Unilever just raised its guidance for the full year

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Updated on Sep 27, 2024

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Unilever plc reports better-than-expected turnover for its Q2.
The consumer goods giant also raised guidance for the full year.
Unilever shares are currently about flat versus the start of 2023.

Shares of Unilever plc (LON: ULVR) gained about 5.0% today after the consumer goods giant said it performed well in the second quarter.

Unilever beats turnover forecast in Q2

The multinational saw €15.74 billion ($17.39 billion) in turnover versus €15.59 billion expected. In the press release, Hein Schumacher – the Chief Executive of Unilever who joined only earlier this month said:

Unilever’s performance in the first half highlights qualities that attracted me to the business: an unmatched global footprint, a portfolio of great brands and a team of talented people.

The London-listed firm attributed part of the strength in the recently concluded quarter to a 9.4% increase in pricing. Experts had 9.0% higher prices instead.

Unilever noted a 0.2% decline in volumes in Q2. Its shares are currently trading roughly at the same price at which it started 2023.

Unilever stock up on raised guidance

Unilever plc is up today also because the management raised its guidance for the full year.

The British firm now forecasts underlying sales to be up more than 5.0% in 2023. It also expects a modest boost to operating margin as well. According to CEO Schumacher:

The task ahead is to leverage these core strengths – supported by our simplified operating model – to drive improved performance and competitiveness.

The financial update arrives shortly after Ukraine’s National Agency on Corruption Prevention tagged Unilever an “international sponsor of war”. Wall Street currently has a consensus “hold” rating on ULVR.