EarningsQ2 2026 Earnings Report
MX:NESNN Q2 2026 EPS Results
Actual EPS$48.15
Consensus EPS$44.86
Beat/MissBeat by +$3.30
One Year Ago EPS$42.73
MX:NESNN Q2 2026 Revenue Results
Actual Revenue$935.04B
Expected Revenue$472.37B
Beat/MissBeat by +$462.67B
YoY Revenue Growth-2.53%
Earnings Announcement Details
QuarterQ2 2026
Date07/23/2026
TimeBefore Open
Conference CallThursday, July 23, 2026
MX:NESNN Upcoming Earnings
Nestlé SA's next earnings date is estimated for February 18, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:NESNN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed constructive operational momentum and clear execution progress: improving RIG momentum (Q1 to Q2), strong growth-platform performance (7% OG), meaningful cost-savings delivery (CHF 600m in H1; CHF 1.7bn cumulative) and robust free cash flow (CHF 3.4bn) that reduced net debt. Management reiterated on-track 2026 guidance and medium-term margin targets, while acknowledging tangible near-term headwinds including FX, commodity cost pass-through, the infant formula recall impact and zone-specific challenges (petcare destocking in the U.S., temporary delistings in Europe). Overall, positives around cash generation, portfolio sharpening, marketing effectiveness and emerging market strength outweigh the transitory and manageable negatives, provided execution continues.Company Guidance
Solid H1 Organic Sales Growth
Organic sales grew 3.6% in H1 2026, driven by improving RIG and pricing contributions (pricing 2.1%).
RIG Momentum and Quarterly Acceleration
RIG for the half was 1.5%, accelerating from 1.2% in Q1 to 1.8% in Q2, marking four consecutive quarters of positive RIG momentum.
Strong Growth Platforms
Growth platforms delivered 7% organic growth in H1, supported by targeted investment and faster innovation rollouts.
Increased and More Effective Marketing Investment
Marketing spend rose to 8.9% of sales (up from 8.1% two years ago) and increased 30 basis points year-on-year; paid media spend was up double-digits in constant currency and non-working media fell to below ~20% from ~25%.
Cost Savings Progress (Fuel for Growth)
Delivered CHF 600 million incremental procurement and operational efficiency savings in H1; cumulative savings CHF 1.7 billion and on track for CHF 2 billion in 2026 and CHF 3 billion by end-2027.
Strong Cash Generation and Balance Sheet Improvement
Free cash flow was CHF 3.4 billion in H1 (significant improvement vs prior year); net debt reduced to CHF 56.3 billion from CHF 60.0 billion a year ago; full-year free cash flow guidance remains above CHF 9 billion.
Underlying EPS and Guidance
Underlying EPS rose 4% in constant currency; full-year guidance tightened for organic growth to 3%–4% and remains on track with no change to profitability outlook (UTOP margin expected to improve vs 2025).
Portfolio Sharpening and Strategic Moves
Announced Waters partnership and continued portfolio actions: progressed mainstream VMS and Ice Cream divestments, acquired remainder of yfood, divested Blue Bottle Coffee — positioning a sharper focus on Coffee, PetCare, Nutrition and Food & Snacks.
Broad-Based Geographic and Category Strength
Emerging markets (ex-China), AOA and parts of Latin America showed firm RIG-led growth; Food & Snacks delivered consistent good growth with double-digit RIG-led growth in emerging markets (over CHF 5bn annual sales).
MX:NESNN 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