While inflation has strained household budgets, Americans are still snacking on Campbell's salty crackers and cookies, while also cutting back on restaurant orders in favor of cooking at home, boosting demand for the company's ready-to-eat meals.

Campbell is also benefiting from a recovery in its supply chains, which has helped the soup maker put more of its products on store shelves and ramp up shipments in its food service segment that caters to restaurants, schools and healthcare facilities.

Campbell said organic sales in its snacks division, which represents roughly half of its portfolio, jumped 15% in the second quarter, fueled by robust demand for its brands including Goldfish crackers, Cape Cod potato chips and Pepperidge Farm cookies.

The company's net sales rose to $2.49 billion in the quarter ended Jan. 29, from $2.21 billion a year earlier, compared to analysts' average estimate of $2.44 billion in Refinitiv IBES data.

The Camden, New Jersey-based soup maker said it expected net sales to rise between 8.5% and 10% in fiscal 2023, compared with its previous forecast of 7% to 9% growth. Analysts on average were expecting an 8.3% jump to $9.27 billion.

The over 150-year-old company also raised the lower end of its forecast for annual adjusted earnings to between $2.95 and $3.00 per share, compared with its prior expectation of $2.90 to $3.00.

(Reporting by Deborah Sophia in Bengaluru; Editing by Milla Nissi)