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    NESN   CH0038863350

NESTLÉ S.A.

(NESN)
  Report
Real-time Estimate Quote. Real-time Estimate Cboe Europe - 06/21 10:35:19 am
115.95 CHF   +0.39%
06/18EUROPEAN MIDDAY BRIEFING  : Stocks Slip as -2-
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06/18NESTLE  : Barclays keeps its Buy rating
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Nestle Lifts 2020 Guidance Following 3Q Sales Growth -- Update

10/21/2020 | 03:35am EDT

-Nestle expects organic sales growth at around 3% in the full year.

-Sales fell in the first nine months partly due to currency effects

-Portfolio review is on track, expected to be finalized in early 2021

By Giulia Petroni

Nestle SA raised its full-year guidance for organic sales growth on Wednesday after reporting 4.9% growth in the third quarter.

The Swiss food-and-beverage giant's sales in the first nine months were down 9.4% to 61.91 billion Swiss francs ($68.24 billion) compared to the previous-year period, largely due to foreign exchange currency effects. A company-compiled consensus had forecast sales at CHF62.09 billion.

Organic sales growth in the nine months was 3.5%, with real internal growth of 3.3%, boosted by a strong performance in the Americas and demand for pet food and health products, the company said.

Nestle raised its guidance for the full year, saying it now expects organic sales growth at around 3%. It had previously targeted organic growth in the range of 2% to 3%.

It also said it expects underlying trading operating profit margin to improve, and underlying earnings per share at constant currencies and capital efficiency to increase.

Demand for at-home consumption products was strong throughout the period, while the out-of-home products' performance remained negative. E-commerce increased, reaching 12.3% of the total group's sales.

Nestle said Purina PetCare was the largest contributor to the company's growth, boosted by premium brands Purina Pro Plan, Purina ONE and Felix.

Health Science posting double-digit growth, reflecting an increased demand for products supporting people's immune systems during the pandemic. Confectionary and water registered a sales decrease mainly due to their exposure to out-of home channels, according to the company.

The strategic reviews of part of the North American waters business as well as of the peanut milk and porridge business in China are on track and expected to be completed early next year, Nestle said.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

10-21-20 0334ET

Stocks mentioned in the article
ChangeLast1st jan.
NESTLÉ S.A. 0.31% 115.86 Delayed Quote.10.78%
S&P GSCI CLASS III MILK (USD) 0.00% 130.8276 Delayed Quote.-1.49%
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Financials
Sales 2021 85 602 M 92 913 M 92 913 M
Net income 2021 12 003 M 13 029 M 13 029 M
Net Debt 2021 33 090 M 35 916 M 35 916 M
P/E ratio 2021 27,0x
Yield 2021 2,47%
Capitalization 325 B 353 B 353 B
EV / Sales 2021 4,19x
EV / Sales 2022 4,06x
Nbr of Employees 273 000
Free-Float 97,7%
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Technical analysis trends NESTLÉ S.A.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 118,73 CHF
Last Close Price 115,50 CHF
Spread / Highest target 16,9%
Spread / Average Target 2,80%
Spread / Lowest Target -16,0%
EPS Revisions
Managers and Directors
NameTitle
Ulf Mark Schneider Chief Executive Officer & Director
François-Xavier Michel Marie Roger Chief Financial Officer & Executive Vice President
Paul Bulcke Chairman
Stefan Palzer Chief Technology Officer & Executive VP
Magdi Batato Head-Operations & Executive Vice President
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