Let’s dig into the relative performance of Hershey (NYSE: HSY) and its peers as we unravel the now-completed Q1 shelf-stable food earnings season.

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 15 shelf-stable food stocks we track reported a mixed Q1. As a group, revenues beat analysts’ consensus estimates by 0.6% while next quarter’s revenue guidance was 1.8% below.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 7.7% since the latest earnings results.

Best Q1: 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 $3.10 billion, up 10.6% year on year. This print exceeded analysts’ expectations by 2.4%. Overall, it was a very strong quarter for the company with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ organic revenue estimates.

"We kicked off the year strong and are on track to hit our financial targets for 2026. Hershey's and Reese's are key drivers, delivering first quarter non-seasonal retail sales lifts of 11% and 10%, respectively. We are laser-focused on fueling core growth and making bold moves in brand investment, innovation, R&D, technology, and talent to drive our business to new heights," said Kirk Tanner, The Hershey Company President and Chief Executive Officer.

The stock is down 1.8% since reporting and currently trades at $185.75.

Is now the time to buy Hershey? Access our full analysis of the earnings results 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 $1.56 billion, up 2.9% year on year, outperforming analysts’ expectations by 5.2%. The business had a very strong quarter with a solid beat of analysts’ organic revenue estimates.

Lamb Weston pulled off the biggest analyst estimate beat among its peers. However, the results were likely priced into the stock as it’s traded sideways since reporting. Shares currently sit at $42.56.

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

Weakest Q1: 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 $598.7 million, up 1.8% year on year, falling short of analysts’ expectations by 1.7%. It was a disappointing quarter as it posted full-year EBITDA guidance missing analysts’ expectations and a significant miss of analysts’ adjusted operating income estimates.

As expected, the stock is down 46.1% since the results and currently trades at $9.35.

Read our full analysis of BellRing Brands’s results here.

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 $326 million, down 9.4% year on year. This print came in 5.2% below analysts’ expectations. Overall, it was a softer quarter as it also logged full-year revenue and EBITDA guidance missing analysts’ expectations significantly.

Simply Good Foods had the weakest performance against analyst estimates among its peers. The stock is down 19.5% since reporting and currently trades at $11.60.

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

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 $2.97 billion, up 2.5% year on year. This number met analysts’ expectations. It was a strong quarter as it also produced an impressive beat of analysts’ EBITDA and gross margin estimates.

The stock is up 11.4% since reporting and currently trades at $23.34.

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

Market Update

Late in 2025 into early 2026, there was hand-wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.