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Unilever (GB:ULVR)
LSE:ULVR
Earnings Data
Report Date
Jul 23, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.41Last Year’s EPS
1.49Same Quarter Last Year
Moderate Buy
Based on 14 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presents a broadly positive operational and strategic story: volume-led growth, Power Brands outperformance, margin expansion, strong cash generation, active portfolio reshaping and a clear capital allocation framework. However, significant near-term headwinds persist from currency, regional softness (notably Latin America and China for the year), pockets of underperformance (non-Power Brands, certain Hair Care and Prestige assets), demerger-related costs and selective commodity inflation. Management guidance for 2026 is cautious (bottom end of the 4-6% multiyear range, volumes at least 2% and modest margin improvement), reflecting both confidence in the transformation and recognition of continuing external risks.Company Guidance
Group underlying sales growth and quarter-on-quarter improvement
Underlying sales growth of 3.5% for FY2025 (volumes +1.5%, price +2.0%) with clear sequential improvement into Q4: Q4 underlying sales growth 4.2% (volumes +2.1%, price +2.0%).
Power Brands outperformance
30 Power Brands (>78% of turnover) delivered 4.3% underlying sales growth for the full year (volumes +2.2%) and 2-year CAGR of 5% (volumes 3.4%); Q4 Power Brands growth stepped up to 5.8% (volumes +3.5%).
Strong Beauty & Wellbeing and Personal Care performance
Beauty & Wellbeing: underlying sales growth +4.3% (volume +2.2%, price +2.1%), underlying operating profit EUR 2.5bn with margin 19.2% (down 20bps). Personal Care: sales +4.7%, underlying operating profit EUR 3.0bn and margin 22.6% (up 50bps), driven by U.S. momentum and premium innovations (e.g., Dove, Vaseline, Liquid I.V., Nutrafol).
Foods delivered record margins and solid growth
Foods underlying sales growth +2.5% (volume +0.8%, price +1.7%); underlying operating profit EUR 2.9bn and underlying operating margin 22.6%, up 130 basis points to the highest level for the business group.
Home Care recovery and improvements
Home Care full-year sales +2.6% (volume-led +2.2%, price +0.4%) with Q4 acceleration to +4.7% (volumes +4.0%); underlying operating profit EUR 1.7bn and margin 14.9% (up 40bps).
Emerging markets momentum and notable market turnarounds
Emerging markets (59% of turnover) grew +3.5% for the year with Q4 acceleration to +5.8% (volumes +3.2%). Asia Pacific & Africa: +4.6% FY (volumes +3.0%) and Q4 +6.9% (volumes +5.7%). India FY +4.0% (volumes +3.0%), Q4 +5.0% (volumes +4.0%). Indonesia showed marked recovery with Q4 growth of ~17%.
Margin expansion, gross margin improvement and productivity
Group underlying operating margin expanded by 60 basis points to 20.0%. Gross margin expanded by 20 basis points to 46.9% (third consecutive year of expansion). Overheads improved by 50 basis points. Productivity program delivered >EUR 670m savings, with EUR 800m target on track for 2026.
Strong cash generation and improved leverage
Free cash flow EUR 5.9bn (100% cash conversion); excluding demerger items free cash flow ~EUR 6.3bn. Net debt down EUR 1.4bn to EUR 23.1bn and net debt / underlying EBITDA ~2.0x.
Capital allocation and shareholder returns
Returned EUR 6.0bn to shareholders in 2025 (EUR 4.5bn dividends, EUR 1.5bn buybacks). Announced new share buyback of EUR 1.5bn for 2026 and continued commitment to growing dividends. 100% of incremental brand & marketing investment (BMI) deployed behind Power Brands; BMI increased to 16.1% of turnover (up 10bps).
Earnings resilience on a constant currency basis
Underlying EPS EUR 3.08, up 0.7% reported and up 9.5% on a constant currency basis after a significant FX headwind.
GB:ULVR 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
GB:ULVR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 12, 2026 | 5280.10p | 5314.83p | +0.66% |
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.
FAQ
When does Unilever (GB:ULVR) report earnings?
Unilever (GB:ULVR) is schdueled to report earning on Jul 23, 2026, Before Open (Confirmed).
What is Unilever (GB:ULVR) earnings time?
Unilever (GB:ULVR) earnings time is at Jul 23, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Unilever stock?
The P/E ratio of Unilever is N/A.
What is GB:ULVR EPS forecast?
GB:ULVR EPS forecast for the fiscal quarter 2026 (Q2) is 1.41.
