EarningsQ2 2026 Earnings Report
DE:BSND Q2 2026 EPS Results
Actual EPS€0.39
Consensus EPS€0.38
Beat/MissBeat by +<€0.01
One Year Ago EPS€0.33
DE:BSND Q2 2026 Revenue Results
Actual Revenue€14.47B
Expected Revenue€7.28B
Beat/MissBeat by +€7.20B
YoY Revenue Growth+8.35%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeBefore Open
Conference CallWednesday, July 29, 2026
DE:BSND Upcoming Earnings
Danone SA's next earnings date is estimated for February 24, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:BSND Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly constructive picture: broad‑based organic growth across regions and categories, modest margin improvement at group level (+12 bps) and solid cash generation (EUR 0.9bn), alongside active M&A that enhances the health‑focused portfolio. These positives were tempered by legacy IMF recall effects, localized competitiveness issues in North America EDP (capacity constraints), timing‑related EDP margin pressure from inflation versus pricing, an intentional inventory build (~EUR 250m) that temporarily reduced near‑term free cash flow, and currency/refinancing headwinds. Management reiterated FY guidance and outlined concrete remediation and investment plans, signaling confidence in the recovery trajectory.Company Guidance
Strong Like-for-Like Sales Growth
Group like-for-like sales: Q2 +4.2% and H1 +3.5%; reported sales EUR 7.2bn (+4.4% vs. prior year). Company confirmed FY26 guidance of +3% to +5% like-for-like sales growth.
Balanced Regional Momentum
APAC delivered Q2 like‑for‑like +5.2% (H1 +5.6%); Americas Q2 +4.3% (H1 +3.9%); EMEA Q2 +3.6% (H1 +2.1%). Growth was broad‑based across geographies.
Category-Level Strength
EDP grew like‑for‑like +3.8% in Q2; Specialized Nutrition +4.5% in Q2; Waters +4.7% in Q2. High‑protein dairy platforms grew double‑digit across regions; Skyr and Kefir double‑digit in Europe; Alpro plant‑based delivered high single‑digit growth in Europe.
Profitability, EPS and Cash Generation
Recurring operating margin improved by 12 basis points year‑on‑year to 13.3% in H1. Recurring EPS was EUR 1.92, up +0.9% vs prior year. Free cash flow generation reached EUR 0.9bn in H1.
Medical Nutrition & Strategic Channel Outperformance
Medical Nutrition (including Nutrison, Fortimel, Neocate) grew high single to double digits in H1. Strategic channels (away‑from‑home, hospitals, pharmacies, home care) grew 2–3x faster than mass retail, enhancing quality of growth.
Active M&A and Strategic Deals
Transactions announced in H1: contemplated acquisition of Huel, joint venture in Argentina with Arcor (deconsolidation expected but EPS accretive over time), and acquisition of Made Group (adds >EUR 400m sales in APAC and stated accretive to margin and EPS from year 1). Kate Farms already consolidated in scope.
Execution and Productivity Offsets
Disciplined execution and productivity initiatives offset headwinds (IMF recall and commodity cost increases), enabling margin improvement and continued investment behind brands, science, and innovation.
DE:BSND Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed