Nestle reports 1H underlying EPS up 11.1% to CHF 2.43

Underlying earnings per share increased by 11.1% in constant currency and increased by 4.1% on a reported basis to CHF 2.43. Earnings per share increased by 10.6% to CHF 2.13 on a reported basis. Total reported sales increased by 1.6% to CHF 46.3B vs. CHF 45.6B last year. Mark Schneider, Nestle CEO, commented: “We pursued our strategic priorities with discipline and focus in a fast-evolving consumer environment. Based on the strong performance in the first half of the year we upgrade our organic sales growth outlook for 2023. At-home consumption post-COVID has now normalized, removing a growth drag on some of our categories. Out-of-home channels continue to see strong growth momentum.”