Unilever’s Q3 Update: Ice Cream, Marmite, and More
Unilever, the giant behind Ben & Jerry’s and Marmite, just blew the curtain on its third‑quarter numbers. The key takeaway? Sales are up – about 4.5% on the underlying metric, while volume climbed 3.6%.
Power Brands are Winning
- Power Brands grew a solid 5.4%.
- Full‑year guidance stays the same: underlying sales growth 3‑5% for FY24.
- Operating margin target: at least 18%.
Charlie Huggins from Wealth Club’s Quality Shares Portfolio shared his excitement:
“Unilever nailed another solid performance. Volume is accelerating, ice cream is performing better, and that’s proof that Hein Schumacher’s ‘Action Plan’ is paying off.”
The consumer goods scene is tough. China’s economy is slowing, and high inflation has boosted the appeal of private‑label brands. In that backdrop, Unilever’s healthy volume growth is a bright spot – especially with Power Brands leading the charge and a better showing across Europe.
What’s Still Rough?
But there’s a wrinkle. Indonesia has been a pain point for years – the quarter saw a frustrating 18% sales decline. Fixing this is on the agenda. Plus, there’s still work to do on productivity and simplification to make the company leaner.
Moving Forward
“Operational execution is getting sharper. There’s a real sense of urgency and dynamism. All that gives me confidence that Unilever is finally on the right track.”
So, as Unilever keeps polishing its performance, we’re hoping the ice cream sales keep scooping up, and the company can smooth out those rough spots for a stronger FY24.
