Nestlé's performance in the first half of 2025 showed resilience with solid organic sales growth and strategic investments in marketing and efficiencies. However, challenges remain, particularly in the Greater China market and in managing margins amidst cost pressures. While the maintenance of full-year guidance is a positive indicator, the significant headwinds and reduced free cash flow present notable concerns.

Company Guidance

During Nestlé's Half-year 2025 Results Conference Call, the company maintained its full-year guidance despite facing increased headwinds, including tariffs and foreign exchange impacts. For the first half of 2025, Nestlé reported a 2.9% organic sales growth, with a Real Internal Growth (RIG) of 0.2% and pricing increase of 2.7%. The UTOP margin was 16.5%, slightly better than expectations, despite a 90 basis points decrease due to increased advertising and marketing spend and a 60 basis points decline in gross margin. The company faced foreign exchange challenges, notably as the Swiss franc strengthened significantly against the dollar. In response to rising input costs, especially in coffee and confectionery, Nestlé took significant pricing actions, which led to some elasticity impacts. The company is on track to achieve CHF 700 million in savings through its 'Fuel for Growth' program, with CHF 150 million recognized in the first half. Looking ahead, Nestlé anticipates a significant reduction in second-half margins due to continued input cost and tariff pressures but expects to maintain its UTOP margin at or above 16% for the full year.

Solid Organic Sales Growth

Nestlé delivered 2.9% organic sales growth in the first half of 2025, with a RIG of 0.2% and pricing of 2.7%, reflecting broad-based sales growth across geographies and categories.

Maintenance of Full-Year Guidance

Despite increased headwinds, Nestlé maintained its full-year guidance for organic growth and UTOP margin, expecting the UTOP margin to be at or above 16%.

Investment in Marketing and Brand Value Proposition

Nestlé increased its advertising and marketing spend to 8.6% of sales, ahead of schedule, aiming to reach 9% by the end of the year.

Fuel for Growth Program Success

Nestlé's 'Fuel for Growth' program is on track, with CHF 350 million in savings expected in the second half, totaling CHF 700 million for the full year.

Nestle SA Reg (NSRGY) Earnings, Revenues Date & History

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NSRGY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 19, 2026	2025 (Q4)	2.48 / -	2.612	―	―	―
Jul 24, 2025	2025 (Q2)	2.63 / 2.48	2.853	-13.14% (-0.38)
Feb 13, 2025	2024 (Q4)	1.27 / 2.61	1.25	108.96% (+1.36)
Jul 25, 2024	2024 (Q2)	2.70 / 2.85	1.18	141.78% (+1.67)	―
Feb 22, 2024	2023 (Q4)	3.06 / 1.25	2.667	-53.13% (-1.42)
Jul 27, 2023	2023 (Q2)	2.65 / 1.18	2.436	-51.56% (-1.26)
Feb 16, 2023	2022 (Q4)	2.70 / 2.67	2.446	9.04% (+0.22)
Jul 28, 2022	2022 (Q2)	2.18 / 2.44	2.395	1.71% (+0.04)	―	―
Feb 17, 2022	2021 (Q4)	2.49 / 2.45	2.452	-0.24% (>-0.01)	―	―
Jul 29, 2021	2021 (Q2)	2.34 / 2.40	2.204	8.67% (+0.19)	―	―

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

NSRGY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 24, 2025	$99.84	$93.35	-6.50%
Feb 13, 2025	$84.82	$90.44	+6.63%
Jul 25, 2024	$102.65	$98.00	-4.53%
Feb 22, 2024	$107.81	$102.69	-4.75%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.