-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
Unilever delivered Q1 2026 underlying sales growth (USG) of 3.8%, beating consensus of 3.6%, with well-balanced contributions from pricing (+0.9%) and volume (+2.9%). The volume-led growth was attributed to Power Brands achieving 5.0% USG and 4.0% volume expansion, validating the strategy of focusing investments on its strongest assets. We welcome the tilt toward volume growth as we view it as a healthier expansion indicating higher quality growth and business strength. Management reconfirmed full-year 2026 USG guidance at the bottom end of the 4-6% range with at least 2% volume growth. Emerging markets delivered sustained strength with 5.7% USG, underpinned by a robust 4.2% volume contribution, led by India's 7% USG. Home Care led segmental performance with 6.1% USG and 6.2% volume expansion. Our view remains more optimistic than the consensus estimate of 3.5% as we see continued strength in Unilever's market-leading offerings with strong underlying momentum across categories and geographies.