Why Personal Products Major Unilever Shares Are Rising Today

Benzinga04-26

Unilever PLC (NYSE:UL) shares are trading higher following first-quarter FY24 earnings.

Turnover rose 1.4% Y/Y to 15.0 billion euros, with -2.0% impact from currency and -0.9% from net disposals.

Underlying sales grew 4.4%, with volume growth of 2.2% and price growth of 2.2% Y/Y.

Power Brands continued to perform strongly, with 6.1% Y/Y underlying sales growth, led by volume growth of 3.8% Y/Y.

Beauty & Wellbeing underlying sales rose 7.4% Y/Y, with volume growth of 5.6% Y/Y aided by continued double-digit growth from Health & Wellbeing and Prestige Beauty.

Personal Care underlying sales was up 4.8%, with volume growth of 1.4% in the quarter. Home Care underlying sales increased 3.1%, aided by volume growth of 4.3% Y/Y.

Underlying sales in Nutrition grew 3.7% and Ice Cream increased 2.3% Y/Y in the quarter.

Outlook: For FY24, the company reiterated underlying sales growth in the multi-year range of 3% to 5%, with an increasing contribution from volume growth.

Last month, Unilever revealed its plans to separate its Ice Cream business and focus on a portfolio of brands with strong positions in attractive categories and complementary operating models.

Related: Unilever’s Ice Cream Unit May Find Home In Amsterdam Over London: Report

Investors can gain exposure to the stock via Hartford Funds Exchange-Traded Trust Hartford Quality Value ETF (BATS:QUVU) and Pacer Global Cash Cows Dividend ETF (BATS:GCOW).

Price Action: UL shares are up 6.22% at $51.06 at the last check Thursday.

Photo via Company

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