Data Interpretation: How the COVID-19 Pandemic Reshaped the Sales Landscape of U.S. Food Companies
The COVID-19 pandemic led to a surge in sales for U.S. food companies, but not all benefited. By comparing financial data from eight quarters before and after the pandemic, this article analyzes sales changes across companies and points out that some firms suffered losses due to pandemic-related factors.

After years of slow growth or even stagnation, the COVID-19 pandemic brought a significant sales boost to U.S. food companies. However, not all companies benefited—some suffered major losses due to issues with sales, production, and consumer perception.
Food Dive analyzed the earnings reports of several U.S. publicly traded food companies over the past eight quarters to assess the pandemic's impact on sales and growth. The charts below compare sales from the most recent four quarters (at least partially during pandemic lockdowns) with the same period a year earlier (pre-pandemic).
The comparison shows significant increases or decreases in sales across companies, but overall sales patterns remained largely stable. For example, most companies that had higher summer sales before the pandemic maintained the same seasonal trends during the pandemic, but with higher absolute sales figures. However, this pattern was not universal. Coca-Cola, for instance, saw a decline in summer sales last year—despite summer typically being its peak season—likely related to the closure of large event venues.
Although the following contains several similar charts, each chart uses an independent scale to more clearly illustrate the sales change characteristics of each company.
Quarterly sales comparison of major food companies (pre- and post-pandemic)
The charts below are based on each company's quarterly earnings data, comparing sales from the four quarters before the pandemic with the four quarters during the pandemic. Data sources are each company's public financial reports, with specific periods varying slightly due to differences in fiscal years.
B&G Foods
Data covers quarterly earnings from March 2019 to December 2020.
Campbell Soup
Data covers quarterly earnings from April 2019 to January 2021.
Coca-Cola
Data covers quarterly earnings from March 2019 to December 2020.
Conagra Brands
Data covers quarterly earnings from May 2019 to February 2021.
General Mills
Data covers quarterly earnings from May 2019 to February 2021.
Hershey
Data covers quarterly earnings from March 2019 to December 2020.
Hormel
Data covers quarterly earnings from April 2019 to January 2021.
Kellogg
Data covers quarterly earnings from April 2019 to January 2021.
Keurig Dr Pepper
Data covers quarterly earnings from March 2019 to December 2020.
Kraft Heinz
Data covers quarterly earnings from March 2019 to December 2020.
Mondelez
Data covers quarterly earnings from March 2019 to December 2020.
PepsiCo
Data covers quarterly earnings from March 2019 to December 2020.
TreeHouse Foods
Data covers quarterly earnings from March 2019 to December 2020.
Tyson Foods
Data covers quarterly earnings from March 2019 to December 2020.
This article is the second in a four-part series focusing on the pandemic's impact on food and beverage company sales. All articles can be foundhere. Next week, Food Dive will look at companies that did not follow the general growth pattern.