UL - Why Unilever Stock Was Gaining Today
2024-07-25 15:32:00 ET
Shares of Unilever (NYSE: UL) were marching higher today after the consumer packaged goods giant posted strong results in its second-quarter earnings report. As a result, the stock was up 5.4% as of 1:58 p.m. ET.
Unilever, which owns brands like Ben & Jerry's, Dove, and Hellmann's, said that comparable-sales growth was up 3.9% in the second quarter, driving overall revenue up 2.2% to 16.1 billion euros. First-half revenue of 31.12 billion euros was slightly ahead of estimates at 30.99 billion euros.
The company also posted solid margins. Organic operating margin was up 250 basis points to 19.6%, and adjusted earnings per share rose 16.3% to 1.62 euros. Volume growth in the second quarter rose 2.9%, showing the underlying business was improving in addition to a benefit from inflation that has led to higher prices on packaged goods.
For further details see:
Why Unilever Stock Was Gaining Today