NEW YORK — Campbell Soup Co. has transformed its portfolio over the past few years in several ways: by focusing on brand scale and breadth, reforming the supply chain, innovating in product development and consistently delivering on what the company says.

Coming out of a “prolonged period of macroeconomic and environmental challenges,” the company is currently at an inflection point, said Mark Clouse, president and chief executive officer. He spoke June 13 during a “virtual fireside chat” to the Evercore ISI Consumer and Retail Conference in New York.

“… I can tell you with a high degree of confidence, I really feel terrific about where we are, and I feel really good about how I think we’re positioned against competition both from the brand as well as (the) self-help story on margin and earnings growth,” he said.

Campbell Soup’s third-quarter net earnings fell 17%, but net sales were up 6% over the year-ago period due to the company’s Sovos Brands acquisition. Although Meals and Beverages sales rose 15% in the quarter, sales in the Snack business slipped 2%.

The company has targeted the snacking sector over the past two years, which Clouse called “a little overly ambitious in our projections,” although he added that he has no concern about the “structural nature of the behavior of snacking” and what it means to consumers.

He said the company’s portfolio “is really well-positioned in what I would call the more elevated … added value experience spaces, which is really the primary driver of growth in snacking, where people are seeking either unique flavors, texture, more unique experience.”

One example is the recent debut of Pepperidge Farm Goldfish crackers with a spicy dill pickle flavor.

A consequence of the pivot toward snacks is the company’s soup business now represents less than 25% of the total portfolio, Clouse said. While he noted soup was “still an important business,” snack products in the form of “eight power brands” now comprise two-thirds of Campbell Soup’s total business.

Those brands include Goldfish, plus Late July chips and Pepperidge Farm cookies. Clouse indicated on a June 5 analyst call the latter two were a bright spot in what he expects to be short-term pressure on the category.

However, the company still continues to innovate in the soup category by recently introducing a line of spicy soups and broths under both its namesake label and the Swanson brand.

Meanwhile, Campbell Soup is making about $230 million in supply chain investments this year through 2027 to upgrade manufacturing facilities, close some less-efficient plants and move production to more modern ones.

Clouse told the Evercore ISI conference that while he wasn’t “anxious to go out and do more M&A,” he found the growth in authentic, ethnic snacking intriguing to watch.

“And the ability to bring more of that authenticity into the portfolio is yet another place of added value,” he said, adding, “But I feel very good about how our portfolio is positioned to match ultimately with where consumers are.”

Campbell Soup plans to hold an Analyst Day in September, its first in 2.5 years.