Why Personal Products Major Unilever Shares Are Rising Today
Portfolio Pulse from Lekha Gupta
Unilever PLC (NYSE:UL) shares rose after reporting a 7.0% underlying sales growth in FY23, driven by a 6.8% price increase and a 0.2% rise in volume. Despite a 0.8% Y/Y turnover decrease to €59.6 billion, the company saw growth across most segments, with a notable increase in gross margin and underlying operating profit. Unilever also announced a new €1.5 billion share buyback program for FY24 and expects FY24 sales growth of 3% to 5% with a modest improvement in underlying operating margin.
February 08, 2024 | 11:28 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Unilever PLC shares increased following a report of 7.0% underlying sales growth in FY23, a new €1.5 billion share buyback program for FY24, and an expected sales growth of 3% to 5% for FY24.
The positive earnings report, coupled with the announcement of a new share buyback program and optimistic sales outlook for FY24, are likely to boost investor confidence in Unilever, leading to a short-term positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100