The earnings call reflected a mixed performance for Nestlé, with notable achievements in organic growth and efficiency gains offset by challenges such as foreign exchange impacts, reduced margins, and difficulties in the Greater China market. While there are positive developments, significant headwinds and uncertainties remain.

Company Guidance -

Q4 2025

In the first half of 2025, Nestlé maintained its guidance for the year despite various challenges, achieving a 2.9% organic sales growth, with contributions from a 0.2% increase in Real Internal Growth (RIG) and a 2.7% rise in pricing. The company reported a 16.5% UTOP (underlying trading operating profit) margin, which was slightly better than expected, though it experienced a 90 basis point reduction compared to the previous year, affected by factors such as commodity cost inflation and foreign exchange movements. The Swiss franc's 10% appreciation against the dollar significantly impacted sales, particularly in Q2. Nestlé's 'Fuel for Growth' program delivered CHF 150 million in savings in H1, with expectations to achieve CHF 700 million for the full year. Although gross margins declined by 60 basis points due to input cost inflation, the company increased its advertising and marketing spend to 8.6% of sales, aiming for efficiency through its strategic initiatives. The company anticipates a lower UTOP margin in the second half due to increased tariffs and input costs but remains committed to its full-year margin target of at or above 16%.

Organic Growth Achieved

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.

Efficiency Gains from 'Fuel for Growth' Program

Nestlé's 'Fuel for Growth' program delivered CHF 150 million in savings during the first half, with expectations to reach CHF 700 million for the full year, aiding in reinvestment and margin improvement.

Positive Performance in North America

Despite a weak consumer environment, Nestlé delivered positive organic growth and RIG in North America, with ongoing progress in market share.

Strong Coffee Segment Performance

Coffee segment grew strongly, led by positive price and RIG, with Nestlé managing to maintain positive RIG despite increased pricing.

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 12, 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.