Unilever just raised its guidance for the full year

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:

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 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.