EarningsQ2 2026 Earnings Report
MX:ULN Q2 2026 EPS Results
Actual EPS$32.23
Consensus EPS$32.83
Beat/MissMissed by -$0.59
One Year Ago EPS$33.38
MX:ULN Q2 2026 Revenue Results
Actual Revenue$505.49B
Expected Revenue$249.97B
Beat/MissBeat by +$255.51B
YoY Revenue Growth-9.16%
Earnings Announcement Details
QuarterQ2 2026
Date07/28/2026
TimeBefore Open
Conference CallTuesday, July 28, 2026
MX:ULN Upcoming Earnings
Unilever's next earnings date is estimated for February 11, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:ULN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
Overall the call was positive: management reported sustained, accelerating volume-led growth (best quarterly volumes in over a decade), stronger performance from power brands, robust emerging market momentum, improved cash generation and an upgraded full-year outlook. Notable challenges remain — meaningful currency headwinds, commodity-driven gross margin pressure, underperformance in Foods (U.S. condiments) and near-term risks (Brazil tax reform and potential volume sensitivity as pricing lands). On balance, the operational momentum, margin discipline and cash strength outweigh the headwinds, supporting an optimistic outlook.Company Guidance
Strong Volume-Led Growth
Underlying sales growth of 4.8% in H1 2026, with 4.2% from volume; Q2 underlying sales growth accelerated to 5.8% with volume up 5.5% — the best quarterly volume performance since 2010.
Power Brands Outperformance
Power brands represent 78% of turnover and grew 6.0% in H1 (5.4% from volume); Q2 power brand growth 6.9% with 6.8% from volume; 15 of 30 power brands grew double digits in Q2.
Home Care Momentum
Home Care was the fastest-growing business group: H1 underlying sales +7.6% (almost all from volume); Q2 growth +9.1% with volume +8.6%; underlying operating margin up 30 basis points to 15.8% and operating profit +3.2% to EUR 0.9bn.
Beauty & Wellbeing and Personal Care Strength
Beauty & Wellbeing H1 underlying sales +5.9% (volume +4.5%); Q2 growth +8.1% (volume +6.9%). Personal Care H1 underlying sales +4.8% (volume +4.1%); underlying operating profit for Personal Care +4.8% to EUR 1.5bn and margin +10 bps to 22.2%.
Emerging Markets Outperformance
Emerging markets grew strongly: Q2 underlying sales +8.3% with volume +7.4%; India Q2 underlying sales +10% and volume +5%; Asia Pacific & Africa H1 underlying sales +7.3% (volume +6.1%).
Improved Profitability and Cash Generation
Underlying operating margin increased 10 basis points to 20.3% despite cost pressures; underlying operating profit EUR 5.2bn (+0.9%); underlying EPS +2.4% to EUR 1.61; free cash flow EUR 1.5bn (+EUR 0.5bn).
Disciplined Cost & Productivity Delivery
Completion of EUR 800m productivity program ahead of schedule drove ~70 basis points of overhead improvement; brand & marketing investment maintained at 16.1% of turnover focused on power brands.
Portfolio & Capital Allocation Progress
Acquisition of Gruns completed in June; acquisitions (Dr. Squatch, Minimalist, Wild) added 0.7% to turnover; completed EUR 1.5bn buyback and announced EUR 6bn buyback plan (2026-2029); Q2 dividend +3%.
Upgraded Full-Year Guidance
Management upgraded full-year outlook: underlying sales growth guidance to 4%–6% with around 3% volume growth for the year; H2 growth expected 4%–5% led by pricing and a modest improvement in underlying operating margin vs 2025.
MX:ULN 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