, and other products under the PowerBar, Premier Protein, and Dymatize brands.

BellRing Brands reported revenues of $537.3 million, flat year on year, outperforming analysts’ expectations by 6.7%. The business had a very strong quarter with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ organic revenue estimates.

BellRing Brands achieved the biggest analyst estimates beat and highest full-year guidance raise among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 31% since reporting. It currently trades at $16.83.

Is now the time to buy BellRing Brands? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: 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 $2.56 billion, down 4.5% year on year, falling short of analysts’ expectations by 1.6%. It was a disappointing quarter as it posted a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS estimates.

As expected, the stock is down 12% since the results and currently trades at $21.71.

Read our full analysis of Campbell’s results here.

Hormel Foods (NYSE: HRL)

Best known for its SPAM brand, Hormel (NYSE: HRL) is a packaged foods company with products that span meat, poultry, shelf-stable foods, and spreads.

Hormel Foods reported revenues of $3.03 billion, up 1.3% year on year. This result came in 1.5% below analysts' expectations. More broadly, it was a mixed quarter as it also produced a decent beat of analysts’ EBITDA estimates but a slight miss of analysts’ revenue estimates.

The stock is down 10% since reporting and currently trades at $22.78.

Read our full, actionable report on Hormel Foods here, it’s free.

Lamb Weston (NYSE: LW)

Best known for its Grown in Idaho brand, Lamb Weston (NYSE: LW) produces and distributes potato products such as frozen french fries and mashed potatoes.

Lamb Weston reported revenues of $1.62 billion, up 1.1% year on year. This print topped analysts’ expectations by 1.8%. Aside from that, it was a mixed quarter as it also logged a solid beat of analysts’ organic revenue estimates but full-year EBITDA guidance missing analysts’ expectations.

Lamb Weston had the weakest full-year guidance update among its peers. The stock is down 31.3% since reporting and currently trades at $40.75.

Read our full, actionable report on Lamb Weston here, it’s free.

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