Why Personal Products Major Unilever Shares Are Rising Today
Portfolio Pulse from Lekha Gupta
Unilever PLC (NYSE:UL) shares rose following its Q1 FY24 earnings report, showing a 1.4% Y/Y turnover increase to 15.0 billion euros, with underlying sales growing 4.4%. The company saw strong performance across its Power Brands, Beauty & Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream segments. Unilever reiterated its FY24 sales growth outlook of 3% to 5%, with a focus on volume growth. Last month, Unilever announced plans to separate its Ice Cream business. UL shares are up 6.22% at $51.06.
April 25, 2024 | 5:43 pm
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POSITIVE IMPACT
Pacer Global Cash Cows Dividend ETF (BATS:GCOW) offers exposure to Unilever PLC, benefiting from Unilever's positive Q1 FY24 earnings report and subsequent stock price rise.
Given GCOW's exposure to Unilever, the ETF could see a positive impact on its price in the short term due to Unilever's strong earnings report and optimistic sales growth outlook.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Hartford Funds Exchange-Traded Trust Hartford Quality Value ETF (BATS:QUVU) offers exposure to Unilever PLC, which saw its shares rise following a positive Q1 FY24 earnings report.
As QUVU provides exposure to Unilever, the positive performance of Unilever's stock following its earnings report could attract more investors to QUVU, potentially impacting its price positively in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Unilever PLC shares rose following a positive Q1 FY24 earnings report, with a 1.4% Y/Y turnover increase and underlying sales growth of 4.4%. The company also reiterated its FY24 sales growth outlook.
The positive earnings report and reaffirmed sales growth outlook for FY24 are likely to instill investor confidence in Unilever, driving short-term stock price appreciation.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100