Nestle 1Q Sales Rose; Backs 2023 Outlook

By Giulia Petroni

Nestle SA on Tuesday reported a rise in sales volumes in the first quarter of the year as the company stepped up pricing against significant cost inflation.

The Swiss consumer-goods giant reported quarterly sales of 23.47 billion Swiss francs ($26.45 billion), from CHF 22.24 billion in the previous-year period. Analysts had forecast sales of CHF23.27 billion, according to a company-compiled consensus.

Quarterly sales grew 9.3% organically, with pricing of 9.8% and real internal growth of minus 0.5% impacted by capacity constraints and portfolio optimization actions.

Growth was broad-based across most geographies and categories, the company said. By product category, Purina PetCare was the largest contributor to organic growth.

Nestle backed its full-year outlook.

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

(END) Dow Jones Newswires

April 25, 2023 01:44 ET (05:44 GMT)

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