EarningsQ2 2026 Earnings Report
MX:ULVRN Q2 2026 EPS Results
Actual EPS$32.55
Consensus EPS$32.55
Beat/MissMet expectations
One Year Ago EPS$33.57
MX:ULVRN Q2 2026 Revenue Results
Actual Revenue$508.91B
Expected Revenue$252.06B
Beat/MissBeat by +$256.86B
YoY Revenue Growth-12.44%
Earnings Announcement Details
QuarterQ2 2026
Date07/28/2026
TimeBefore Open
Conference CallTuesday, July 28, 2026
MX:ULVRN Upcoming Earnings
Unilever's next earnings date is estimated for February 11, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operational momentum — notably robust, broad-based volume-led growth, power brand outperformance, margin resilience and improved cash generation — while acknowledging discrete challenges: Foods/condiments weakness in the U.S., gross margin pressure from commodity inflation, currency headwinds and some regional/category pockets of underperformance. Management upgraded full-year guidance (underlying sales growth 4–6% with ~3% volume) and outlined actions (pricing, productivity, targeted innovations) to address headwinds.Company Guidance
Strong volume-led growth across the group
Underlying sales grew 4.8% in H1 with 4.2% from volume; Q2 underlying sales +5.8% and volume +5.5% — Unilever's best quarterly volume performance since 2010. Four-quarter average volume growth ~3%, 10-quarter average 2.7%.
Power brands outperformance
Power brands (78% of turnover) grew H1 +6.0% (volume +5.4%); Q2 power brand growth +6.9% with volume +6.8%. 15 of 30 power brands delivered double-digit growth in Q2.
Strong category and regional momentum
HPC (Beauty & Wellbeing, Personal Care, Home Care) led delivery — Home Care Q2 underlying sales +9.1% (volume +8.6%); Emerging markets Q2 underlying sales +8.3% (volume +7.4%); India Q2 underlying sales +10% (volume +5%). North America outperformed; Europe subdued.
Profitability and margins held up despite inflation
Underlying operating margin expanded ~10 basis points to 20.3% in H1; division margin improvements: Beauty & Wellbeing margin +10bps to 19.5%, Personal Care +10bps to 22.2%, Home Care +30bps to 15.8%. Underlying operating profit EUR 5.2bn (+0.9%).
Earnings, cash generation and shareholder returns
Underlying EPS increased +2.4% to EUR 1.61. Free cash flow EUR 1.5bn (+EUR 0.5bn YoY). Increased Q2 dividend +3% and completed EUR 1.5bn share buyback; committed EUR 6bn of buybacks (2026–2029) supported by operations and transaction proceeds.
Productivity and investment balance
Completed EUR 800m productivity program ahead of schedule, overheads improved ~70 basis points, while brand & marketing investment remained competitive at 16.1% of turnover (focused on power brands).
Portfolio development and strategic progress
Acquisitions added growth (Dr. Squatch, Minimalist, Wild; Gruns completed June). Foods transaction with McCormick progressing (integration teams in place, regulatory and filings on track) as part of reshaping to a focused HPC portfolio.
Digital and cultural activation success
Large-scale FIFA World Cup and creator-led activations (35 runs in 120+ markets, 50k creators) and high-reach content (e.g., power video series 130m views). Campaign examples (Dove, Liquid I.V.) produced major impressions and contributed to brand momentum.
MX:ULVRN 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