EarningsQ2 2026 Earnings Report
DE:NESM Q2 2026 EPS Results
Actual EPS€2.42
Consensus EPS€2.28
Beat/MissBeat by +€0.15
One Year Ago EPS€2.21
DE:NESM Q2 2026 Revenue Results
Actual Revenue€48.86B
Expected Revenue€24.20B
Beat/MissBeat by +€24.65B
YoY Revenue Growth+6.80%
Earnings Announcement Details
QuarterQ2 2026
Date07/23/2026
TimeBefore Open
Conference CallThursday, July 23, 2026
DE:NESM Upcoming Earnings
Nestle SA Reg's next earnings date is estimated for February 18, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:NESM 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 balanced picture: Nestlé reported solid top-line momentum (3.6% OG, RIG improving quarter-on-quarter) and strong execution on cost savings and cash generation, while simultaneously addressing structural moves (portfolio sharpening and higher marketing effectiveness). However, material near-term headwinds remain — notably the infant formula recall impact, one-off disposal and restructuring charges, regional margin pressures (Europe/Americas), petcare destocking in the U.S. and FX impacts. Management reiterated guidance, highlighted progress on cost savings and investment in growth platforms, and expressed confidence in delivering the 2026 targets and improving margins toward medium-term objectives.Company Guidance
Solid H1 Organic Growth and Improving RIG
Organic sales growth of 3.6% in H1 2026 with RIG accelerating from 1.2% in Q1 to 1.8% in Q2 (H1 RIG 1.5%). Management delivered four consecutive quarters of positive OG/RIG and is targeting sustained organic growth of 4%+ with RIG of at least 2%.
Strong Growth Platforms Performance
Growth platforms delivered 7% organic growth in H1, supported by increased investment; management is overinvesting in these platforms to accelerate category expansion and capture structural growth.
Marketing Investment and Improved Effectiveness
Marketing spend increased to 8.9% of sales (up from 8.1% two years ago), with paid media up double digits (constant currency). Non-working media reduced from ~25% to below 20%, indicating higher marketing efficiency and better ROI.
Cost Savings Ahead of Plan
Delivered CHF 600 million of incremental procurement and operational efficiency savings in H1, bringing cumulative savings to CHF 1.7 billion and putting the company on track for CHF 2 billion in 2026 and CHF 3 billion by end-2027.
Strong Cash Generation and Improved Balance Sheet
Free cash flow of CHF 3.4 billion (significant improvement vs prior year) and net debt reduced to CHF 56.3 billion from CHF 60.0 billion a year ago; full-year free cash flow guidance unchanged at above CHF 9 billion.
Portfolio Sharpening Actions
Announced partnership for Nestlé Waters and Premium beverages, completed mainstream VMS and Ice Cream divestments, acquired remainder of yfood and divested Blue Bottle Coffee to focus resources on Coffee, PetCare, Nutrition and Food & Snacks.
Guidance Maintained / Top-line Range Tightened
Full-year organic growth guidance tightened to 3%–4% (from 'around 3% up to 4%'); UTOP margin expected to improve vs 2025; H2 margin expected broadly similar to H1; confidence in delivering full-year targets.
DE:NESM 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