NSRGY - Nestle notches gains as price increases insulate earnings results

Nestlé S.A. (OTCPK:NSRGY) is edging higher after reporting its earnings results on Thursday morning in Europe.  The Swiss food and beverage behemoth reported a revenue figure of 22.24 billion Swiss francs along with healthy organic sales growth at 7.6%. The company also reaffirmed its full year outlook for both sales and profit margins while underlying earnings per share were slated to increase in coming quarters. The maintenance of margins at between 17.0% and 17.5% was noted as achievable based upon price increases of about 5.2% across products that have been successfully passed on to the consumer without dampening demand. Moving forward, management noted flexibility in adjusting prices further as inflation requires. “We stepped up pricing in a responsible manner and saw sustained consumer demand,” Nestlé CEO Mark Schneider stated. “Cost inflation continues to increase sharply, which will require further pricing and mitigating actions over the course of the year.” The

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Nestle notches gains as price increases insulate earnings results